Wilmington Trust’s online branch–WT Direct–is offering a fairly competitive APY on their high yield online savings account.
The minimum balance required for this rate is $10,000; any balances from $1-$10,000 will earn higher APY for the first 60 days.
Internet Banks or Virtual Online banks are banks without bricks; from the customer's perspective, they exist entirely on the Internet, where they offer pretty much the same range of services and adhere to the same federal regulations as your corner bank. Online banks pass the money they save on overhead like buildings and tellers along to you in the form of higher yields, lower fees and more generous account thresholds.
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