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  • nmehta211
    replied
    Interesting idea.

    however a good WCI member would check out fatwallet finance high yield database which shows each bank's rate, and any sign on bonuses. Last year I used HSBC and Capital one for promotions, including a 500 dollar new account bonus, penfed's 1.5% 2 cd rate, and capital one's 1.09 percent rate. and no cost to do these transactions!

     

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  • DocEden
    replied
    Very cool indeed - appreciate you sharing

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  • The White Coat Investor
    replied
    Cool business. Probably worth 8 basis points to almost everyone.

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  • jfoxcpacfp
    started a topic MaxMyInterest

    MaxMyInterest

    Since some of the posters here have large emergency funds and/or 5-year funds, I thought you'd like to know about MaxMyInterest. It's a fairly new company that was created to help consumers get the best interest rates possible, automatically. It also makes sure your accounts are always in compliance with FDIC limits so that your money is never at risk. I met the team at a recent NAPFA conference and was quite impressed, loved the concept. MMI is subscription-based but costs only .02 basis point per quarter (.08 points per year), or 2/100% per quarter. Michael Kitces has endorsed the concept and company; good article explaining how it works here. They are rolling out a platform for advisors at same low rates.

    One of the best points in favor of the company (imo) is that they take no kickbacks from other businesses and there is no "pay to play" program in place - iow, they are a good fit with the fee-only planner model. We do not use it yet, but plan to.
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