Hello, I want to put some money aside but I want it to stay online and off my bank accounts. I earn these money from the internet and I want them to be stored online. I am looking for ways to invest them into something or put them in a savings account. Are there any reliable online savings accounts ? Can someone give me an idea for small online investments with low risk? I want to invest small amounts like 30-50$ and have small short term returns. Please hare your experience and ideas
I don't know if it is available in every area, but ING direct is a reliable online bank. They have savings and chequing accounts and you can get a bank card to access your money. I think they are changing their name to Tangerine, but it is the same bank. I have used ING for a number of years and am happy with the service as there are no fees. If you are looking at small amounts of money ING is a good fit as other banks may charge transaction fees which will cut deeply into a $30 amount. Most investments require a starter amount such as $500 for an initial investment. You can then top them up for $25 at a time. Unfortunately, I haven't tried these online but use a brick and mortar bank for my investments. ING does have some investment options and might be worth looking into. For low risk you would be looking at a GIC or term deposit.
There are some online brokers that will let you invest as little as $100. I don't know what returns you'll earn on your investment but I think they are relatively safer than most of the other get rich fast schemes. But you'll need to do your research to ensure that the broker you deal with is legit or else you'll lose a lot of money.
