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  • high yield savings accounts? Rates?

    What are you using? Rate?
    I recently have used Betterment, was 0.4% then dropped to 0.3% and recently dropped again to 0.1%.

    Thinking of switching.

    This is for a cash EF / go to he!! fund.

    Needs to be safe and liquid.

    Anyone you would avoid? Thanks!

    (Sorry, i know this is a repetitive topic, and sorta boring).
    Last edited by Tangler; 09-13-2021, 11:02 PM.

  • #2
    Not that much better, but Ally seems to stay competitive and avoids the teaser rates. They’re only at 0.5%.
    In dollars of interest it’s not such a big deal.
    I used to play the game of shifting money back and forth with my local bank to get 6 or so months of a teaser, but it hasn’t been worth it for quite awhile.

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    • #3
      not HYSA but with the rates so low and probably not going up anytime soon (I think the fed said they'll keep rates near 0 at least through 2022....of course they could change their mind), I'm going to put 1/3 - 1/2 of my EF in ibonds. They won't be liquid for one year but they are completely liquid after that and probably will always have a better rate than a HYSA. I might just temporarily boost our EF for 6 months or so during this time

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      • #4
        Synchrony at 0.50%

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        • #5
          Citi accelerate @.0.5%

          Safe? Blockfi is still at 8%

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          • #6
            I wrote about this before, I use Bask Bank, an online bank with a physical presence in Texas. Up to FDIC-insured 250K limit. Instead of getting paid interest, I get 1% APY in american airline miles, which depending on your use case scenario vary from at least 1 cent a mile, up to about 1.4 cents a mile. Plus the kicker is for IRS interest form, their value is reported as 0.42cents a mile. I have been with them for a bit over a year, held over 100K in the account for a while, saving for a down-payment on a vacation home. Happy to provide a referral if that's the way you want to go.

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            • #7
              Originally posted by Marko-ER View Post
              I wrote about this before, I use Bask Bank, an online bank with a physical presence in Texas. Up to FDIC-insured 250K limit. Instead of getting paid interest, I get 1% APY in american airline miles, which depending on your use case scenario vary from at least 1 cent a mile, up to about 1.4 cents a mile. Plus the kicker is for IRS interest form, their value is reported as 0.42cents a mile. I have been with them for a bit over a year, held over 100K in the account for a while, saving for a down-payment on a vacation home. Happy to provide a referral if that's the way you want to go.
              Thanks for responding, but i don’t want points of any kind. I just want:
              1. safety
              2. highest savings rate (which is anemic at best, but not zero)

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              • #8
                I’ve used Ally for years. You can move money between an Ally checking and savings accounts almost instantaneously with the Ally app or website. Their rates have always been competitive with other online banks.

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                • #9
                  BlockFi is at 8% for USD stablecoin, but it is not FDIC protected. Started investing small portion in May (2021) and they have honored their rates so far. I keep most emergency liquid funds in Discover Online Savings account (Rate = 0.4%)

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                  • #10
                    We used a handful of local/regional banks that had a "Professional Banking Dept" that was geared towards physicians, dentists, lawyers. They had a specific physicians checking/savings accounts that offered higher rates, with some up to 2.5% up to $25K. We used 2 of the banks we liked and just parked the maximum amount there. Of course they've dropped the rates since then but I would check around to some of the smaller, local banks to see if any of them offer something similar for physicians. Wasn't really a hassle having multiple banks since it's essentially emergency fund money.

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                    • #11
                      Originally posted by Tangler View Post

                      Thanks for responding, but i don’t want points of any kind. I just want:
                      1. safety
                      2. highest savings rate (which is anemic at best, but not zero)
                      I don't know how you got banned, but most of your posts seemed a welcome addition around here. Be well.

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                      • #12
                        Tangler got banned? Really?
                        “Work” is a four letter word for good reason.

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                        • #13
                          Originally posted by Lithium View Post
                          Tangler got banned? Really?
                          Seems odd

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                          • #14
                            Originally posted by Lithium View Post
                            Tangler got banned? Really?

                            Yes! True!
                            Last edited by Hank; 09-22-2021, 06:45 PM. Reason: Trying to remove confusion about WCI Forums Rule 4

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                            • #15
                              Originally posted by zlandar View Post
                              I’ve used Ally for years. You can move money between an Ally checking and savings accounts almost instantaneously with the Ally app or website. Their rates have always been competitive with other online banks.
                              Went with Ally. App is user friendly and it was easy to link to checking.

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