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re: What high yield savings account do you use

Posted on 9/14/23 at 8:58 am to
Posted by Buck Dancer
New Orleans
Member since Jan 2008
4769 posts
Posted on 9/14/23 at 8:58 am to
Currently using Cap One at 4.3%
Posted by Clint Torres
Member since Oct 2011
2789 posts
Posted on 9/14/23 at 9:07 am to
VMFXX
Posted by auisssa
Member since Feb 2010
4551 posts
Posted on 9/14/23 at 9:35 am to
PayPal (Syncrony) 4.3%
Posted by JJJimmyJimJames
Southern States
Member since May 2020
18496 posts
Posted on 9/14/23 at 12:09 pm to
quote:

VMFXX

same
Posted by ob1pimpbobi
College Station
Member since Jul 2022
2637 posts
Posted on 9/15/23 at 9:10 am to
I have my emergency account at Ally at 4.4%
Posted by lsuoilengr
Member since Aug 2008
5166 posts
Posted on 9/15/23 at 10:07 pm to
Campus federal is offering 5.15% APY on 7 month deposits
Posted by lil 7thward
ATL
Member since Jan 2012
2667 posts
Posted on 9/18/23 at 7:20 am to
AMEX. I would have used Apple, but I don't want to get caught in the Apple web.
Posted by NC_Tigah
Make Orwell Fiction Again
Member since Sep 2003
131248 posts
Posted on 9/18/23 at 9:23 am to
quote:

I keep my sideline cash in Schwab's equivalent, currently compounding 5.3%
Schwab really doesn't have an equivalent to Fidelity (I use both). Schwaab is a fund. Fidelity functions more as a cash account, plus it carries $5 million in FDIC insurance ($2.5M/individual).
Posted by Mootsman
Charlotte, NC
Member since Oct 2012
6205 posts
Posted on 9/18/23 at 11:23 am to
Marcus / GS is 4.40%.
Posted by HotBoudin
Metry
Member since Sep 2003
966 posts
Posted on 9/18/23 at 11:17 pm to
UFB Direct. Went in for 5.25 on Friday.
Posted by messyjesse
Member since Nov 2015
2155 posts
Posted on 12/20/23 at 12:33 pm to
Bumping to get feedback from any Ally customers. Been making pennies in WF savings for years and am looking for something HY but still fairly liquid. We have at most maybe half a dozen withdrawals from savings every year.

I'm familiar with the common drawbacks with some online banks (no cash deposits, time after settlement to access funds, etc.) but none of these are dealbreakers for me. Not looking to close WF necessarily either but I would if I were pleased enough with Ally.

Am I missing anything?
Posted by agilitydawg
Member since Aug 2022
163 posts
Posted on 12/22/23 at 6:47 am to
I have WF for a free checking account and link it to Capital one. I have been happy with Capital one for ease of use and link to WF. I have 2 HYS a regular savings and a CD. Transactions have been easy.
Posted by 98eagle
Member since Sep 2020
2632 posts
Posted on 12/22/23 at 10:08 am to
We've been using ALLY Bank for a long time (since it used to be called GMAC Bank). We've always liked them. They have competitive high yield rates for Savings and CDs. We bought our last house wiring the full amount from ALLY. They had a wiring process that made us feel 100% safe. They have a Wire and Fraud department that is very diligent and thorough. They investigate where you wire money to make sure it is legit and they even call you during the process to cover all of the wiring details.

You can make up to 6 free transactions each month (checks or withdrawals). We do maybe one a month on average to transfer an amount for that months bills to another checking account where we pay all of our bills with bank drafts. Plus we used to transfer money to Fidelity from ALLY each year for Roth and Traditional IRAs.

You can pretty much do anything at ALLY except cash transactions.

The best part about ALLY is they have great customer service that dependably answers the phone quickly, are very professional and knowledgeable, and will stay on the phone with you giving you advice and answering all of your questions. They make their annual 1099 forms available quickly each year for tax time.

I can't speak for other online banks but I can highly recommend ALLY.
This post was edited on 12/22/23 at 10:17 am
Posted by fallguy_1978
Best States #50
Member since Feb 2018
51753 posts
Posted on 12/22/23 at 10:34 am to
I use Morgan Stanley on E-trade. It's 4.3% or something like that. Mostly because that's my primary broker and it was just convenient to setup.
Posted by geauxpurple
New Orleans
Member since Jul 2014
14868 posts
Posted on 12/22/23 at 1:05 pm to
Vanguard prime money market
Posted by Helo
Orlando
Member since Nov 2004
4666 posts
Posted on 12/22/23 at 3:02 pm to
I use Morgan Stanley and Betterment.

I wouldn't e surprised if we see the rates at the top now and they start sliding early next year.
CD rates have fallen by almost 50 basis points in the past 2 weeks.
HYSA are likely to follow.
Posted by NOSHAU
Member since Feb 2012
13087 posts
Posted on 12/22/23 at 3:11 pm to
quote:

Bumping to get feedback from any Ally customers. Been making pennies in WF savings for years and am looking for something HY but still fairly liquid. We have at most maybe half a dozen withdrawals from savings every year.

I'm familiar with the common drawbacks with some online banks (no cash deposits, time after settlement to access funds, etc.) but none of these are dealbreakers for me. Not looking to close WF necessarily either but I would if I were pleased enough with Ally.

Am I missing anything?
Been with Ally for several years and have not had any issues. Keep an eye on their 11 mo no-penalty CDs as it is really an extension of the HYS accounts due to liquidity.
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