What APY should I be getting with my savings account?

Thank you. Do you have any bank recommendations?

One last stupid question: If I have $10K in the savings, after two years would I be able to withdraw the full $10,700?

To me (and I obviously dont know what I'm doing) seems too good to be true.

I Bank with CapitalOne. Current rate on their performance savings is 3.75.

Yes, that is correct. You do have to claim it on your taxes so Uncle Sam gets his cut. You can also pull it out penalty free anytime you need it the money.

Look online for some promos. Banks are needing deposits badly, you could get $250 or so for just opening a checking account and having your work direct deposit going into that account.

I like Ally savings a lot. The buckets are a really cool feature even though it’s super simple. It’s at 3.85% currently

The Apple Savings Account through Goldman Sachs is currently at 4.15%. It's super easy to move money in and out with no limits.

Vanguard emailed me about a new savings account pilot they're launching with 4.5%. Already had a broker account with them so it was super easy to open the savings since they had all my info saved and checking account already linked.

I have Sofi, 4.20 savings. 1.20 checking.

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It was hard for me to leave a bank I had been with for decades but having hundreds of thousands doing squat and seeing rates rise forced my hand. Sucks having to shuffle finds around like you are shopping the best streaming service but that’s the current climate.

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I’ve been with (some form of) Bank of America since I was a youngster and my parents opened my first savings account at a local bank that was eventually bought by BofA. So I kind of understand what you mean. I do like BofA’s online services, like bill pay and such. So I keep business and personal checking and credit card accounts there, but I’ve never felt the need to keep excess funds there. With the ease of using modern online banking and FDIC protection being pretty much universal, may I ask what your hesitation was in finding more meaningful yields, especially for “hundreds of thousands”? I’m not being critical, but even a linked brokerage account within your bank (assuming they have an owned or associated brokerage) filled with money market products would have brought you much greater yields than what sounds like a generic savings/checking account(s).

So again, not being critical, but what kept you from exploring higher yielding products, within or outside of your bank?

Yeah, it was Thursday maybe? I think they dubbed it their "Cash plus" account.

Here's a link to an article about it. Looks like it's still being rolled out and not offered to everyone.

Cash Plus review

The bank is making a killing off you at 0.01%. They are investing your money. It should grind your gears