I'm looking to open a purely savings account for my emergency fund and extra savings, and their HYSA is highly attractive to me at 1.8%. I'd appreciate if anyone could share their experience! Thanks!More replies. [deleted] •. Really happy Ally customer of 6 years. The difference in rate between Ally and Marcus is 0.05% in favor of Marcus. If you have 10k in there, that means you are going to earn 42¢ more per month. sketchymidnight. •. Ally is best even though their rate is lower. I want to open a HYSA and found that ally and marcus sach are both popular choices but marcus sach has a referral/sign up bonus. Not sure if that bonus is worth it since it is only for 3 months. Which one would you recommend? I currently have $60k in a checking account (Bad. I know. Paulsur • 1 min. ago. Last year an HYSA would have lost money compared to rate of inflation. Here is performance for SPHD: 1-Year-0.43%. 3-Year8.51%. 5-Year2.65%. 10-Year7.71%. Pretty good if you are using SPHD as part of …Customer service is important to many people and Ally and Discover get good marks. Ally is popular because it’s an overall solid bank. Good app, good APY, fast transfers, 24/7 customer service, etc. there are other good options but personally I use Ally for HYSA and checking. Never have issues and have been pleased.In today’s digital age, having a strong online presence is crucial for the success of any website. With millions of users and a vast variety of communities, Reddit has emerged as o...The real question is how the 0.5% "high yield" accounts can stay in business when you can get plain accounts paying 1%, and much higher with some limits: 1% with no limit at T-Mobile Money. 2% on the first $20,000 at Elements Financial Credit Union, requires 15 withdrawal transactions per month but bill pays qualify. Bogleheads are passive investors who follow Jack Bogle's simple but powerful message to diversify and let compounding grow wealth. Jack founded Vanguard and pioneered indexed mutual funds. His work has since inspired others to get the most out of their long-term stock and bond investments by indexing. Active managers want your money - our ... Apr 3, 2566 BE ... 4% of $150 is $6 (this is for the entire year, not each month), divided by 12 months would be $0.50 per month, and the amount would be prorated ...it’s normal. many banks have a interest rate of 4-5%. the issue is that it’s just a HYSA and the APY can go down at any time without a heads up. if you aren’t looking to spend your savings soon, i would look into a cd. the …Your HYSA APY is now going up by .10%!” They have done this since rate hikes began so they are benefitting from the arbitrage of not heightened rates as they are experienced in …Jan 15, 2566 BE ... According to DoctorOfCredit/DepositAccounts, there aren't that many HYSA above 4.5% right now, you might be looking at CDs or restricted HYSAs ... None of the above. A MMF at a major brokerage will gets you ~5%. If you want a bit more 3 month t-bills either direct or ETF (i.e. TBIL) will get you 5.2%. That will be state tax free so depending on state tax rate it would be comparable to a HYSA offering 5.4% to 5.7%. McKoijion. • 5 mo. ago. Ally Bank for HYSA. My personal credit card has a limited time offer to transfer funds into a performance higher yield savings account. My USAA Savings account gets 0.01%, and a USAA Performance First account would get increasing APYs, but for comparison sake, 0.5% at $50,000. My personal credit card, for $50,000, is offering 2.35% AND a …I haven’t seen it here yet but I use Current in conjunction with AMEX and Chase and haven’t had any problems since 7/22. The only drawback with Current is that you get max interest 4% only up to $2000 in each savings pod with a maximum of 3 pods ($6000). I have the rest in an AMEX HYSA no issues with Chase. Marcus HYSA Referral code (March 2024) Hey everyone, I have a referral link to open a HYSA with Marcus (Goldman Sachs). I have five spots open. The savings account is at 4.5% APY right now, and if you use my link it'll put you at 5.5% APY for 3 months. Also, once you use my link and open an account, you can also refer 5 people. to maintain the ... You can instantly move money between Ally accounts on the website or in the app so this really shouldn't matter much. A HYSA (High Yield Savings Account) is exactly that, a savings account. If that's what you are wanting, just the generic 'Ally Savings' account at 3.75% is what you want.HYSA, FDIC insured. interest fully taxable. Funds are considered fairly liquid, 2-5 days I'd guess. CD's , FDIC insured. Interest fully taxable. Funds are locked for the term of the CD. MMMF, no