6 Best High Yield Savings Account in 2024 (in no particular order) ➡ AMEX Savings: vincentchan.co/savings-amex ➡ UFB Direct Savings: vincentchan.co/savings-ufb ➡ Marcus Savings: vincentchan.co/savings-marcus ➡ Ally Bank Savings: vincentchan.co/savings-ally ➡ SoFi Savings: vincentchan.co/savings-sofi ➡ Laurel Road Savings: vincentchan.co/savings-laurelroad
How do you feel about Vanguard's cash plus account? Offers 4.6% on cash, but the benefit is you can buy their money market mutual funds (VMFXX/VUSXX) which also offers 5.28-5.29% APY
Thanks! just subscribed I'm 47 and learning about financial literacy now! My wonderful parents were to busy surviving and making sure we had food on the table and they never knew a thing about money. I want to change that with my kiddos. Thank you.
CIT Bank is what I use. 5% on balance of 5k minimum. No fees, FDIC insured, customer service in my experience with them is fine contrary to what some have said. They are just the online branch of First Citizens Bank. They use to give like 5.6% but they have since lowered it to 5% which is still very good. Been with them for years and never had a problem.
Do I need to put a consistent amount every month? Or do I put an amount whenever I want. Can I take out any time? I know there's a fee that comes with that and will it affect the return?
@@bleeperdoot4982 You need to keep a balance of 5k minimum to get the 5%. If the balance drops below 5k you don't get 5%. You can transfer money in or out whenever and there are no fees.
Recently bought some recommended stocks and now they are just penny stocks. There seems to be more negative portfolios in the last 3rd half of 2023 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?
Just ''buy the dip'' man. In the long term it will payoff. High interest rates usually mean lower stock prices, however investors should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder
The truth is that this is really not as difficult as many people presume it to be. It requires a certain level of diligence, no doubt, which is something ordinary investors lack, and so a financial advisor often comes in very handy. My friend just pulled in more than $84k last month alone from his investment with his advisor. That is how people are able to make such huge profits in the market
“DIANA CASTEEL LYNCH” is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
The problem with high yield savings accounts is that they can change the interest rate when ever they choose. And with the fed lowering the interest rate now the savings account yields will also be coming down. A better deal would be to lock in a CD rate.
It was just a few months ago that my wife and I went with Ally due their features and solid review ratings. After watching your video, however, I'm now wondering if UFB is the better option? We've been happy with Ally so far, but that extra 1% sounds appealing. I just don't know enough about UFB and I'm a bit unsure if it's really worth the switch process. Thoughts anyone?
Hey Vin! I was under the impression you need to have a min of 5000 deposited in to your account in SoFi to be eligible for the 4.60%? Did I read it wrong?
For the UFB bank it really isnt worth upgrading to the 5.45% rate if you break the math down. If you transfer 10k over to their checking which id assume 0% or close to it. youre losing money and essentially only getting .10% on that 10k when you could just keep it all in the 5.25% rate or up it to the 5.35%
Yeah I wouldn't go through the hassle of getting that extra 0.20% but the great thing is UFB direct offers 5.25% right off the bat. That's what I've been personally using
thanks for sharing! the down side is CIT bank platinum saving has a minimum amount before you can take advantage of the rate. the examples I shared have no minimum requirements
I just got a CD with ally 4.60% and the interest accrues daily I plan to use the interest each quarter to pay a bill or two plus I have a money market with them
You should also talk about the potential pitfalls of using a smaller bank too. Higher likelihood of bank failure, e.g. SVB. Yes, there is FDIC insurance BUT your funds are probably inliquid until that process runs it course (and who knows how long).
Hello Vincent, thank you for the valuable information. I attempted to open the high yield UFB account but it seems I have to wait until it get approval. Do you recall how long that process takes?
@@VincentChan I do, actually I use my brokerage also for my liquidity and it gives me 4%. It's almost the highest amount you can get in Europe. In the US it's higher
This is because inflation is high for the most part but this also has to do with competition in the market doing the same thing making high yield savings. In order to combat inflation they increased interest rates but if they reduce the interest rates you’ll see lower interest rates for bank accounts as well but your money will not be losing its value as fast so it’s not much of a difference when talking about high yield accounts but like he said it’s better to get the higher rate then deal with these banks that give you less then a percentage.
Hello! I loved this video! I'm curious if it is normal, when opening a hysa, to give that bank total access to your funding bank? It seems risky. I believe I was asked if I wanted to link the accounts or to transfer money. Either way, I think I gave them access to my other account. Is it required? Or do you advise one over the other (linking or transferring)?
I will never ever understand requiring you to make debit transactions. That's not saving. You would think that banks want you to keep money in the bank.
