“If you've been paying attention to the economic news lately, you've seen that after a period of increases, interest rates are on the downswing and projected to fall further. These market conditions impact all kinds of things, from mortgages to CDs to savings accounts. Because of this, beginning on 6/25/19, your Online Savings Account rate moved from 2.20% to 2.10% Annual Percentage Yield (APY) on all balance tiers. We wanted to make sure you were aware of this change, because to us, being straightforward is the right thing to do.” Are you keeping your business with them?
0.1% change is inline with what the whole market is doing and not worth making a change for. Ally Invest sucks a big fat one but their savings account has been solid.
Well, there's goes my retirement.
The fed hasn’t dropped rates yet, right?
Correct but the market is betting heavily that they will in july.
Treasury money market funds are best right now, higher than directly holding tbills. Also both are exempt from state income tax, unlike bank interest. Look at GABXX.
Interesting
Why are so many people keeping when it takes tens of seconds to move your money to higher interest rates? Unless your emergency fund is super small the roi for a few clicks is huge.
2.1% interest rate on cash is pretty hard to beat.
Marcus 2.25% Wealthfront 2.51%