JP Morgan Chase reported that they got hacked again with a huge data breach:
http://www.forbes.com/sites/larryma...s-about-massive-data-breach/?partner=yahootix
I don't even know where to start. You got the national, large regional, small, online banks...
Synchrony have one of the best APYs. Then there's Barclays, GE Capital, Ally Bank, CitiGroup, Capital One, USAA, Charles Scwab, Fidelity, various Credit Unions, CIT, JP Morgan Chase, Bank of America, Wells Fargo, US Bank, Bank of New York MEllon, HSBC, ING Corp, Fifth Third, SunTrust, E*Trade....
Online Banking can work, but you definitely want to be sure they're 1) a member of FDIC, and 2) don't screw you over on variable rates that can change at will, or without warning. The reason why online banks can over better rates than regular banks (Say Synchrony over Chase) is because they don't have the same amount of infrastructure/physical branches that they need to maintain, so their costs to run operations is significantly lower than a physical-based branch like US Bank, Chase, and Fifth Third.
Another thing to remember is that savings rates can vary based on the amount in the account AND what kind of savings account it is. In addition, just because a bank may have the best rate may not mean the best overall bank to go with. What's the point of earning $50 for every $10,000 saved per year if it costs you $45 a year to use that bank.
My advice on selecting the best bank:
1) Use the APY as the first set of criteria. Make a minimum APY to go by, say over 0.5% or higher
2) Low or no monthly fees or activity fees
Then sort:
3) Minimum Balance required?
4) High Balance - better saving accounts offered?
5) Online tools
6) Check writing ability (some places don't offer checks, others do, it varies)
7) Any other necessary or important feature the savings account should have
