HYSAs?

[mom2febgirls]

Does anyone here use a High Yield Savings Account (HYSA)? I'm looking for recommendations.

Thanks

 

[firefly_ris]

I use Ally myself and have heard good things about SoFi.

 

[comicguy]

I use Capital One and like it a lot!

 

[DrJenski]

I use Wealthfront that provides 5% APR. If I refer someone, we both get APR boosted to 5.5% for 3 months. I also have an Ally account, but Wealthfront has consistently beat their rate.

 

[_19disnA]

When interest rates were low, 'high yield' sounded like an appealing way to make a return, but was paying next to nothing. Now that interest rates have risen, there are any number of places where you can get 4-5% return. I would look around online for reputable/well-established companies or even the US Treasury has a website where you can invest in various length offerings. If you are only looking for someplace to park your money for several months, there are many options.

 

[princesscinderella]

I have one through E*Trade

 

[lulu2]

Sofi has been good to us.

 

[JPKanks]

Does anyone here use a High Yield Savings Account (HYSA)? I'm looking for recommendations.

Thanks

Sofi is fine. 4.60%.

 

[Eastern]

Synchrony savings 4.75

 

[Communicore1991]

4.25% with Ally and 4.5% with Citizens Access

 

[DisneyBill]

Ally is at 4.35% currently

 

[ruadisneyfan2]

Ally is at 4.35% currently

^^ Yes! We use Ally too and this rate is effective today. I used to use Capital One 360 but couldn't stand how they would put such a long hold on any deposits to savings accounts. It was something like a whole week, IIRC.
Ally has the benefits I loved at CO360, without the unnecessarily long holds.

 

[lsutigers03]

I use Wealthfront which is at 5%.

 

[TCRAIG]

I use the Premium MM account from Fidelity (where I have my IRA) - as of today - I’m getting 5.21% 7 day yield.

 

[Starport Seven-Five]

As a longtime customer, I would stay away from Capital One. Our legacy "360 savings" accounts were paying 0.30% interest. To get a market competitive rate I had to open a "360 performance savings" and update all my links. Just a cash grab on their part to take advantage of customers that don't pay attention.

I moved the money to Ally instead because they haven't played these kind of games with customers (from my experience at least).

 

[NJMomto2]

Morgan Stanley 5%

 

[mich311e]

As a longtime customer, I would stay away from Capital One. Our legacy "360 savings" accounts were paying 0.30% interest. To get a market competitive rate I had to open a "360 performance savings" and update all my links. Just a cash grab on their part to take advantage of customers that don't pay attention.

I moved the money to Ally instead because they haven't played these kind of games with customers (from my experience at least).

Capital One does have another savings account with a higher interest rate. I just had to open one and move my money there, it's 4.3%

My credit union did the same thing. We were getting like no interest and I walked into the branch and saw they had a 4.1% interest rate, so I had to move my money to that account. They did have a 10K minimum. So it's worth checking out if your existing banks/credit unions have higher-paying options. I was about to move my credit union savings to Wealthfront, I do have an account there for 5% and have been happy with it.

 

[hethj7]

Just a heads up as a year ago I researched this and ended up opening a CIT account as they had the highest online rate. However, their app/web interface was lacking and at one point, I got locked out of my accounts. They couldn't reset my account info after multiple phone calls for over a week due to a "known system issue affecting some accounts". Essentially my money was stranded with them - as soon as I finally got back in I swept the account clean and closed it.

I moved it to the Cap One Performance 360. I agree, the "new account" feature needed sucks for existing users, but their app is super easy to use and opening the new account was easy. The hold times can be a pain, but if you aren't using the high yield account for day to day needs, it works for me.

 

[Starport Seven-Five]

Capital One does have another savings account with a higher interest rate. I just had to open one and move my money there, it's 4.3%

My credit union did the same thing. We were getting like no interest and I walked into the branch and saw they had a 4.1% savings rate, so I had to move my money to that account. They did have a 10K minimum. So it's worth checking out if your existing banks/credit unions have higher-paying options. I was about to move my credit union savings to Wealthfront, I do have an account there for 5% and have been happy with it.

I'd rather do business with companies who do not play these games. They showed who they are so why waste your time setting up a new account with them? There are others in the industry who do not feel the need to take advantage of their customers.

My Ally account is probably 10 years old at this point and it's sitting at 4.35%. Didn't have to open new accounts or do anything to get that.

 

[georgina]

I've had an Ally account (signed up for a bonus). I prefer Marcus by Goldman Sachs, current APR is 4.5%. Money moves very fast, when I request a withdrawal it is in my checking acct the next day. I use that for short term savings. My Vanguard brokerage money market is paying 5.3% currently.