Clark Howard has mentioned an account from Emigrant Direct bank. I checked it out, and it’s very cool. You can sign up online and electronically transfer funds from your existing checking account to your new American Dream savings account with Emigrant Direct, and the best part is that your savings account will earn interest. The current APY is 5.15% (just recently raised from 5.00%). If you have money in savings, it’s a great and convenient way to earn higher interest than I have seen on a savings account in a long while. There are no fees and no minimums. You can literally open an account with $1. And don’t laugh at that. If you are saving nothing now, $1 is a huge increase. If you saved $1 a day, you’d be surprised how fast they will add up.

Check out Emigrant Direct’s American Dream account at https://www.emigrantdirect.com.