I always have some cash in my chase checking account for expenses like 10K to 15K. My chase current account gives 0 APR on it. I learnt Fidelity gives 2%. Is it worth switching to Fidelity and closing the chase account? What are other alternatives? TC 400K
$15k is 🥜 and not worth the trouble of moving
Thats more than half of minimum wage earner’s annual takehome pay
First tech gives 4% on the checking account as long as you do 20 transactions a month
Open a Fidelity Cash Management account, then you can hold your money in SPRXX money market that is currently yielding 4.35%. The nice thing is that the MM is auto-liquidated when you pay bills or withdraw. When you transfer money in you'll need to put in a buy order otherwise Core pays a little less.. around 3.9%
Checking accounts main benefit = atm card Look for a High Yield Savings Account that offers you the rate you desire. Be sure to check their minimum deposit needs among others The rates on these HYSAs vary, and most don't offer an atm card (here's where a checking account looks like a atar) HYSAs rates are almost always better than checking's Seen the current rates? Keep checking and your HYSA connected to access your funds
my entire emergency fund is a brokerage account, screw savings accounts
Checkout AMEX and Discover HYSA, they give 3.4%
Marcus upped theirs to 3.75
Barclay's is around 4% these days.
Fidelity pays 4.2% without having to do anything
What account is it in fidelity ?
Chase is trash
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Robinhood Gold currently gives 4.15% and charges $5/month fee. If you select the free Robinhood account, then you get only 1.5%. Worth if if you deposit at least $2265.
But then you have to live with yourself, having money in robinhood
nah big OG, we don't believe in paying fees