FDIC, but thought to be really really safe anyway. Interest taxability depends on the fund, some invest in treasuries, so a percentage would be state ...Ant10117. •. Your statement is true for APR (annual percentage rate) but 5% annual percentage yield (APY) is 5% growth so $1,000 would become $1,050 after one year either way. SoFi takes your daily balance and calculates the interest (based on the APR not APY) but they do not apply that interest to the account until the end of the month ...Nov 1, 2566 BE ... They pay 0% until 10k and 0.8% after that on CHF. Around 3% on EUR and 5% on USD but with the same 10k threshold. Absolutely not worth it unless ...If you think that scandalous, mean-spirited or downright bizarre final wills are only things you see in crazy movies, then think again. It turns out that real people who want to ma...it’s normal. many banks have a interest rate of 4-5%. the issue is that it’s just a HYSA and the APY can go down at any time without a heads up. if you aren’t looking to spend your savings soon, i would look into a cd. the APY will be locked in for however long you set the duration to. downside is that you won’t be able to …Reddit, often referred to as the “front page of the internet,” is a powerful platform that can provide marketers with a wealth of opportunities to connect with their target audienc...I didnt save anything until December. Sock away a couple pay checks in HYSA, delay paying until April 15th on the dot and be done. Not hard. If you can calculate your estimates have three W2s should be easy peasy. Its just entering #'s into turbo tax. You're done in an hour, no different than changing jobs mid year. No need fancy CPAs for that. But the service becomes infinitely better once you have AMEX credit cards. You can then link your HYSA to your Amex cards which you can check via the AMEX app. Whether to check your balance, transfer money which you can now do, and even use the account IF NECESSARY to pay down your balance! Mind you both AMEX customer service teams are separate ... I'm looking to open a purely savings account for my emergency fund and extra savings, and their HYSA is highly attractive to me at 1.8%. I'd appreciate if anyone could share their experience! Thanks! I want to open a HYSA and found that ally and marcus sach are both popular choices but marcus sach has a referral/sign up bonus. Not sure if that bonus is worth it since it is only for 3 months. Which one would you recommend? I currently have $60k in a checking account (Bad. I know. Dividend and Savings are different. Dividend-what you received as a cashback for putting your money in the stock market. More risk than savings because you could lose your initial cost base, but also more upside for returns. Savings-interest rate is received from bank as a thank you for parking your cash with them.More replies. [deleted] •. Really happy Ally customer of 6 years. The difference in rate between Ally and Marcus is 0.05% in favor of Marcus. If you have 10k in there, that means you are going to earn 42¢ more per month. sketchymidnight. •. Ally is best even though their rate is lower.So basically they make money by taking on fixed income assets that have a higher interest rate than they pay you. iheartpizzaberrymuch. • 1 yr. ago. A high yield savings account is good if you don't move your money around often because after 5 outgoing transactions a month you are charged a $10 fee.Wealthfront is my only taxable account and my goal is tax efficient growth over next 25 years. Currently sitting at 110k in the cash account, 38k in the investment account, and 10k in the bond portfolio. Will hold back $25k in cash for emergencies but would like advice on allocating the rest (and over what timeframe).Like u/DavidTVC15 said, I too have a checking, savings, and CC with Discover, but have only been a client for about two years.. I haven't experienced the issues others experienced either, even after depositing nearly $6,000 into my HYSA with them. From what I've seen and gathered from people who've experienced issues - it seems that accounts that are …Hey y'all, Looking to park ~30k (emergency fund + beginnings of saving for a downpayment) in a HYSA. I've heard good things about Ally, but there are a LOT of options for high yield online banking nowadays, some of which are up to almost 5% interest as of this month.18 votes, 11 comments. true. Only thing I can say is some banks may guarantee you a specific interest rate for a X months or something, whereas a money market fund is going to be forced to respond relatively quickly to the interest rate environment (which in a rising rate environment