Great CD Rates: MoneyAisle in the News

MoneyAisle has picked up some great coverage in the media recently. I wanted to use this space to highlight some of it for you all.

The Wall Street Journal:

At MoneyAisle.com, more than 100 small and midsize banks compete for consumer deposits through live auctions. When a customer comes to the site and asks for the terms of a CD or high-yield savings account, the banks bid against one another -- through automated auction software that runs on the Web site -- to win the deposit. The cost is free to consumers, and you don't have to commit to investing anything before you see the results of an auction. Participating banks, which are all FDIC-insured, are screened by an independent bank-rating agency to filter out the riskiest banks.

MSN Money:

Banks really, really, really want your money. And that's good news for savers in an otherwise dismal interest-rate environment.

For an interesting experiment, you might try MoneyAisle, which auctions off your deposit to the highest-bidding bank. It's fun and doesn't require a commitment.