UFB savings - How many times per cycle are we allowed to transfer $$$ out of account? I typically use my savings as a “holding account” for my monthly bills
I clicked the link for UFB and it took me to the My Bank Tracker link. And I clicked on the sponsored ad for Laurel Road. I didn't see anything on the page anywhere for UFB. If you have some kind of benefit for signing people up for UFB, then do don't this, because I can't tell how to continue to UFB from the link in the description. I'm just going to search for it online and join. I would've preferred to credit you properly for recruiting a new customer for UFB!
I use them and they're my favorite. I continually extend my 5.5% APY boost and their mobile app is super easy to use, looks great, and the debit card is a huge plus.
I love Wealthfront, I did a lot of research and couldn’t decide between Wealthfront and Marcus but went for Wealthfront and I loved it. I ended up opening a Marcus account weeks after that but I still prefer Wealthfront
@@kehtonhultquist5075 the downside to a t-bill is your funds are locked up for that amount of time meaning you cannot access it until time is up. HYSA is typically a better option if you need liquid cash.
Hey! Im a 19 y/o trying to set my first savings account. I already have an amex gold credit card and the amex savings seams interesting. But i also the Ally and its savings features are great. Any recomendation for someone that makes $4500/5000 a month with some extra cash left over?
For UFB, from "step 3" in your processes to receive more %, if maintained 10K in the savings account, does that mean I am going to be receiving 5.35% APY?
Thoughts on Synchrony HYSA? 4.75% APY, no minimum balance or deposit, and no monthly fees. FDIC insured up to $250K. Just have to wait a few days for transfers.
Thanks for the video Vincent! So good that cash can sit in these accounts and make a 5+% yield for us! Also good to buy T-Bills too 😊 so we don’t pay Fed tax on the gains
Does BofA charge you to transfer money into your Goldman Sachs account? For instance, my job sends a direct deposit into my checking account. Would there be a fee to transfer it to my HYSA?
Discover / Capital one HYSAs are fine but their interest rate is on the lower side compared to the ones I talked about in this video. Generally, what I'm looking for is either: 1/ HYSA with slightly lower interest rate but more features or 2/ HYSA with higher interest rate but less features. Capital one and discover HYSAs both have slightly lower interest rates AND less features which is why I didn't include them
Capitalone went from 4.35% to 4.25% few months ago,I like Capitalone but even Im going to transfer Savings to another Bank in a few months.UFB and Laurel Road looks very interesting
Hey Vincent, what are your thoughts on ONE ? They offer 5% APY when you set up direct deposit, cash back at select businesses, access to hundreds of in network ATMs with zero fees and also offer the round up option as well. Any thoughts?
Flagstar Bank has a high yield savings account with a 5.55% rate, but you need $25k to start. CIT Bank has a HYSA with a 5% rate with a minimum account balance of $5k.
because t-bills require you to lock up your money for the set durations (e.g. 6 months, 1 year, 2 years etcs.) HYSA is where you should hold your savings that you need to be liquid / have access to
You have a one month option! You don’t have to hold for 6 months! Really lame you say 7 mo and up. You love k in that 5.35% rate for 30 days! A bank savings acct floats. You don’t tell them that did you.
@@sadiegirl5312 Again, HYSA is where you hold savings that you need to be liquid. A t-bill 1 month option is still a 1 month lock up period. If you have a financial emergency and you need your cash in the next day or two, a T-bill is NOT a good option.
@VincentChan I think right now just what our banks offer. But we plan to move them to your recommendations. I don't think we decided on exactly which ones, but I'll update you
I wouldn't sign up for AmEx savings. Easy to open and deposit. Difficult to withdraw. They make you jump throw extra hoops to prove identification. Took 3 weeks to withdraw. For SoFi, I heard you have to set up a checking account and direct deposit to get the higher rate in the savings account. Also, not all direct deposits get counted as direct deposit.
I have about $50,000 lying in my checking account for more than a year doing/earning nothing. It's actually my emergency fund plus I recently cashed out some of my I series Bond recently. However I am very scared to buy CD or open up saving accounts online in an unknown bank name or brand which I haven't heard of. My question is How do I verify these banks if they are legit?
Watch customer reviews on TH-cam find out if there’s any hidden downsides to the account, and see if it’s easy to put and remove money from your account, I use the capital one 360 performance savings account, it offers a 4.25% annual yield. I can tell you it’s very good and easy to use, I’ve had it for a year now, no complaints.
Hey Vincent! I’m trying to find a good HYSA to park $2000 for an emergency fund. I just graduated college and I wanna have an emergency fund that I can access quickly and use in sticky situations (flat tire, medical emergency, last minute stuff that happens). Do you recommend UFB for me to start with?
