My previous favorite online bank has dropped its rate again. HSBC Direct lowered their savings rate again this morning to 4.25% APY (from 4.50%). It seems like while other banks are able to maintain rates with the Fed drops HSBC keeps slipping. Emigrant Direct also dropped their rate to 4.65% APY this week.

Fortunately as previously discussed I moved all my long term savings money over to Countrywide SavingsLink who is still holding steady at 5.30%. Here is a roundup of some of the popular online savings accounts rates (APY):

• Countrywide SavingsLink - 5.30%
• FNBO Direct - 5.05%
• E*Trade Complete Savings - 5.05%
• WAMU Online Savings - 4.75%
• Emigrant Direct - 4.65%
• HSBC Direct - 4.25%
• ING Direct - 4.10%