What high yield checking account do you use?
I'm too lazy to redistribute cash every other week so I'm looking for set-up-and-foret type of checking account that would yield 2+% APY. Please, share your experiences.
Amex and Discover
Discover is 1.8%, though if rates keep going down, so will it.
Checking or savings? Savings is topping out at about 1.9%. Checking can get up to 4-5%, though. But only for the first $50k or so.
A checking account that will yield 2%? Lmao here I thought everyone on Blind was younger than 65. Welcome to the new millennium, grandpa.
Not every dollar needs to be invested. Sometimes you just need to preserve some capital for an upcoming purchase or many other reasons to keep something in an account that would just keep up with inflation.
The 10yr is at 1.83%. The 3mo is at 1.56%. Fed funds is now 1.75-2.00. Any bank who is PAYING you 2% for a simple checking account is signing up to make razor thin interest, IF any. A CD, maybe, because of the illiquidity premium you’d receive for locking your money up for a period of time. But a freely accessed checking account? No way unless there’s a catch, ex: deposit 20k and you get 2% on the first 5K and 0.04% on the rest so they can make up their net interest margin.
Dream on. High yield checking, wahahah
Too lazy to make 3 clicks?
https://www.providentcu.org/index.asp?i=checking&search=super 2% checking account for up to $25k
Thanks! That's a good limit with low requirements.
Savings account keep adjusting their rates with fed rate change, even if someone offering 2% today, not guaranteed it will be same after two months. For ex wealthfront reduced from 2.5 something to 1.82 gradually in few months. One alternate idea is to open no penalty CD, many online banks like ally etc offer this. In that you are guaranteed to get that rate for specified period like 6 months or 1 year.. open multiple cd and beak only if needed.
Any thoughts on Ally Bank?
I think folks who've used them are happy; but majority of banks are easily accessible online nowadays. What are some features that you're looking for? Also, checking, savings or both? I've heard good things about Charles Schwab with no ATM fees worldwide and free checking as long as you open a brokerage account.
I am looking for banks that offer trust accounts.
Wealthfront. But no one is offering consistent 2% APY... so yeah.
CIT was up to recently, now only Citi Accelerate. I’m moving my money there