6 Best High Yield Savings Account in 2024 (in no particular order)
➡ AMEX Savings: vincentchan.co/savings-amex
➡ UFB Direct Savings: vincentchan.co/savings-ufb
➡ Marcus Savings: vincentchan.co/savings-marcus
➡ Ally Bank Savings: vincentchan.co/savings-ally
➡ SoFi Savings: vincentchan.co/savings-sofi
➡ Laurel Road Savings: vincentchan.co/savings-laurelroad
How do you feel about Vanguard's cash plus account? Offers 4.6% on cash, but the benefit is you can buy their money market mutual funds (VMFXX/VUSXX) which also offers 5.28-5.29% APY
Thanks! just subscribed I'm 47 and learning about financial literacy now! My wonderful parents were to busy surviving and making sure we had food on the table and they never knew a thing about money. I want to change that with my kiddos. Thank you.
I feel you best of luck!
I’m on the same boat. I wish this was taught in schools. Kids would be better equipped for life.
CIT Bank is what I use. 5% on balance of 5k minimum. No fees, FDIC insured, customer service in my experience with them is fine contrary to what some have said. They are just the online branch of First Citizens Bank. They use to give like 5.6% but they have since lowered it to 5% which is still very good. Been with them for years and never had a problem.
Do I need to put a consistent amount every month? Or do I put an amount whenever I want.
Can I take out any time? I know there's a fee that comes with that and will it affect the return?
@@bleeperdoot4982 You need to keep a balance of 5k minimum to get the 5%. If the balance drops below 5k you don't get 5%. You can transfer money in or out whenever and there are no fees.
same. loving CIT so far
@@bleeperdoot4982no fees and you can put as much or less as you want. i am loving CIT
me too. Cit Bank Is who I'm with. Great online APY
Thank you. I think I finally understand hysa. Only took me 31 yrs.
Everbank/TIAA is 5.16% (no fees, no strings)
Recently bought some recommended stocks and now they are just penny stocks. There seems to be more negative portfolios in the last 3rd half of 2023 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?
Just ''buy the dip'' man. In the long term it will payoff. High interest rates usually mean lower stock prices, however investors should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder
The truth is that this is really not as difficult as many people presume it to be. It requires a certain level of diligence, no doubt, which is something ordinary investors lack, and so a financial advisor often comes in very handy. My friend just pulled in more than $84k last month alone from his investment with his advisor. That is how people are able to make such huge profits in the market
nice! once you hit a big milestone, the next comes easier.. who is your advisor please, if you don't mind me asking?
“DIANA CASTEEL LYNCH” is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Investments are the roots of financial security; the deeper they grow, the stronger your future will be."
The deeper your investment roots, the stronger your financial security will be in the future.
Exactly! With my adviser, I’ve cultivated deep investment roots, strengthening my financial security for the future.
I would love an introduction to an adviser who can help me strengthen my financial roots.
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further.
Thank you for this amazing tip. I just looked the name up and wrote her.
The problem with high yield savings accounts is that they can change the interest rate when ever they choose. And with the fed lowering the interest rate now the savings account yields will also be coming down. A better deal would be to lock in a CD rate.
any top pics for CD's
I love Capital One and Discover HY Savings😊
Capital One compounds monthly while Discover compounds daily
Yes me too!
I have Marcus and I love it! No complaints!
How long have you been with them?
I have Marcus too. I've been with them for years now. I noticed when rates drop Marcus will lower slower than the other competitors.
@@VincentChan Since November of 2023.
@@minhchu15 Can you deposit checks into our Marcus HYSA? Like over your phone? Never mind, just found out that you cant.
@@VincentChanis that an issue? 😢
What do you recommend for a high yield for an LLC (business) account?
It was just a few months ago that my wife and I went with Ally due their features and solid review ratings. After watching your video, however, I'm now wondering if UFB is the better option? We've been happy with Ally so far, but that extra 1% sounds appealing. I just don't know enough about UFB and I'm a bit unsure if it's really worth the switch process. Thoughts anyone?
Is the interest paid every month in ally? Or is it annually? Sorry I’m also thinking of opening up an account with ally as well.
Yes, it's paid monthly.
Hey Vin! I was under the impression you need to have a min of 5000 deposited in to your account in SoFi to be eligible for the 4.60%? Did I read it wrong?
How come wealthfront is not up here? It has 5.0 APY
Vanguard has a savings account with a current rate at 4.70%
Is this only sign up or phone call only?
