Erin,
The only downside I have found with GE Capital Bank Online Savings is that Mint.com does not aggregate those accounts. (It seems GE blocks Mint.) Have you heard of SmartyPig.com? It's 1% APY, works with Mint, and lets you separate funds into goals. The only "downside" with SmartyPig is that you cannot withdraw partial funds - you have to "close a goal" to withdraw the funds. For me, that's a good place to store Emergency Funds because I don't want to "sneak" money out of that account.
- Jason