No. of Recommendations: 3
TIAA has a new online banking service that they (shockingly!) decided to call TIAA Direct. Currently they are paying 1.25% on deposit accounts.

My current school's 403(b) plan is with TIAA-CREF, so I decided to open an account and check it out. I opened the account about 10 days ago and have been very happy with the speed of service. The layout of the web site is good; a few things could be better, but it is easy to navigate and it is not terribly cluttered with ads.

Currently, I have accounts with Emigrant Direct (all but empty), Dollar Savings Direct, and ING Direct. All are fine, but...

1. Emigrant's rates are _never_ as good as Dollar (by design);
2. ING's rates have been better than Dollar for quite some time, but who knows what will happen with Capital One owning them. (My feeling is that little will change, but rates might tend to creep down a bit relative to some other sites.
3. Right now, TIAA has rates that are dramatically higher than ING. My guess is that this is temporary until they hit some level of critical mass in their deposits, but TIAA-CREF is such a good organization that I would expect them to remain strong for the long-term.

Anyone else have any thoughts?

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