Which savings account with a high APY do you like the best?

I use CIT

discover bank

I've used a handful of different ones over the years - ING which I think then became CapitalOne360, Ally, Amex Personal Savings, Barclays, etc....

They all tend to have similar rates and even if you get the current "highest", it may change in a few months.

I'd just find one with an interface you like that seems to be generally well received and go for it. We just opened one for my wife with Goldman Sachs Marcus and it seems fine.

I've never had any trouble with any of them, though I will say that with ING/CapitalOne360 the ease of opening a new "sub" account (which was its own account) was super easy and made it great for things like opening an account mid-year to start funneling over Christmas savings.

I'm curious about the CapitalOne 360 Money Market Account. It is 2% APY for balances over 10k. Any reason not to try that one?

That's what I have. I also have a one-year CD with them and a Venture card. Website is super easy to use. And they recently added the feature to add beneficiaries online (that was my only complaint). I've been very satisfied.

The money market account does have a limit of six transactions a month.

I have nothing but good things to say about Ally

I keep my emergency fund in a no penalty CD (currently 2.30% at >25K) and then any remaining cash in a regular 2.20% savings account.

Amex at 2.1%. No minimum balance

Ally

Maxmyintetest.com

Ally

I use CIT. 2.4% APY with >$25k or $100+/month in deposits. I also have an older account there that is around 1.55% on any balance. I'll transfer my other account there if I stop falling into the above category.

Platform is sufficient for what I need and I can easily transfer money between my WF or Local bank without fees. Money is usually inaccessible for a few days so I plan accordingly, if required. Beats the 0.03% WF gives me.

Ally is 2.2% and very easy to open multiple accounts. We have separate accounts for vacation savings, emergency fund, escrow, etc...

Have mine in Goldman Sachs Marcus account. It pays 2.25% on any balance.

I like Goldman

Marcus is great and easy to use. I recommend it to everyone i know. 2.25%

Citi has been advertising 2.49% lately.

PNC high yield savings, no minimum balance, waived ATM fees, virtual wallet does budgeting savings planning and a lot of other things as well. 2.35% and not an intro rate. Out of footprint locations only, such as Texas. Max up to $5mm.

4 week t-bills are at 2.4%, and they can be set up to automatically ladder every 4 weeks on some brokers (fidelity for one). Higher rates and backed by full faith amd credit of the federal government

https://www.treasurydirect.gov/indiv/products/prod_tbills_glance.htm

By using a staggered ladder (putting 25% of your savings in 4 week bills for 4 weeks) you are at most 4 weeks away from 100% cash for withdrawal

It's 2.7% + FDIC insured at maxmyinterest.com.

i have barclays. currentely 2.2%. don't need to do anything else.

I have Ally both Capital One 360 accounts. Keep more money with Capital One due to their interface, but I like the Ally raise your rate and no-penalty CDs, plus they offer very good rates on regular CDs pretty often.

However, I recently opened a WealthFront account (robo investor) to try with a small sum of money, and found they have a high interest cash account as well. They actually just raised rates to 2.51% today.

If you're interested in Wealthfront for the savings account, you can do whatever amount you want. But if you're also interested in them for investing you get $5000 managed for free without fees. Then I think it's a 0.25% fee or something. You can also use my referral link, and both of us will get an extra $5,000 managed for free (https://www.wealthfront.com/c/affiliates/invited/AFFD-13TY-Y9IX-F96R).

Just putting it out there since I just transferred some cash into their savings account once I saw the rate jump. I can't vouch for how fast it is to access though. I'd imagine it'll take a day or two to transfer back into a checking account.

WestTxAg16 said:

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I use CIT. 2.4% APY with >$25k or $100+/month in deposits. I also have an older account there that is around 1.55% on any balance. I'll transfer my other account there if I stop falling into the above category.

Platform is sufficient for what I need and I can easily transfer money between my WF or Local bank without fees. Money is usually inaccessible for a few days so I plan accordingly, if required. Beats the 0.03% WF gives me.

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Another CIT Bank user.
What he said about doing it. Really easy to make the bank.

do they have to be family??

Just created an Amex savings account. 2.1 APY and no fees. Seemed like a win.

Surprised no one has mentioned Synchronybank.com. 2.25%, no fees or minimums, and all the same amenities as Ally. They give you a "debit" card you can use at ATMs. Very flexible and makes it easy to get money out if you're in a jam.

Furlock Bones said:

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i have barclays. currentely 2.2%. don't need to do anything else.

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Another +1 for Barclays. Very simple user friendly interface, never had an issue with them and Ive been with them for years. Very easy to move money in and out. They have raised their rates several times since Ive been with them to keep up with the industry average, wouldn't surprise me if they raised their rates again very soon.

Highly recommend them or ally.

My favorite part of Marcus is that you can easily set up automatic transfers. For example, if you get paid every two weeks, you can have Marcus move $XXX every 2 weeks to your savings. Makes it super easy.

Is this common with the others? Ally/Synchrony?

Marcus also will offer Goldman Investment products in the future.

AggieMainland said:

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My favorite part of Marcus is that you can easily set up automatic transfers. For example, if you get paid every two weeks, you can have Marcus move $XXX every 2 weeks to your savings. Makes it super easy.

Is this common with the others? Ally/Synchrony?

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i use marcus now but used capitalone360 in the past. it worked the same way with transfers. it also had the benefit of being able to easily subdivide the account into separate bins, which was nice (ie if you have portions earmarked for things like car savings, property taxes, etc...you could divide those into separate sub-accounts for better organization). plus it had an app, which was also nice.

Thanks. Subdividing the account would be something I'd be interested in. I'll need to look into it. Probably not a big enough reason to switch but I've already though about starting a separate account elsewhere.

Anyone use Citizens Access online savings? Its listed as one of the top APY on Nerdwallet.com. =>https://www.nerdwallet.com/best/banking/high-yield-online-savings-accounts

Advantages: High APY, No fees
Disadvantages: no checking account, no mobile app

They also have good CD options.

Another vote for Discover bank. Savings account (no fee or min) is 2.1%, competitive CD rates.

AggieMainland said:

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My favorite part of Marcus is that you can easily set up automatic transfers. For example, if you get paid every two weeks, you can have Marcus move $XXX every 2 weeks to your savings. Makes it super easy.

Is this common with the others? Ally/Synchrony?

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Ally has it. It seems like most high-yield banks have the same features now, along with very similar rates.