r/HighYieldSavings

Apparently, my parents (75) have 150k in WF savings accounts, literally getting .1%

That's right.1 not 1%. I had no idea about this.

He doesn't want to put it in high div stocks like jepi. I explained that is what i have done for mine. So i have to find HYSA. I found a few with 10k max at 6% but nothing above 4.5% without any max limit.

Hello, I’m just wondering on a good hysa. I have Amex right now but I know there are better options but I really don’t know what to do. I tried to do a Robinhood account but it showed me some investing stuff. I just want a good high rate on a hysa account and nothing else. Are there any good options for me? I’m active duty also.

I hear stuff about Marcus and capital one im rlly lost.

Curious what others thing of this app if they use it.

I’ve been searching a trustworthy savings account bank with high yield to put my money in and apparently Marcus is a really good one but I see other people talking about capital one or ally or Axis.

What’s yall opinion and which one yall recommend me to use?

Hi everyone, I am sitting at around 10k that I would like to put in a high yield savings account. I am unsure if this is the best idea for me which is why I am posting. I am in a gifted position in terms of the job I have, I plan on buying a new truck whenever my current vehicle starts nickel and diming me. With this being said I have roughly 10k that is just sitting in a regular savings account doing nothing and it will continue to grow through my paychecks. I am looking for a way to just “park” my savings and keep adding to it while having the money easily accessible for when my current car “goes”.

With this being said ive seen plenty of people talk about transferring a lump-some of money into a HYSA and getting monthly interest paid out to them. Is this really how it works? Is an online bank like SoFi or Ally thats FDIC insured actually trustworthy or is it better to get a lower rate at a bank like Capitol One that has physical branches.

What is the customer support like with these online banks? Should I be worried about a scam/shady business?

Can opening an account affect your credit?
What kind of minimums/fees could I expect from an HYSA?

Side note: I already have savings in a money market but I would like to open something like a HYSA so that I could withdraw the money on somewhat short notice without taking a large penalty or risking withdrawal at a low point.

Any input or feedback is greatly appreciated, thank you!

looking to open a checking account I've previously used Huntington and pnc and have had problems with them. I'm wanting to have a have online access, no fees or overdraft fees, just wanting something similar. just a safe bank that keeps my money safe and still able to use it for everyday spendings and also has a savings account. was considering capital one as i already have a credit card threw them but just wanting options. also maybe pros and cons would be helpful as well .thank you.

I currently have money sitting in a local bank which I’ll keep for my checking account, but would like to move most my money to a high yield savings account for when I leave. Any body have recommendations? I found some high apy ones that sound good, but I’ve heard that’s not all you would want. I need some advice. Thank you! I’ll be moving about 5000 originally.

Here are some I was looking at.

Bread Savings 3.95% APY
$100 minimum to open
&0 minimum to earn APY
$0 monthly fee

EverBank Performance Savings 3.90% APY
$0 minimum to open
$0 minimum to earn APY
$0 monthly fee
Main catch, Advertised rate says it’s for new accounts and I don’t know if it stays that way.

Western Alliance High-Yield Savings Premier 3.80% APY
$500 minimum to open
$0.01 minimum to earn APY
$0 monthly fee
Main catch, Transfers can take longer

Openbank High Yield Savings 3.80% APY
$500 minimum to open
$500 minimum to earn APY
$0 monthly fee
Main catch, $500 opening requirement

CIT Platinum Savings 3.75% APY
$100 minimum to open
$5,000 minimum to earn 3.75% APY
$0 monthly fee
Main catch, Balances under $5,000 get very low apy

1. I have a debit account with a bank that I never use since I only use credit cards. Should I close the account?

2. My other bank has my savings in a checking account doing nothing, and they do not offer a HYSA. Should I completely transfer the money to an online HYSA with someone like AMEX and close that account as well, or should I find a local branch where I live to do it with? The local banks with HYSAs do not offer the high APY like the big online banks.

3. I have a Roth online with Fidelity, but I have not utilized it at since I have no idea what to invest in.

My current bank just added another fee and I'm really done with it now. I mostly just want something checking and savings accounts good interest on the savings and an app that doesn't crash every time I try to deposit a check. I don't need branches since I basically never go in person anyway.

I looked into a like Ally and Chime but honestly haven't chosen one yet.

Has anyone been happy with theirs, for a year or more?

Fintech companies? Yay or nay vs HYSA. Curious what others opinions are about these products?

My wife and I are looking to put some savings into a HYSA account or a fidelity MMF. Not sure what’s the better option? We want access in case we need it for emergencies but don’t want to invest it into retirement accounts. Our bank does not offer a HYSA. We don’t want to invest into a CD. What’s the better option or if anyone has suggestions to offer?

30F. Want to start a HYSA for emergency funds. Been reading and comparing so many options. Happen Bank seems to stand out because of the 4.00 APY with 250$ savings monthly. Which I can do.

But I haven't been able to find a lot of reviews or experiences of customers of Happen Bank HYSA in terms of customer service and transfers and procedures.

Looking for guidance. Thank you.

i'm looking into creating my first high yields savings account and am wondering what would be best. so far, i am looking into ally but was wondering if anyone has any recommendations for a college student working part time

I’m trying to switch from Openbank to somewhere with a better rate but it seems like every account with a rate higher than 4% is only that high for an intro promo period that lasts 3 months or 6 months after which it goes down to 3-3.5%. Would also be nice if it isn’t a hassle to use. My rate at Openbank is 3.8% so any suggestions for an account with a rate 4% or higher? TIA!

18 years old bouta start college need recommendations for what HYSA accounts to use. I bring in about 400 dollars a week on avg

I’m starting college and expect to have around $5,000-$6,000 in cash initially. After ~$2,400 in upfront expenses, I’ll have around $2,600-$3,600 left.

I’ll receive around $1,500-$2,000 per month from my dad. After rent, gas, insurance and other essentials, I estimate I’ll have around $600-$1,000 per month available for savings, while keeping some money available for non essentials

I also plan to work part time so if I do get a job, my available amount I can save per month will go up

I want to open a HYSA and gradually build the balance throughout freshman year. I’m looking for a bank with a good ongoing APY, FDIC insurance, no monthly fees, and easy transfers to checking.

I would prefer in order is:

1. A good rate

2. Ease of transferring money to and from

3. Sign up offers

4. Reputation and trustworthiness

Which HYSA would you recommend for my situation? Are there any banks I should avoid?

I have gone to the same bank since I was 17 (Bank of America), and after going through a scam that resulted in me having a negative balance back in November (-249 dollars), I’m considering changing banks after this issue is resolved. I’m 24, with no previous financial issues, no credit history, only have a debit card, and have limited job and money experience. Any recommendations for a strong HYSA with a good APY for someone in my situation to open after I clean up my negative balance and maybe change banks?