Any recommendations for online savings accounts? Have been using ING>Capital One, which was awesome 10 years ago, but the 1.00% seems pretty bad these days.

Was thinking of Amex at 1.9% (have a CC with them). I am a little weary of companies I've never heard of...but perhaps some TA recommendations can change my mind? I plan to always keep around mid 5 figures in this account, so most minimums shouldn't be an issue.

Basically looking for a good APR, good website/interface, reasonably quick online transfer with my Chase checking account. Don't need any sort of check/atm access to it. Prefer a company that won't spam me to death to join the 1500 other services they offer.

Thanks!

I have accounts at discover and cap one with 1.9 with a 10k min. No complaints.

I also have the Capital One money market account. It's super easy to access and transfer money. I hardly ever get emails from them (and what I do get isn't spam).

We use Barclays. 1.9%.

I have Marcus & AmEx both; no issues. I also have money at Reed CU in Houston, Shell ECU in Klein, FSCU in Klein and HFCU in Sugarland.

SoupNazi2001 said:

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CIT is 2.15%

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PurePoint as well. Someone on the board commented that they didn't qualify for a PP account. Unsure why.

Spaceship said:

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Marcus by Goldman Sachs is 1.95% right now and I've been pleased with it.

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This. Marcus is typically the first institution to up their rates.

I switched my money out of ING direct into AMEX personal savings years ago before CapitalOne took ING over. I didn't realize that CapitalOne is lagging that far behind the going rate for personal savings accounts. I've been a happy customer with AMEX for years. They're not the first to up their rate but they do keep up with the pack. No issues with money transfers into my other banks and no minimums keeps me satisfied.

monarch said:

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I have Marcus & AmEx both; no issues. I also have money at Reed CU in Houston, Shell ECU in Klein, FSCU in Klein and HFCU in Sugarland.

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6 cash accounts?

fourth deck said:

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I switched my money out of ING direct into AMEX personal savings years ago before CapitalOne took ING over. I didn't realize that CapitalOne is lagging that far behind the going rate for personal savings accounts. I've been a happy customer with AMEX for years. They're not the first to up their rate but they do keep up with the pack. No issues with money transfers into my other banks and no minimums keeps me satisfied.

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CapOne money market is at 1.85%; AMEX is at 1.9%. According to Bankrate, though, there are quite a few options at 2%+ (although, I don't recognize most of the names). You do have to deposit $10k to get that 1.85% rate, though, and it's in a (FDIC insured) money market account that limits the number of monthly transactions. The CapOne regular savings is only 1%.

I've been with CapOne for a while, and they have steadily been increasing their rates in 0.05% increments over the past few months. I would expect them to bump it up again soon - it's clear to me they want to be competitive.

They also have a 12 month CD at 2.5% with a $0 minimum balance. That's up from 2.3% just a couple of months ago (when I opened mine).

Amex 1.9 for me. Bank transfers usually take 2-3 days and UI is just fine.

Relevant thread:
https://texags.com/forums/57/topics/2961279

Another Amex user. Pleased

Spaceship said:

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Marcus by Goldman Sachs is 1.95% right now and I've been pleased with it.

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Agreed. I've been with them since it was GE Capital. They seem to raise their rates quicker than anyone else.

T Durden said:

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monarch said:

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I have Marcus & AmEx both; no issues. I also have money at Reed CU in Houston, Shell ECU in Klein, FSCU in Klein and HFCU in Sugarland.

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6 cash accounts?

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Seeing as four of those six are credit unions, it's probably a requirement for credit to have treasury within the CU.

Yep, CIT at 2.15%. Have to make a deposit every statement cycle.

Actually, 90% of my overall cash position is in the four credit unions, with differing amounts in each one. HFC as mentioned. HFCU is the only credit union that I have other financial dealings with other than a savings account.

CIT plays games. Only way to get best rate is continually changing to their different accounts. One month their high yield savings is highest, the next it's money market and so on.

Case in point their High Yield Savings remains at 1.55 which at one point back in December last year or Janiary was among highest in idustry.

I use Marcus now after learning that lesson.

As mentioned, Marcus by Goldman Sachs is very good, and doesn't play games.

Sallie Mae's rate on a money market is now 2.10% (2.12% APY), which is even better than Marcus. Plus, that account permits paper checks for those folks who prefer such things.

When I see advertised rates at local banking institutions and the fine print states: 'New Accounts Only', I can't help but think how incensed that must make their current MM/Savings customers, who are making .000000001% on their money.

Commercial banking is a different animal from the days in the '60s when good customers got a smoked turkey and a bottle of fine whiskey personally delivered by an officer of the bank around Christmas. Banks would go out of their way to keep good customers. Now, it seems like they really couldn't care less.

Can somebody tell me about T-bills? 1 month to 6 month Tbills are paying 2.2 to 2.5%. Has anyone ever done this as a savings account? I assume all these big banks are taking your savings deposits and buying tbills and making a few tenths of a percent. Maybe cut out the middle man.

https://www.treasurydirect.gov/instit/annceresult/annceresult.htm

Cap One MMA is at 1.85%, and as mentioned, they've been steadily increasing it throughout the past few months.

I expected it to climb to the 1.9-2.0 range in the next month or two.

And no fees or minimums to speak of. (I think there may be a $10k minimum to get the best rate, but that's it.)

Marcus up to 2.05%

PNC has been at 2.2% for a while.

Another vote for Barclays. Mine is currently 2.05% and I feel like they are pretty good about raising rates quickly. Started with them back in 2013 at ~0.9% when that was a good rate.

YouBet said:

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Remember the good ol' days of 5% online savings accounts? I remember.

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Heck, I remember the good old days of 8%. That was how my parents helped with my college. The monthly interest on a CD was put in my checking account and that was my rent, food, utilities, etc. for the month.

Now, to buy a house had a 13% loan So that wasn't good.

GS Marcus is at 2.05%. Seems like it moves every couple of weeks these days (as i'm sure most do)

Jack Boyett said:

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Can somebody tell me about T-bills? 1 month to 6 month Tbills are paying 2.2 to 2.5%. Has anyone ever done this as a savings account? I assume all these big banks are taking your savings deposits and buying tbills and making a few tenths of a percent. Maybe cut out the middle man.

https://www.treasurydirect.gov/instit/annceresult/annceresult.htm

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Your online brokerage firm will probably have access to the treasury rates for T Bills for free. I don't pay fees on buying/selling T bills unless I sell before they fully vest.

Good way to get 2ish percent.

MavsAg said:

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No one for Ally? I found out about them on here and get 1.9%. Just moved over, but pleased thus far.

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I just put money over there a few weeks ago to take advantage of their 1% cash reward if deposit $$ there for just a couple months plus get the 1.9%. Hell of a deal (expired now though).

My discover is at 1.9 apy. Moved up from 1.75 when I started it a few months ago. Not sure when it moved up though.

I have and love Ally, took advantage of the 1% transfer bonus too. I also have Marcus just because they're consistently paying the highest rate.

State Farm Bank has a Money Market Savings at 2.10% APY with qualified consumer checking.

PNC has always had the highest savings rate for the past year.

They are now at 2.35%.

https://www.pnc.com/en/personal-banking/banking/savings.html?lnksrc=topnav


I also used them for my mortgage.