There is no doubt that people have become very comfortable with online banking and online purchasing now that we are already in 2010. Conducting transactions online is mainstream and it will only get more so in the future. So, why not have your money in an online savings account as well?

If you are trying to determine when will interest rates go up, you probably are starting to understand that it may be a while. It may be several years before we see any meaningful movement in interest rates. So, you need to find a place to put your money that will get a better rate of return than just your average savings account at the local bank.

You can earn 1.10% APY* with HSBC Advance. No fees, no minimums, FDIC-insured.† See all details at www.us.hsbc.com. With this kind of online savings account, you will have access to your money all the time just in case interest rates do go up. It’s pretty similar to a money market account with perhaps a little better rate. You can link up any type of other account to your HSBC online savings account if you like or you can just put your savings in it.

The important thing to understand is that everything is moving online in today’s world and to get the best interest rates, you should be be looking and willing to open online accounts. You probably will not be finding the best money market interest rates or any other type of interest rates at your local banks anymore as the Internet is the place to find them.

It seems E*Trade doesn’t want my money or business. I have just gotten a letter from them about my CD that is going to mature within the next couple of weeks.  The interesting thing is that the letter outlines their new policy that certificate of deposits will no longer roll over or be renewed automatically. Instead, the money will be distributed by check to me and my account closed (CD account).

Now, I have a stock account with them and I want the money to stay with E*Trade and to go into that account. Usually, money that is not in stocks will sit in a money market account and from that I can buy stocks at any time. I want my money to stay with E*Trade in that money market account so that I can buy stocks with it.

CD and money market interest rates are so low right now that it’s not even worth worrying about how much money I can make through interest. I am getting more interested in buying stocks as that is the only place it seems a person might be able to make money. But in order to buy stocks, I have to have money in the account first right?

So why would they be so stupid to send my money back to me that I want to stay with them? What kind of a company sends money back to people and turns away business? I guess I will take my money that they send back and open up an account with another online stock broker.

E*Trade, you are run by morons and that is probably why your stock has gone from over 250 down to the low teens. Get a clue!

If you have money that you want to invest safely, you are no doubt wondering when will interest rates go up? We are halfway through 2010 and interest rates remain as low as ever which presents a problem for those who want to make money without risking it like you would in the stock market.

As I write this, stocks are down another 229 points and the Dow is hovering right around 10,000. It hasn’t been a good year for stocks and nothing with the economy really points to things getting better any time soon. Some of us just don’t want anything to do with stocks right now and that leaves us with only one option: interest income.

Most people get their interest income from bank CD’s or Treasury bills. They are totally safe (FDIC) and the most popular ones are the 1 year variety. I don’t like to lock up my money for longer than a year at a time and I think many others think that way as well.

Right now if you look online, you will see that the best rates you can get for a CD are between 1% and 1.5% which is not much at all. I mean seriously, if you had one million dollars all you would get is $15,000 in interest at the top rate for a 1 year CD? Who said “time is money”?

The best money market interest rates are not far behind at about 1.35% and with a MMA your cash is not locked in for a year or any period of time. That is the biggest advantage of money market accounts: you can get a decent interest rate from them and your money is 100% liquid at all time.

Interest rates will have to go up sometime and whether it is this year or 2011, you need a place to park your money where you can get to it. Not everyone is willing to hand their money over to the Treasury or a bank for a set period of time and if you are one of those people, you should take a look at the money market rates in your area and online.

At this time, the only way you can get the best money market rates is to go online. It is unlikely that you will find a local bank in your city that offers as high a rate as you will be able to find on the Internet. Of course, for many there is a comfort issue and they prefer investing their money with a bank or institution where they can actually walk in and talk to someone. If you send your money to a bank you find online, you might have less of a feeling of security which is an issue for some.

In conclusion, if you are willing to do the research online, you will be able to find money market interest rates that rival those of 1 year CD’s and Treasury bills. It is something to consider if you don’t want to tie your money down in case rates do start going back up again.