Online high yield savings accounts are huge. They have grown from a small niche industry in the 90′s to a very popular, safe, and easy way to save money vs. a traditional brick and mortar savings account at your local bank. With a few exceptions, rates for the savings accounts below are sometimes 10x higher or more than what you’ll get a local bank. The only downside to an online account is that it can take a day or two for transfer to occur. I actually think this is great, it gives you a day or two to think about that transfer and why you are making it!
Most high yield savings accounts will require a very minimal deposit, if any, to get setup. The chart above has links to the most popular online accounts.