EmigrantDirect Savings Account now at 5.00% APY

EmigrantDirect's Online Savings Account has boosted its rate to 5.00% APY as of July 4th, 2006. This rate is mcuh higher than ING Direct Savings Account (4.35%). I have most of my short term savings and 0% Balance Transfers in my Emigrant Direct savings account.

I also received word that EmigrantDirect is launching a new user interface for its web site. I would say currently the biggest drawback to EmigrantDirect is the crude (but functional) web site design, so if the new web site design is similar to ING Direct or HSBC Direct then all the more reason to open an account for the higher interest rate.