Emigrant is now offering 3.5% APY on it's American Dream savings account until the end of 2005 (up from 3.25%). This rate is a great protection against inflation for your savings. No fees, no minimum balances.

They don't offer a $25 signup referral bonus like the ING Direct account, but the interest is .35% higher. I prefer ING's website and customer service, but I can't refuse Emigrant's competitive rate.

Here's the plan if you don't have an account with either:
Open an account at both. Get the $25 free money from ING (email me if you need a referral), but put your money into Emigrant for now until ING catches up.