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One of the reasons I champion online savings accounts is that they are one of the first steps to becoming financially aware.

They're easy to open, easy to use, and easy to enjoy (seeing your money increase).

I get slightly annoyed when a bank opens a high-yield online savings account but makes it difficult for early savers to break into.

Such is the case with Countrywide Bank, whic now offers a 5.40% APY account — one of the highest on the market — but required a $50,000 minimum for the rate.

Countrywide also hits you up for a $20 fee for closing your account with 90 days of opening it and $15 (per transaction?) above the six monthly transactions you're allowed.

You only need a minimum of $1000 to open an account (still more than I'd like — how about $1?), but for balances under $10,000, the APY is only 4%. For balances between $10,000 and $50,000, the APY is 5.25%.

Brick and mortar banks need to realize that, in order to gain customers online that they'd normally never see in person, their accounts need to be easily accessible to everyone.

Make it cheap and easy to open — don't close doors on potential customers just because they aren't your "ideal" customer.

They just might be some day soon.

(Link via bestratecds.com)