re: Savings Account Interest Percent Doubled in a Month

Yeah that's what I'm thinking. How big of a pain in the arse is it to move over to a new account? Never done it

quote:

---

Isnt high yield just marketing for savings?

---

Just a different type of savings account. Federal law limits HY savings accounts to six withdrawals or transfers of money (including electronic and wire transfers and checks) each month without any penalty.

Since rates on T-bills are more attractive and have greater tax benefits than these accounts, I only use them for expense money that I’d typically keep in my checking account. Once a month or so, I make a transfer from the HY savings account into my checking acct. Everything else is going into a T-bill ladder (13 weeks max maturity for now, yielding about 4.5%). The bills are fully marketable (in my brokerage account), so if I did get pressed, I could liquidate them and have the money in short order.

I opened the Capital One Performance within a few minutes. It didn’t take long at all.

Think I'll be doing this shortly

Yall weren't kidding. Took me minutes to open and have a transfer pending to new high yield account.