Anyone here have a high-yield savings account?

Board 8

Board 8 » Anyone here have a high-yield savings account?
GANON1025
12/30/2023
09:02 PM
#1
I've been looking into getting one, and have been doing research/asking around for opinions, so I figured I'd ask here as well. Besides the obvious stuff like 4%+ APY and minimal restrictions/minimums, the thing most important to me is being able to easily get to the money in the account and easily be able to transfer money to/from my Wells Fargo checking account.
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colliding
12/30/2023
09:06 PM
#2
Savings?
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foolm0r0n
12/30/2023
09:11 PM
#3
Most accounts are easy to transfer in and out online. Look at # of free transfers a month, usually it's like 5 which is plenty.

APY is tricky because they can change literally daily. They can advertise 4% and then 2 weeks later it's 0.5%. The majority of accounts you see in FB ads and such are like that. Look up a review site for ones that aren't scams like that. Even those will fluctuate rates very often because that's just how interest works. No matter what it's gonna be better than sitting in checking.
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Seanchan
12/30/2023
09:16 PM
#4
I've got one with Ally that I've been investing into for a number of years. I've got it set up with automatic weekly deposits from my checking account with a different bank. No issues.

I think I've only ever actually withdrawn from the account once. It might have taken a day or two to get into my main checking account. There's probably some limit on the number of withdrawals you can do per month, but I use it to store my emergency fund so this is not an issue for me.
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GANON1025
12/30/2023
09:19 PM
#5
Yeah, Ally is one of the ones I was looking at, seems pretty highly recommended
I find it kinda bussin, I find it kinda cap
That the dreams in which I'm dying are the ones that kinda slap
BlueCrystalTear
12/30/2023
09:21 PM
#6
My sister got me a referral to Marcus and it's been pretty great. Whenever I make a withdrawal it's done in like a day.
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KingButz
12/30/2023
09:46 PM
#7
I've used Capital One for years and have no complaints about it. I could have just as easily gone with Discover or American Express. My wife used the latter for a while with no problems.

ACH transfers to/from my checking account at my brick and mortar bank (similar to Wells Fargo) take one or two business days. And Capital One will push/pull money for free.
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GoldSlime35
12/30/2023
09:47 PM
#8
I've used Ally, Capital One, American Express, and Marcus. Haven't had any issues with any of them.

Capital One has a nice sign up bonus that expires next week if you have 20k or more. For smaller amounts, Marcus has done a bonus of $100 for 10k for both new and current customers for 5 years in a row in Jan/Feb.

https://www.capitalone.com/bank/fall23/
swirIdude
12/30/2023
10:16 PM
#9
Everyone should have an HYSA. You'll make actual money in interest, unlike a standard savings account.
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_stingers_
12/30/2023
11:06 PM
#10
i usually put all spare money into CDs, you just have to make sure you have enough for emergencies. but that yields a lot more than a HYSA
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SwiftyDC
12/30/2023
11:32 PM
#11
_stingers_ posted...
i usually put all spare money into CDs, you just have to make sure you have enough for emergencies. but that yields a lot more than a HYSA

Double your money in 10 years.
dilateDChemist
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SeabassDebeste
12/30/2023
11:37 PM
#12
i use marcus, which seems decent
yet all azuarc of all sorts are more or less capricious and unreliable - they live in the varying outer weather, and they inhale its fickleness
Board 8 » Anyone here have a high-yield savings account?