Online banks continue to cut rates on their savings accounts and CDs. In addition to cutting rates, AmTrustDirect added tiers to its e-Money Market Account. Balances under $25K now earn 3.50% APY. You’ll need $50K to earn the maximum yield of 4.00% APY. Look for other online banks to start implementing tiers as they cut rates. It helps hide the full extent of their rate cuts.

Here are some of the recent rate cuts and decreases:

• AmTrustDirect e-Savings / e-Money Market - 4.10% APY for e-Savings / 4% APY ($50K+) 3.75% APY ($25K+) 3.5% APY for e-Money Market (down from 4.60% e-Savings / 4.50% all tiers e-Money Market)
• Corus MMA - 4.32% APY (down from 4.50%)
• Flagstar MMA - 4.25% APY (down from 4.40%)
• FNBO Direct Savings - 3.85% APY (down from 4.30%)
• Capital One/Costco MMA - 3.70% APY (down from 4.05%)
• EmigrantDirect Savings - 3.60% APY (down from 4.05%)
• BancoFortuna Savings - 3.60% APY (down from 4.05%)
• GMAC MMA - 3.50% APY (down from 4.00%)