is great, in a falling rate environment can be detrimental, and in whatever …Best High-Yield Savings Accounts for February 2024 - CNET Money. Advertiser Disclosure. Money Banking. Best High-Yield Savings Accounts for February …Ally's HYSA is at 4.25% and Alliant is at 3.10% while I'm seeing more and more financial institutions over 5% on depositaccounts.com. The problem is knowing which of the top interest payers right now aren't going to pull the rug out like you said. ... Thank you, kind reddit userEarlier this year, Apple released the 4.15% HYSA (now 4.25%) and had been investing in it every month. I also opened an AMEX HYSA account 4.30% (now 4.35%). However, after using my newly found free time to scroll reddit and focus more. ... As an official Fidelity customer care channel, our community is the best way to get help on Reddit with ... Interest rates will change all the time, so no one bank will always have the best rate. All of those options are good. However, Marcus does not have a checking account. Ally and Discover both have checking and savings accounts. rons27. Investments in a target date fund within the IRA will yield a higher return long-term than a savings account. Additionally, the earnings grow tax free (unlike your savings account, where you pay taxes on the interest earned each year) and all withdrawals once you hit retirement age (59.5 for the Roth IRA) are tax-free. HYSA alternatives on Fidelity or Schwab? Money market funds at these brokerages have very good +4% APYs. (SPRXX, SNVXX) Both also offer checking with very good benefits, no fees and I’ve had good experience with their customer support. It seems to me that these might be a replacement for an HYSA/Checking account, on top of also holding ... I opened mine a couple months ago when they were offering $450 with deposit of $35000. I had a hard time transferring money from our PenFed savings to discover when I opened my account. So I had PenFed mail me a check then turned around and deposited into Discover account. Received the $450 a few days later in my account.To get the daily interest, you could divide $205/365 = $0.56 per day. 2.05% APY is the end result of an unknown APR r compounded monthly for a year, i.e. Hence, r = 2.0309871%, and the daily rate for this year is r / 366. If compounding was daily, change 12 to 365 or 366. If there is no compounding inside a year, then APR = APY.SoFi Bank, N.A. is a digital experience powered by the SoFi app featuring SoFi Checking and Savings accounts that allow you to save, spend and earn cash-back all in one place. Members can earn up to the highest APY on their Checking and on Savings with active direct deposit. Members without direct deposit will still earn … Only the interest gained is taxed. So if in the 24% bracket and if in a calendar year you deposited $100 and it ended at $103. You'd pay 24% tax on $3, aka $0.72, leaving you will $2.28. Just divide the APY by the amount kept (100% - tax bracket %) to see the effective earnings. A 4% APY in the 22% tax bracket means you net 3.12%. I recently opened a HYSA account in December 2022 with Capital One at 3.4% interest. They also had a $1k bonus if you kept over 100k in the account for 90 days. It has been 90 days now and the bonus should be paid out by June, & I am seeing Wealthfront offering 4.55% APY (with a referral code, the extra .5% is only for 3 …Roth IRA - tax free when you want it. Keep 3 months of emergency fund in your HYSA. I was doing treasury bill ladder to for emergency fund but that looks to be moving. Your approach is technically less “optimal” than dumping it all in now, but your approach dollar-cost averages which is plenty healthy to do in uncertain times.Question about Western Alliance Bank. Saving. Hello everyone I recently deposited $60,000 using the website called savebetter.com and my money is currently sitting in a high yield interest savings account with Western Alliance Bank Western Alliance Bank is supposedly on the verge of collapse should I withdraw my money as soon as possible or ...In contrast, there are banks and credit unions (usually online only) that offer much higher interest rates. So for example the current average rate is around .40% to .55% and up till pre-2020, it was around 2%. There is nothing particularly special about HYSA vs regular savings accounts other than the interest rates.Thanks! UPDATE: This post looks like it is still getting some traction, I did decide to sign up for Wealthfront since this post and wanted to give my own thoughts and opinions. - Wealthfront is different from other traditional high yield savings account, where Wealthfront does not offer