Any known negatives with keeping money with this online savings bank accounts? Capital One gives 2% and other banks like Amex, Discover gives 1.88%. Capital one has $1K initial bonus too. What could be the catch compared to Bank of America or other savings bank accounts eg chase or WF? Couldn’t find anything by Googling.
The only downside is there is no way you can deposit paper cash since they don't have physical branch. You can only online transfer money there or mail them a check, which will take several days to clear.
We have ATMs. Or, you could use another bank's ATMs and pay a little fee if you can't find one... OR... Use Chase for your primary checking account, and use a savings account with C1, and then just do occasional electronic transfers like you normally would. Btw, I'm leaving this shit hole for Amazon. Last day is the 16th. 😁 No Kool-aid here. JP Morgan/Chase has straight horseshit for their savings accounts. Total fucking rip off. I had one for the longest fucking time, and I think their fees were greater than the accrued interest on the account. Capital One really has been pretty solid about zero fees. You're probably better off with a money market account or "CD" (Certificate of Deposit) though.
What fees are you referring to . Didn’t see any fees deduction in chase checking or saving account