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Message
Best HYSA
Posted on 8/12/26 at 12:22 pm
Posted on 8/12/26 at 12:22 pm
Looking to open a HYSA for our emergency fund. Currently $10k but will add more over the next year. Can anyone recommend one they love, or ones to stay away from? Thanks.
Posted on 8/12/26 at 12:42 pm to tigergal918
I'm in VMFXX which is yielding 3.6 but it is a money market fund rather than a HYSA. There are subtle differences that are worth reading about (it's still insured but SIPC rather than FDIC) and you could lose money if the fund's net asset value drops below 1 dollar, but if Vanguard's money market funds "break the buck," I am guessing we are in deeper trouble than just that.
This post was edited on 8/12/26 at 12:44 pm
Posted on 8/12/26 at 12:42 pm to tigergal918
mines with health equity but you have to transfer funds to a separate HSA equity account off platform to be able to trade with it. My trading acct is at Schwab
Kind of a pain in the arse
Kind of a pain in the arse
Posted on 8/12/26 at 12:45 pm to tigergal918
Does your current bank have a HYSA or MMA that has a decent interest rate. The differences between interest rates usually isn’t worth the hassle of opening new accounts IMHO.
Posted on 8/12/26 at 12:48 pm to tigergal918
X offers 6% if you keep depositing $1,000 a month
Idk how I feel about it… it’s a damn social media app, but it is insured via a backend bank and 6% is pretty sweet
Idk how I feel about it… it’s a damn social media app, but it is insured via a backend bank and 6% is pretty sweet
Posted on 8/12/26 at 12:56 pm to tigergal918
I have used CIT for several years. They are currently at 4%. Transferring back and forth is simple and quick.
Posted on 8/12/26 at 12:57 pm to Sprint7
I use CIT as well and do not have any issues with it.
Posted on 8/12/26 at 1:30 pm to wileyjones
quote:
X offers 6% if you keep depositing $1,000 a month
Idk how I feel about it… it’s a damn social media app, but it is insured via a backend bank and 6% is pretty sweet
These teaser rates never last, all about quick customer acq and you need to have X premium at least AND get an invite
This post was edited on 8/12/26 at 1:35 pm
Posted on 8/12/26 at 2:06 pm to wileyjones
quote:
X offers 6% if you keep depositing $1,000 a month
Sounds like a MLM gimick
Posted on 8/12/26 at 3:49 pm to Bunsbert Montcroff
quote:
I'm in VMFXX
I do the same thing and Sofi Savings is a little below that. I then keep my Sofi Checking at $0 and use overdraft protection to fund Checking from Savings for my day to day bills.
I don't feel like chasing rates.
Posted on 8/12/26 at 4:17 pm to tigergal918
Just buy sgov
Posted on 8/12/26 at 6:13 pm to Bunsbert Montcroff
I like VMFXX for a money market fund. However, it’s not insured by SIPC. SIPC covers your cash within a brokerage account if the brokerage firm fails, not securities you invest in.
Again, money market funds are safe, but there is precedent to them breaking the buck and the world not collapsing, e.g., 2008/2009.
Again, money market funds are safe, but there is precedent to them breaking the buck and the world not collapsing, e.g., 2008/2009.
Posted on 8/12/26 at 6:14 pm to cgrand
Just a heads up but he’s asking about a High Yield Savings Account, not a Health Savings Account.
Posted on 8/12/26 at 6:59 pm to Sprint7
CIT is always a good option that’s been near the best rate around for years now. I do think their base is 3.75%, but you can get a slight boost several ways.
Posted on 8/12/26 at 9:06 pm to tigergal918
I just use capital one because my credit card is through them and I don’t keep more than 40k to 50k in my HYSA anymore. I think my wife uses Ally or Sofi. I had a few months where I parked some money and it was an $700 a month difference so I was all over it. I’m not worried about $800 a year so I’d rather it be easy to have things on one or two apps.
This post was edited on 8/12/26 at 9:08 pm
Posted on 8/12/26 at 9:30 pm to tigergal918
Amex rate is 3% now. It's been going down lately. But still a decent rate.
Posted on 8/12/26 at 9:33 pm to tigergal918
You’re looking at 4-4.5% today on the high end. On $10,000, that’s a difference of ~$50 annually.
I would suggest shopping for convenience, not rate.
I would suggest shopping for convenience, not rate.
This post was edited on 8/12/26 at 9:37 pm
Posted on 8/13/26 at 11:16 am to tigergal918
Commercial Capital offers 8% up to 35k. This is a checking account and has requirements - such as 1 direct deposit a month and 15 debit card transactions. The transactions are not limited so I go but things for $1 or less to meet those requirements.
Posted on 8/14/26 at 8:47 am to tigergal918
I use Ally. It’s currently paying 3.00%, but was paying 3.6% last year. I’m happy with them but I get the feeling they are all about the same.
Posted on 8/15/26 at 12:49 pm to tigergal918
Had Cap One earlier this year for the $1500 bonus and now with Etrade for the $400 bonus and 4% for 6 months. No complaints with either so far.
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