r/HYSA

Hi everyone, I recently opened a Marcus HYSA account and I’m a little nervous about transferring a large amount right away. Has anyone experienced a hold, freeze, or account restriction after opening a new HYSA account and then transferring funds from another bank within the first few days? Would you recommend waiting several days or even a few weeks before making a large transfer into a newly opened account? I’d really appreciate any advice or personal experiences. Thanks in advance!

So it seems like every other month I’m getting an email that my interest rate is lowering. It’s now 3.10% I quick search tells me it’s due to government interest rate but it started at 3.50🤔, now down to 3.10 granted I know it’s slow growth but it’s what I’m comfortable with right now. Is this happening to other major financial institutions? I may switch to somewhere else.

23M just graduated college and trying to start saving. I live in illinois and will be making between 80k-90k starting in june.

what’s more advantageous, an HYSA or a T-bill etf? And is there anything missing that I should consider?

I’m 5-10 years out from retirement, so trying to build my cash pile/buffer to protect portfolio in down years.

I recently implemented a 3-tier cash strategy.

Any thoughts/recommendations/feedback?

• ⁠Tier 1 - Fidelity CMA in SPAXX at about 3.3% (functions like a checking account).
• ⁠Tier 2 - HYSA at OpenBank earning 4.0%. Funds (up to $5,000 daily EFT limit) available in 24 hours.
• ⁠Tier 3 - Fidelity CMA invested in cash-like high-dividend positions - 20% each of SGOV, CSHI, SCHD, GPIQ, and GPIX. Currently returning about 6.04%. Dividends on all these positions are somehow tax-advantaged. No state tax on SGOV or CSHI, qualified dividends on SCHD, and mostly tax-deferred ROC on GPIQ and GPIX.

If interest rates drop I may shift more cash further up the tiers to earn more interest unless I need the cash soon for a specific reason.

Do you split funds into different accounts? Currently with Marcus and have had great experience so far but considering to open a new account elsewhere for the funds above limit.

I want to focus hardcore on saving and building wealth but it’s hard to find information online regarding HYSA and investments.

As well all hurry to find the highest rate and best bonus offers I question how much cash I should keep on hand.

I think $5,000 makes sense but was curious to hear what you all think and do.

Love the page 🙏🏻

Currently have a promo offer Account with Marcus, PiBank is new and there’s a $15 incoming wire fee when you take funds out so keep that in mind but the 4.4% is nice and I have a local Credit Union giving me 6% on $20,000 as long as I do 1 ACH in and 15 debit transaction which I just buy my weekly lotto tickets using the debit card lol 😂

I'm new to financial stuff and am hoping to move my money somewhere it will actually earn instead of just sitting around earning close to nothing at 0.01% APY with USAA (not joking).

I don't need anything fancy, or even the highest rate, I just want my money to be somewhere safe and practical while earning more than a couple cents. I was going to go with SoFi as I was interested in the ecosystem it provided (checking, savings, and credit card all in the same place, etc.), though while I was reading through the savings account agreements and terms of service I sought some extra insight on some things I was reading and ended up turned off by the amount of posts about account closures for home or vehicle purchases being marked as fraudulent (which I am saving for), and people's complaints about the nice but ultimately unhelpful customer service. I was also worried about putting all of my eggs in one basket, especially if that basket had some obvious holes in it.

That being said, I've been looking at Forbright Bank and have not seen too much info on other's experiences with it. I am really interested in the fact that they are partnered with the national park foundation, and am just interested in increasing the amount I make passively and spreading out where my money is than in maximizing the amount I'm making back.

I am currently on F1 STEM OPT (non-resident alien) and am looking for bank options to open an HYSA. I plan to relocate back to India once I finish my STEM and hence am looking for banks that I can open an HYSA in right now and maintain the account even after moving outside the US.

I talked with Capital One and Amex's customer care a few times. Some say that just having an SSN and a US address on file should be sufficient to maintain and operate the HYSA internationally. However, some said that non-resident aliens cannot open an HYSA with Capital One or Amex.

• Capital One: Their FAQ says that "You must be a United States citizen or lawful permanent resident with a U.S. physical address located in one of the 50 United States or Washington, D.C., or with military addresses (APO or FPO).".
• Amex: I couldn't find anything concrete on their website.

Any suggestions on bank/institutions that will let me open a HYSA now and maintain and operate it once I move outside the US?

I do plan on keeping my US phone number active and can provide a trusted friends' address if it is at all needed.

Edit: I already have an HYSA with Marcus and they don't support transactions from outside the US. Hence I'm looking for banks that will let me operate the account while being outside the US. I plan to keep a US checking account active, so transactions will be domestic (but just being done from outside the US). If there are no good options, how does the idea of moving the money to money market funds sound?

Any thoughts on this? 3.65% seems not bad.