High Yield Interest Savings Accounts.....which do you recommend?

[MichelleB]

I currently have an account with Ally and am closing it and looking for another. We also have a Capital One 360 account so I already know of that one. Does anyone have experience with American Express or Synchrony? Any others you use that you like?

 

[ibob52]

BARCLAYS ... online bank

 

[NancyIL]

We have both Ally and Synchrony savings accounts. Neither are exactly "high yield" - but their rates are better than money market mutual funds.

Another option is Discover Bank.

 

[nat8199]

I use Ally and Barclay. I like them both, but use Ally more frequently. Can I ask why you are leaving Ally?

 

[CalDisneyMomof2]

From the research I've done tonight, MySavingsDirect is at 1.25% and FDIC insured.

 

[Cadiewampus]

Isn't High Yield Interest Savings Account an Oxymoron?

 

[lost*in*cyberspace]

Isn' High Yield Interest Savings Account an Oxymoron?

It is these days!

 

[MichelleB]

Sure. You couldn't pay me enough to stay with Ally right now. We have $25,000+ with them at this moment. I add money into our accounts on a monthly basis and have for almost a year now (same computer .... you'll see why I say this in a minute). Yesterday, I logged in to put through the transfer and my credit union checking account was not showing (only the 4 sub accounts we have with Ally so no way to add or remove money from the ally accounts). I called and the cust serv rep said that it was delinked and my husband must've done it. My husband vaguely knows we have this account and has never logged into it. Our finances are my job and not something he gets concerned about unless I say something. Honestly, I'm not sure he even remembered we had the account until yesterday. Anyway, the cust serv rep said he wouldn't speak with me about it since I was saying I hadn't done it and insisted he could only speak with my husband (it's a joint account). After all his garbage, I asked to speak with a supervisor. She also said that she would only speak to my husband but did confirm our credit union account had been delinked. She said since my husband was the primary owner (I always list him first on our accounts), that she wouldn't work with me unless my husband gave them permission and she also confirmed it was a joint account. At this point, I was getting really ticked. I called my husband at work on my cell and put him on the speaker and then put our home phone on speaker so the two could talk (that could've been anyone on the line). He had to get him to answer their security questions which makes sense but I'd set up the questions and answers so was hoping he'd know the answers. I'd explained that I would have the answers but she said if he personally didn't know them, then I couldn't answer them and they'd not speak with either of us. Thankfully I'd apparently made the security question one he knew! So he gave her full permission to speak with me about the account and he was off the phone. The supervisor contacted IT who said it was an internal problem and our credit union account would have to be relinked by them and it we would not be able to either send money in or out for 3-4 days until they could fix it. That didn't make me happy and they still couldn't tell me who delinked the account or why so I told her I wanted a call once it was fixed and I would be closing the account. Today my husband gets a call at home (they wouldn't talk to me and insisted he call them back so I again called him at work and he returned their call). They're saying the account is still linked and always was but that I must not be using the arrows to scroll the accounts to see the credit union listed. I told him that was great because I'm going to go in and close it. I logged in and the darned thing still wasn't linked. I am frustrated beyond belief.

 

[MichelleB]

And I agree....high yield savings is an oxymoron!!! However, it beats the .05% our credit union is giving right now.

 

[NancyIL]

Sure. You couldn't pay me enough to stay with Ally right now. We have $25,000+ with them at this moment. I add money into our accounts on a monthly basis and have for almost a year now (same computer .... you'll see why I say this in a minute). Yesterday, I logged in to put through the transfer and my credit union checking account was not showing (only the 4 sub accounts we have with Ally so no way to add or remove money from the ally accounts). I called and the cust serv rep said that it was delinked and my husband must've done it. My husband vaguely knows we have this account and has never logged into it. Our finances are my job and not something he gets concerned about unless I say something. Honestly, I'm not sure he even remembered we had the account until yesterday. Anyway, the cust serv rep said he wouldn't speak with me about it since I was saying I hadn't done it and insisted he could only speak with my husband (it's a joint account). After all his garbage, I asked to speak with a supervisor. She also said that she would only speak to my husband but did confirm our credit union account had been delinked. She said since my husband was the primary owner (I always list him first on our accounts), that she wouldn't work with me unless my husband gave them permission and she also confirmed it was a joint account. At this point, I was getting really ticked. I called my husband at work on my cell and put him on the speaker and then put our home phone on speaker so the two could talk (that could've been anyone on the line). He had to get him to answer their security questions which makes sense but I'd set up the questions and answers so was hoping he'd know the answers. I'd explained that I would have the answers but she said if he personally didn't know them, then I couldn't answer them and they'd not speak with either of us. Thankfully I'd apparently made the security question one he knew! So he gave her full permission to speak with me about the account and he was off the phone. The supervisor contacted IT who said it was an internal problem and our credit union account would have to be relinked by them and it we would not be able to either send money in or out for 3-4 days until they could fix it. That didn't make me happy and they still couldn't tell me who delinked the account or why so I told her I wanted a call once it was fixed and I would be closing the account. Today my husband gets a call at home (they wouldn't talk to me and insisted he call them back so I again called him at work and he returned their call). They're saying the account is still linked and always was but that I must not be using the arrows to scroll the accounts to see the credit union listed. I told him that was great because I'm going to go in and close it. I logged in and the darned thing still wasn't linked. I am frustrated beyond belief.

I can understand your frustration. I also hate the "We can't talk to you because you're not the primary investor/cardholder." Make sure that you ARE the primary person when you open a new account.

 

[Sadie22]

When an account has a primary owner and a secondary owner it's not a true joint account subject to the order of either. You have to read all the fine print really carefully. We ran into that with a credit union.