Online banking where people are now saving.

Everywhere today you see the little orange ball on tv, on the internet announcing that you can earn more money! I do it and I am sure that many of you have ING DIRECT ! which is a leading internet bank. I find it really easy to transfer money to them each month right from my checking account.

The Fed has been raising interest rates to keep inflation in check — but rates are still near historic lows.

CBS News Correspondent Wyatt Andrews reports that many Americans, looking for a higher return on their savings, are turning to banks that do business only on the web.
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