the standard HYSA - instead you are opening a "cash" account. A total bond index is used by many investors, which has an average duration of 6-8 years typically, and a more advanced method that is in line with matching your investment horizon would be to use long term (20-30 year) treasury notes or, TLT etf etc. I bonds are likely very good use of space for retirement money but < 1 year t bills and HYSA ... Are you looking for an effective way to boost traffic to your website? Look no further than Reddit.com. With millions of active users and countless communities, Reddit offers a uni...galactica_pegasus. • 5 yr. ago. If you think you’ll need the money in <5 years then stick with a HYSA. If you think you won’t need the money for 5+ years then use a taxable brokerage and a broad-market index fund like SCHB or VTI. r/personalfinance.HYSA alternatives on Fidelity or Schwab? Money market funds at these brokerages have very good +4% APYs. (SPRXX, SNVXX) Both also offer checking with very good benefits, no fees and I’ve had good experience with their customer support. It seems to me that these might be a replacement for an HYSA/Checking account, on top of also holding ...Thanks! UPDATE: This post looks like it is still getting some traction, I did decide to sign up for Wealthfront since this post and wanted to give my own thoughts and opinions. - Wealthfront is different from other traditional high yield savings account, where Wealthfront does not offer the standard HYSA - instead you are opening a "cash" account. A total bond index is used by many investors, which has an average duration of 6-8 years typically, and a more advanced method that is in line with matching your investment horizon would be to use long term (20-30 year) treasury notes or, TLT etf etc. I bonds are likely very good use of space for retirement money but < 1 year t bills and HYSA ... Which banks do you trust and have a HYSA with? Thank you. CIT 5.05% (minimum of $5000) or Redneck Bank 5.05% (no minimum but limited to 100k). Also consider Raisin, it’s a custodian intermediary that lets you easily move between multiple banks (still FDIC insured). They currently have two banks with 5.25%.A lot of people have been talking about I Bonds but if I do the math, I think i'm better off keeping the cash in an HYSA? Let's say I have $70,000 in…A few reasons: brick and mortar locations have value. withdraw specific denominations of cash. deposit cash. notary services. people see the signs for bank branches and don't see signs for online banks. I personally use a brokerage account as a checking/savings account, and I think it works well.Transitioning my HYSA to I Bonds. I know I'm a bit late to the party here, but bear with me. I have an HYSA with ~$10,000 stashed away for emergencies, etc. I get a decent APY, but after reading about I bonds on here I think it might make sense to split up this $10k. I'm planning to move around $5k into I bonds and leave the rest in the HYSA.HYSA yields are more variable than money market yields, and do not follow federal funds rate as closely. Another key benefit of money markets is a portion of money markets are state tax exempt. If you live in a 50% state, such as CA or NY, money markets may be fully state tax exempt, depending on the specific components of the money market ...Nov 21, 2565 BE ... E-trade HYSA, Marcus, Capital One 360. Have experience with all those, and they all work fine and have good rates.r/HYSA_Discussion: Community to discuss the best HYSA accounts currently available.High yield savings accounts are garbage. You’ll make more money buying municipal bond funds like MUB. This type of debt is rare to default and if 1 bond in a fund of 1000 goes up its hardly an impact. They are actually positive for the year and we’re positive in 2008. Fact is you have capital gains and dividends.Roth IRA - tax free when you want it. Keep 3 months of emergency fund in your HYSA. I was doing treasury bill ladder to for emergency fund but that looks to be moving. Your approach is technically less “optimal” than dumping it all in now, but your approach dollar-cost averages which is plenty healthy to do in uncertain times.If you can find an invite, HMBradley is a good spot to park up to $100k at up to 3.5% and lots of fine print; Series I bonds are 3.5+% right now if you can tolerate a one-year lock-up; otherwise you're looking at ~0.5% most places. If you have access to a consistent 0.75%, it's worth exploring to see what the terms are. Yeah but series I bonds ... HYSA are for short-term savings. (Less than 3 years typically) They carry basically no risk and always gain numerical value, but may