according to mitbbs, the following online banks provide the highest rate now:

AmTrust            www.amtrustdirect.com  5.36% $1 min $1K open
UFB Direct         www.ufbdirect.com      5.31% $0 min
AMBOY  www.amboydirect.com/premiumsavings 5.25%/5.35% $1/$20K min
Presidential       www.presidential.com   5.25% $0 min$35K max 

E-Loan             www.eloan.com          5.25% $500 min $5K open 
EmigrantDirect(ED) www.emigrantdirect.com 5.05% $1 min         
HSBC               www.hsbcdirect.com     5.05% $1 min
                   HSBC new money April 30前6%
GMAC               www.gmacbank.com       5.00% $500 min       
WAMU               www.wamu.com           5.00% $1 min & checking
 (open Free Checking, the one with free wire, 
  you can see that special online offer - 5.00% savings )

e-banks are safe if they are FDIC insured.  "FDIC insured" means that the government will pay you the money back if the bank is broken down

all the listed checking/saving accounts are only available online.

i think saving accounts at local banks are 99.9% fdic insured   you can always check their terms for sure

其实也没什么，一般local银行都没问题，就是利息低很多；

放网上银行的话，选择大多数人用的就好了

citi esaving, hsbc, emigrantdirect，用的比较多吧；ingdirect也很多人用，但是利息相对低点

Avoid HSBC. I had some terrible experience with them. Their customer service is the worst I have even seen.