Does anyone have any advice or know anything about MMA accounts? If you don't, I suggest you find out since it couldn't hurt. Up until this year I've had around $4k in a "young savings account" that paid a bullshit .20% APY.

I've been considering a CD, but since I've got one year left in high school I don't want my money all locked up and for short-term CD's, some MMAs still pay out better APY.

I've done some research and I think HSBC would be the best option since they have a $1 opening fee and you don't need a minimum balance. Plus they're pretty reputable and pay one of the current highest rates at 3.50% APY.

Also, since this is something I'm just beginning to breach, is 3.50% a typical rate you would get even in good economic times?

Australian banks are offering between 7 and 9 percent PA.

INGdirect.com.au check it out.