I really want to set up a target date retirement account with Vanguard, but I'm a long ways away from the $3,000 minimum. I have a little over $1,000 in an ING account for travel and emergencies, but it took me nearly six months to build that up. I wish I could find a good account that allows a meager start-up amount.
I checked with my bank, and their interest rate is nowhere near ING's. From my talk, I gleaned that I would be far better off leaving my money in ING until I have enough to put it into a Target Date IRA. This might be another year or two, with moving expenses and student loan payments.
It was definitely worth going into the bank to talk it over. I found out about a new savings plan which yields a high rate of interest, but is way too accessible for my needs.
So talk to your banker today!