High Yield Savings

[CalPolyTechnique]

The APYs I’m seeing around are insane. I just moved some money into Wealthfront and am getting an introductory 5.05% APY on a checking account (goes down to 4.55% after 3 months which is still great.). No hidden fees.

If anyone is parking money in a BofA or other brick and mortar banks you’re getting robbed on their paltry money market and checking APYs.

Highly suggest exploring your options.

 

[Hardline]

The APYs I’m seeing around are insane. I just moved some money into Wealthfront and am getting an introductory 5.05% APY on a checking account (goes down to 4.55% after 3 months which is still great.). No hidden fees.

If anyone is parking money in a BofA or other brick and mortar banks you’re getting robbed on their paltry money market and checking APYs.

Highly suggest exploring your options.

Nothing on their website says that.

 

[Hardline]

https://robinhood.com/us/en/

 

[CalPolyTechnique]

Nothing on their website says that.

What does that say? Speak.

 

[Hardline]

What does that say? Speak.

That's not on their website

 

[darthseinfeld]

The APYs I’m seeing around are insane. I just moved some money into Wealthfront and am getting an introductory 5.05% APY on a checking account (goes down to 4.55% after 3 months which is still great.). No hidden fees.

If anyone is parking money in a BofA or other brick and mortar banks you’re getting robbed on their paltry money market and checking APYs.

Highly suggest exploring your options.

Thanks for the heads up!

 

[CalPolyTechnique]

That's not on their website

Google Wealthfront 5.05%

If you can’t find it then you don’t deserve it.

 

[T-RO]

I don't think this forum should be a place where investment recommendations are made.

Banks are getting shuttered right and left.

 

[CalPolyTechnique]

I don't think this forum should be a place where investment recommendations are made.

Banks are getting shuttered right and left.

You’re being dramatic.

Banks are not being shuttered left and right. You had a few large banks that went down. Unless you had over $250K in one spot you were protected by FDIC. Even then, those banks did not fail due to offering high yield savings.

The intent of the thread is not to endorse one specific bank, but rather look into opportunities for your money to make money.

 

[T-RO]

This isn't a place for specific financial advice.

-Hey buy Stock X
-This is a killer new crypto
-Wanna hear about real estate opportunity?

No. No. No.

Ask Tom Brady, after his $45 million loss with FTX. This stuff doesn't belong here.

 

[dsturgeon]

You’re being dramatic.

Banks are not being shuttered left and right. You had a few large banks that went down. Unless you had over $250K in one spot you were protected by FDIC. Even then, those banks did not fail due to offering high yield savings.

The intent of the thread is not to endorse one specific bank, but rather look into opportunities for your money to make money.

they are a bunch of banks that should have gone under, and are being propped up or bought out by larger banks

 

[CalPolyTechnique]

This isn't a place for specific financial advice.

-Hey buy Stock X
-This is a killer new crypto
-Wanna hear about real estate opportunity?

No. No. No.

Ask Tom Brady, after his $45 million loss with FTX. This stuff doesn't belong here.

That’s a perfect response.

You just clearly demonstrated that you don’t understand the fundamental difference between a FDIC insured high yield savings account versus an investment in stock equities or cryptocurrency.

My post is for those that understand.

 

[CalPolyTechnique]

they are a bunch of banks that should have gone under, and are being propped up or bought out by larger banks

Which ones went under because of offering high APY on their savings accounts?

I’ll wait…

What you’re arguing is literally like saying we shouldn’t be allowed to talk about football because a Bills player almost died on the field last year.

A complete non sequitur.

 

[big dog cowboy]

Banks are getting shuttered right and left.

3 banks total this year.

Today is the 141st day of the year.

 

[dsturgeon]

Which ones went under because of offering high APY on their savings accounts?

I’ll wait…

What you’re arguing is literally like saying we shouldn’t be allowed to talk about football because a Bills player almost died on the field last year.

A complete non sequitur.

I actually do not care about your thread topic, I responded to a posting in your thread. I am one who does not mind thread topics forking off. If you want a 10 response thread, there is the report button that will allow you to remove my postings.

The bank of international settlements and its known or estimated debts(some say quadrillions) in derivatives is the one that I find interesting

 

[EenonyMoose]

A handful of Texas regional banks are doing up to 6% right now: https://www.doctorofcredit.com/high-interest-savings-to-get

 

[CalPolyTechnique]

3 banks total this year.

Today is the 141st day of the year.

The U.S. alone has more than 4,500 banks; more than any other place in the world.

 

[Creeper]

Yes, big banks are offering diddly-squat on money market and other savings accounts. I bought some Series I savings bonds the last few years and the interest I am getting on a few bonds is outpacing the money I have in the bank by a lot. I am considering investing more, maybe some T-Bonds too where rates are closer to the rate of inflation. The banks are robbing us. I just wish government bonds were tax free since we are lending the money to the government. They pay us back with interest but then take the interest back as taxes! But the main point is valid, putting cash in banks accounts it slowly burning away your wealth.

 

[CyberB0b]

https://robinhood.com/us/en/

Yeah, I use this with RH gold. Getting 4.65 rn

 

[CalPolyTechnique]

I think there’s a lot of grown adults that don’t realize if you’re parking your money in a money market savings account longterm from one of the major banks that’s only giving like a .30% APY, you’re losing money.

The average rate of inflation in a healthy economy is 2-3%.