still lose value to inflation. Stock market is for long-term investments. (More than 3 years typically) These carry risk and may lose substaintial value or gain substantial value. Interest rates will change all the time, so no one bank will always have the best rate. All of those options are good. However, Marcus does not have a checking account. Ally and Discover both have checking and savings accounts. rons27. With HYSA’s yielding 3.5-5% interest (paid monthly) vs. most dividend ETFs landing in the 3% area, is it a fair short term (6-12 month) play to just stick the cash in the HYSA? Other route for me would be brokerage. I’m ignoring the appreciation factor of the ETF but may not fully understand how much weight it carry’s. Still pretty new at ...r/FIREyFemmes. • 2 yr. ago. soniya42423. I want to open a HYSA with Ally Bank this week, don't know where to start and have a few questions! Hi all, so I want to open a high yield savings account where I can …Advertising on Reddit can be a great way to reach a large, engaged audience. With millions of active users and page views per month, Reddit is one of the more popular websites for ...Ant10117. •. Your statement is true for APR (annual percentage rate) but 5% annual percentage yield (APY) is 5% growth so $1,000 would become $1,050 after one year either way. SoFi takes your daily balance and calculates the interest (based on the APR not APY) but they do not apply that interest to the account until the end of the month ... Many times they are "teaser" rates. They offer above market rates to attract new business when it is a new offering, and then lower to market/below market in the near future, hoping you are too lazy to switch to a different bank. The ones in the high 3's probably don't have these requirements, the ones 4.5%+ are more likely to. Looking to put money in the Everbank HYSA performance savings account which has 5.15% APY. Would like to hear some experiences from current customers of this bank. How is the customer support, app interface etc.? ... This subreddit has gone dark as part of a mass protest against Reddit's recent API changes, which break third-party apps and ... Ally's HYSA is at 4.25% and Alliant is at 3.10% while I'm seeing more and more financial institutions over 5% on depositaccounts.com. ... Thank you, kind reddit user Thoughts/experiences on UFB Direct HYSA. I just discovered them here on Reddit yesterday. While they seem legit, I always find it a little weird when I discover a bank I've never heard of before. Their Savings account offers 4.81%, which is the highest I …HMBradley is 1% or 3% if you have their credit card. You need to direct deposit $1500/month and spend $100 with their credit card to reach 3%. Credit card is $0 first year and $65/y after. CC gives you 3% Cashback on first spending category, 2% for second, then 1% rest. r/personalfinance. I haven't experienced the issues others experienced either, even after depositing nearly $6,000 into my HYSA with them. From what I've seen and gathered from people who've experienced issues - it seems that accounts that are recently opened are getting falsely flagged for fraudulent activity and Discover just doesn't have the staffing to keep ... 3% at One Finance. No limit, but funding the 3% account is limited to 10% payroll/benefits direct deposits, up to a maximum of $1,000 per month. 1% at T-Mobile Money. No limit or requirements. HM Bradley is going to be the highest rates, but with new, extremely high, hoops to jump through starting Feb first.As the Fed raises rates, HYSA rates go up, too. Most are between 3.75 and 4.25 right now, depending on whether or not they feel like they need to offer a higher rate to get people in. Ally and Discover are at 3.75% right now, for example, as they're big and don't really need to scramble for customers.Not sure what you're planning to use the money for, but assuming it's a big ticket item like a house or car, the flexibility of a HYSA could be very useful given how rapidly those markets are changing. Schwab had some 12-13mo CDs at over 4%. Not sure about any fees though. CDs are trick or treat.Hi All, I am looking to open a HYSA and start with $7,000. I've narrowed it down to Synchrony (1.55%), Goldman Sachs (1.50%), and Amex (1.45%). I'm heavily leaning toward synchrony, but I can't find a lot of information about how they are...if people like this HYSA, customer service, et. Reaching out to this community to see if anyone has had ... The real question is how the 0.5% "high yield" accounts can stay in business when you can get plain accounts paying 1%, and much higher with some limits: 1% with no limit at T-Mobile Money. 2% on the first $20,000 at Elements Financial Credit Union, requires 15 withdrawal transactions per month but bill pays qualify.
