High yield savings

[Gunner]

Anyone have one? Been looking for one but needs to have Zelle or an easy way to transfer funds. Any recommendations?

Not looking for the answer of ?don?t trust banks? ?only put my money in the yard? or ?I want a brick and motor bank?

I?m not putting all my stuff in this account. Just diversifying some stuff with a possible 4% Apr


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[rfenster]

US Bank does Zelle and has a 4% or 4.5% Money Market. Need to maintain $10k balance for zero fees.

Schwab has 4.5% Money Market, but not sure about Zelle.

[sportbikeco]

also check out Discover 4.35% and Betterment 4.75%

[OneGuy67]

Synchrony Bank. Online. Easy access to transfer to other accounts. 4.75% APY as of today. No minimum, no monthly fee.

[asystejs]

FIDELITY GOVERNMENT MONEY MARKET FUND (SPAXX)
is currently at 5%

[emiller35]

I?ve personally used Barclays and Ally, both online, with good success. Not sure on the Zelle piece but both of them transfer in 24 hours so it?s fairly instant as far as big institutions go these days


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[battlemidget]

FIDELITY GOVERNMENT MONEY MARKET FUND (SPAXX)
is currently at 5%

Big fan of Fidelity, they've done alot for me personally and I'm a nobody.

[BushMasterBoy]

https://www.forbes.com/advisor/l/high-yield-savings-accounts/?utm_content=147344126094&utm_term=kwd-12985646&utm_campaign=20072648380&gad_source=1&gclid=CjwKCAiAnL-sBhBnEiwAJRGigkswxI1LOfb2LfgRCw5ro_NeZLQFIm4CL4Z-Cr8u_3Gf44DFICklHhoC8UYQAvD_BwE&gclsrc=aw.ds


Per Ardua ad Astra

[Little Dutch]

I was just notified that wealthfront is dropping their interest rate to 4.5% from 5%.
I haven't done any research yet, but maybe you folks could save me some time. Anyone else running a flat 5% savings account, or do I need to start staggering 3 month CD's at 5%?

[Jer]

Not anymore. Our 4.5% money market w/USBank just dropped to 2% bracing for impending financial collapse and other various FUD I assume. That ship has sailed at appears.

[eddiememphis]

Bellco has a 4% saving account with $1000 minimum

[sniper7]

I get emails from American Express about 4% savings accounts not sure on minimum balance

[OneGuy67]

The Fed cut interest rates .5% last week. The savings percentages rates will go down as well. My high yield Synchrony accounts dropped from 4.75% to 4.5% afterwards. Currently at 4.5%, but I expect them to continue to drop as the Fed drops interest rates in the coming months.

EDIT: I just checked their CD rates and they all fell pretty substantially. Around 4% for anything over 12 months verses 4.9% on the CD I started in May. I am assuming they are predicting the Fed to also continue to drop interest rates.

[FoxtArt]

Don't expect dramatic cuts in the fed interest rate even if we go into recession (which we are).

We're in a new age where trust in our gov debt is much lower. The only way to continue selling it, is to keep interest rates high. Our deficiet spending will not be cutting, only growing, since we're past the "buying votes" point of end-stage government.

They will do a few, but the days of 2.5% mortgages will never come back in our country.

[BushMasterBoy]

The last 16 years I have been buying silver. The price was about 6 bucks an oz. The spot price is $31.62 right now.

I might trade it all for gold eventually. I think the smartest place for cash is to make your self debt free first.

I never pay spot for silver. There are always a few sellers that will part from their silver below spot for fast cash.

High yield savings has capital gains tax of 28%

CD's tie up your capital. There are way better investments

[Grant H.]

FNBO Direct - not sure on Zelle - I don't use any of the "free" transfer options, if you aren't paying them for their "product", YOU are their product...

Fidelity SPAXX

[BushMasterBoy]

Silver just went to $35+

https://www.msn.com/en-us/money/watchlist?id=auvwr7&ocid=winp2fptaskbar&cvid=94b6094d383c4acdd510cfe0405b7a18&ei=5

[Jer]

Not anymore. Our 4.5% money market w/USBank just dropped to 2% bracing for impending financial collapse and other various FUD I assume. That ship has sailed at appears.

Just a quick update on this in case anyone else finds it useful: we changed our savings account type to a "Smartly" savings account (still w/USBank) and it's back to over 4% interest.

We made the change to be eligible for the new Smartly credit card coming out that will give up to 4% cash back on ALL purchases if you have enough assets with them and have a Smartly checking & savings account. Pretty sweet deal. We have a Citi Bank card we use for all of our purchases right meow and it gets 2% cash back on all purchases. We probably spend more than we should so doubling our cashback from our purchases represents a noticeable amount of money.

The card's cashback % is structured based on total combined assets with the bank. Even the lowest tier is still 2.5% cashback with only $5k in a savings account so even the bottom tier is really good. $50k in total assets gets you to 3% and $100k in assets unlocks the full 4% cashback. No category requirements or anything like that.

It's not for everyone but if you keep assets with USBank already it's pretty darn solid and tough to beat.

[arbol]

You really want to be in the stock market.

All those trillions of dollars that the government is paying piss ants?

They end up in the stock market.

Buy an index fund from vanguard, or fidelity, or schwab, reinvest dividends, and call it good.

-John

[Jer]

You really want to be in the stock market.

All those trillions of dollars that the government is paying piss ants?

They end up in the stock market.

Buy an index fund from vanguard, or fidelity, or schwab, reinvest dividends, and call it good.

-John

This is where all of our retirement/investment money is parked: FXAIX to be specific. It'll be there for decades and I don't care what the market is doing today or tomorrow either. Ride it out baby!

[Little Dutch]

You really want to be in the stock market.

All those trillions of dollars that the government is paying piss ants?

They end up in the stock market.

Buy an index fund from vanguard, or fidelity, or schwab, reinvest dividends, and call it good.

-John

This is a good piece of advice. Or at least I hope it is as mine is with Schwab.

Based on what I am seeing the 4.5% Wealthfront account is still the best option for a traditional savings account liquid savings.