Discover bank savings account vs wealthfront cash account ?

Amazon thihdgdy
May 12 10 Comments

Which is better for savings/checking account?

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TOP 10 Comments
  • RackWare WdGfe4
    There are institutions offering more than 2.2%
    May 12 4
    • Amazon dgdy
      Without CD?
      May 12
    • RackWare WdGfe4
      Yes.
      May 12
    • Thermo Fisher / Sales zeussical
      Care to share who?
      May 12
    • RackWare WdGfe4
      Some of them I'm aware of:

      PurePoint – 2.35% APY savings account
      PNC – 2.35% savings account
      HSBC Direct – 2.30% APY savings
      CIT Bank – 2.40% APY savings account
      May 12
  • Microsoft not-a-dev
    I’m not familiar with Discover, but Wealthfront isn’t a bank and doesn’t offer checking accounts (they very recently launched a high-yield savings account). So there you have it.
    May 12 0
  • Google __human__
    Those are fundamentally different things. Discover has a like 2% interest savings account, which is decent, guaranteed and FDIC insured. Highest interest savings right now I believe is CIT at like 2.4%

    Wealthfront is a system for spreading money across investments, like stocks and bonds. The returns are whatever the assets do, which could be 15% or it could be negative depending on what the market does, and it takes a sec to get the money out, since they have to liquidate your positions

    It depends on your risk tolerance, how long the money is going to sit there, and how much you want to be exposed to the market. Probably do both in some amount.
    May 12 2
    • Amazon dgdy
      It seems wealth front has started cash/checking account with 2.29%apy
      May 12
    • Google __human__
      Oh true, I was not aware. My bad.
      May 12
  • Thermo Fisher / Sales zeussical
    I like Barclays for savings. They are at 2.2% right now.
    May 12 0

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