Ally or wealthfront for saving account

Intel zd34sfg
Jul 7 14 Comments

Looking to park some cash for emergencies. Which one would you recommend?

Ally - 2.1%
WF - 2.57%
Looks like WF is no brainer. Both are FDIC insured as well. Anything else I should be mindful of?

Any other high yield savings/cash account would you recommend?

Thanks much blind!

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TOP 14 Comments
  • LiveRamp / Product qwerty415
    If WF were to go under, it might be painful to get your money since it is FDIC insured under multiple banks.
    Jul 7 0
  • Facebook lnstagram
    CIT bank
    Jul 7 2
    • Intel zd34sfg
      OP
      Thanks
      Jul 7
    • TiVo / Finance
      BoredC

      TiVo Finance

      PRE
      Gigamon
      BIO
      Working in Finance, open to seek new friends, mentors, and career advancement.
      BoredCmore
      CIT Bank dropped to 2.05% - I'm currently moving it to WealthFront
      Jul 7
  • eBay / Eng champ37ycc
    I use wealthfront and it is pretty good so far!!
    Jul 7 0
  • This comment was deleted by original commenter.

    • Intel zd34sfg
      OP
      Balance transfer is easy ( hopefully) so shouldn't be a problem with the withdrawals
      Jul 7
    • Airbnb NotAnAlly
      WF withdrawal takes 1 to 2 business days.
      Jul 7
  • Atlassian / Eng
    Luffy, M.D

    Atlassian Eng

    PRE
    Facebook
    BIO
    A prematurely grumpy somewhat old man
    Luffy, M.Dmore
    Ally customer service sucks even by bank standards. There are other banks with online accounts in a similar range.

    Fidelity is not quite as high but much better customer service and right around 2%
    Jul 7 1
    • Oracle / IT chiknwkshp
      Fidelity is not FDIC insured at 2%. only their cash management is which pays 0.4% you can get similar return at ally and guaranteed to get your money in a financial meltdown like in 2008 when money markets had considerable liquidity concerns. what customer service problems. ive had them since 2010 and certainly no issues. definitely not worse than my local credit union which has my vehicle loan
      Jul 7
  • Symantec / QA
    abcxyz2017

    Symantec QA

    PRE
    Symantec
    abcxyz2017more
    Ally as they also have trading account with lower transaction rates.
    Jul 7 0
  • Oracle / IT chiknwkshp
    Ally for simplicity of having full service bank features (bill pay, debit card,outbound wires for the occasional housing transaction) plus decent APY all in one place. the small difference in returns is worth the convenience. put the dollars you aren’t likely to spend in a 1 year CD the penalty is only 2 months interest.
    Jul 7 0
  • Intel jsjns
    Marcus (Goldman Sachs), SoFi. But I use Wealthfront
    Jul 7 0
  • Intel zd34sfg
    OP
    Lots of good info. Thanks everyone. Much appreciated!
    Jul 7 0
  • Instacart / Eng instattack
    Definitely WF
    Jul 7 0

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