HYSA is insured by the government of up to %250k per account. Money market funds can break the buck like for instance in 2008. Very rare but during big recessions, each of your $1 could be worth $0.92. Money market funds are SIPC insured while HYSA is FDIC insured. SIPC is not government endorsed while FDIC has the entire treasury backing it.. Frontier wifi
Quick Answer. High-yield savings accounts provide larger returns on your savings, making them a valuable vehicle to save money. The amount you should save … Recommendations for HYSA? : r/Bogleheads. Go to Bogleheads. r/Bogleheads. Bogleheads are passive investors who follow Jack Bogle's simple but powerful message to diversify with low-cost index funds and let compounding grow wealth. Jack founded Vanguard and pioneered indexed mutual funds. None of the above. A MMF at a major brokerage will gets you ~5%. If you want a bit more 3 month t-bills either direct or ETF (i.e. TBIL) will get you 5.2%. That will be state tax free so depending on state tax rate it would be comparable to a HYSA offering 5.4% to 5.7%. McKoijion. • 5 mo. ago. Ally Bank for HYSA. A user asks why they should open an HYSA that pays 0.6% when they can't afford to save much more than $1000. Other users reply with their opinions, tips, and experiences on …it’s normal. many banks have a interest rate of 4-5%. the issue is that it’s just a HYSA and the APY can go down at any time without a heads up. if you aren’t looking to spend your savings soon, i would look into a cd. the …18 votes, 11 comments. true. Only thing I can say is some banks may guarantee you a specific interest rate for a X months or something, whereas a money market fund is going to be forced to respond relatively quickly to the interest rate environment (which in a rising rate environment is great, in a falling rate environment can be detrimental, and in whatever …So for example, if I had $10,000 in a HYSA and their interest rate is 4.5%, I could earn $450 in a year from them compared to if I had $10,000 in a regular savings account with an interest rate of 0.01%, where I would only earn $1 in a year?Use whichever one has a higher rate. As a side note, HYSA and money markets aren't an investment. They are just holding vehicles for liquid cash. Both are fine for under 5 years and a specific savings goal. Money markets are available through Fidelity for over 3% as a settlement fund. Not hard to find 3.25% or so.UFB Direct. Milli. Zynlo Bank. Synchrony Bank. EverBank. Upgrade. Maximize returns: With APYs often several times higher than those offered by traditional savings accounts, high-yield savings ...11K votes, 1.2K comments. 5.3M subscribers in the YouShouldKnow community. I’ve been using Prosper. It’s kinda like kickstarter for debt. Someone wants $10,000 to refinance their credit card debt and that debt is split into $25 increments and sold to investors who get a cooresponding share of the interest and principal payments …I personally split the difference - I have some in a MMF and some in a HYSA (note: avoid Citibank if you ever want to see your money again). The only reason I could think of is that it usually takes longer to move money (e.g. ATM, wires, transfers) around with a money market account vs. a HYSA, especially in an emergency or otherwise time ...11K votes, 1.2K comments. 5.3M subscribers in the YouShouldKnow community. I’ve been using Prosper. It’s kinda like kickstarter for debt. Someone wants $10,000 to refinance their credit card debt and that debt is split into $25 increments and sold to investors who get a cooresponding share of the interest and principal payments …Best High-Yield Savings Accounts for February 2024 - CNET Money. Advertiser Disclosure. Money Banking. Best High-Yield Savings Accounts for February …Welcome to the HYSA's (unofficial) Reddit page! If you're a student and want your username to be listed here, PM u/BalinKingOfmoria. Students so far (who want to be listed): u/BalinKingOfMoria. u/Lightbikemaster (hope you don't mind, buddy). Fun facts: This uses the truly incredible Naut theme based off of Google's Material Design. Check it out!The only pitfall is not having access to the money during the first year but this doesn't really concern me. Otherwise if rates for HYSA increase in the future you always … Same happened with me and then I noticed on their website they have a new HYSA offering 5.25% so I went on their online chat and customer support converted my Preferred Savings (4.5%) to their new HYSA. Easy peasy. .