For the UFB bank it really isnt worth upgrading to the 5.45% rate if you break the math down. If you transfer 10k over to their checking which id assume 0% or close to it. youre losing money and essentially only getting .10% on that 10k when you could just keep it all in the 5.25% rate or up it to the 5.35%
Yeah I wouldn't go through the hassle of getting that extra 0.20% but the great thing is UFB direct offers 5.25% right off the bat. That's what I've been personally using
@VincentChan, l just opened a UFB account. Now,my goal is to save $10,000 in this account. I have to keep focused....😂😂😂
@@VincentChanhow has your experiecnce been with UFB?
@@TonyaBrown51990 Congrats!! That's awesome
@@thehousingvlog7034 it's great. It's a straight forward no frills bank. Do you have one too?
I use CIT bank platinum saving account which yields 5% APY on balances $5,000 or more
thanks for sharing! the down side is CIT bank platinum saving has a minimum amount before you can take advantage of the rate. the examples I shared have no minimum requirements
@@VincentChan Another downside is that is online only bank and transfers take around 1 week for money to be available to withdraw from
I just got a CD with ally 4.60% and the interest accrues daily I plan to use the interest each quarter to pay a bill or two plus I have a money market with them
awesome great job :)
The SoFi 5000+ requirement is so annoying lol
You should also talk about the potential pitfalls of using a smaller bank too. Higher likelihood of bank failure, e.g. SVB. Yes, there is FDIC insurance BUT your funds are probably inliquid until that process runs it course (and who knows how long).
Hello Vincent, thank you for the valuable information. I attempted to open the high yield UFB account but it seems I have to wait until it get approval. Do you recall how long that process takes?
usually it happens instantly but can take a day or two. did you get approved?
looks like some of these have come down.. great video thanks
Extremely informative video! Thank you for sharing. May I also ask what kind of video camera you are using? The clarity is impeccable.
Great video, Vincent. It's crazy how much we are getting paid for cash now
Yeah!! Do you have a HYSA?
@@VincentChan I do, actually I use my brokerage also for my liquidity and it gives me 4%. It's almost the highest amount you can get in Europe. In the US it's higher
In the 90s it was pushing double digits
This is because inflation is high for the most part but this also has to do with competition in the market doing the same thing making high yield savings. In order to combat inflation they increased interest rates but if they reduce the interest rates you’ll see lower interest rates for bank accounts as well but your money will not be losing its value as fast so it’s not much of a difference when talking about high yield accounts but like he said it’s better to get the higher rate then deal with these banks that give you less then a percentage.
I recently signed up for ally. I really like their bucket feature. I was between them and laurel road, but I’m overall happy with ally.
I just left Ally - yield was way too low compared to everyone else
@@rich5164 what did you switch to?
Thank you. Do you know which bank gives a debit card with zero transaction fees internationally?
Off topic, that’s a cool looking living space.
Western Alliance is at 5.36%
Hate I missed out. It's now 5.31%.
@@MulitSeeker .4% is nothing lol
What's your opinion on Betterment Cash Reserve? What's distinguishes it from a high yield savings account?
How much dividend stock investment needed to generate $300,000.00 per year?
Hello! I loved this video! I'm curious if it is normal, when opening a hysa, to give that bank total access to your funding bank? It seems risky. I believe I was asked if I wanted to link the accounts or to transfer money. Either way, I think I gave them access to my other account. Is it required? Or do you advise one over the other (linking or transferring)?
What is your take on Synchrony high yield account?
I have it and it's been great so far
Can i open US HYSA from the philippines/japan?
Hey Vincent, can you post your link to sign up for USB Bank again please? Thanks!
I will never ever understand requiring you to make debit transactions. That's not saving. You would think that banks want you to keep money in the bank.
How is its percentage paid by daily, monthly, or yearly rate?
Forbright , your thoughts? 5.3%
Very useful information. Thanks
UFB savings - How many times per cycle are we allowed to transfer $$$ out of account? I typically use my savings as a “holding account” for my monthly bills
they don't have any limits around number of transfers :) did you open an account?
No, not yet. My Bank of America Savings has a 6 transfer limit, that’s why I asked. Thank you for helping us
Was checking out UFB but the offer linked and the page it opens say 5.15% off the bat. Probably will still go with it!
I clicked the link for UFB and it took me to the My Bank Tracker link. And I clicked on the sponsored ad for Laurel Road. I didn't see anything on the page anywhere for UFB. If you have some kind of benefit for signing people up for UFB, then do don't this, because I can't tell how to continue to UFB from the link in the description. I'm just going to search for it online and join. I would've preferred to credit you properly for recruiting a new customer for UFB!
@@TheXixi743 let me send you my link for a brokerage account?😂 Sofi is paying out for referrals for any old reason
sorry about that! need to update my website. there was an error
@@TheXixi743 Just fixed the website :) If you didn't open one up yet, I'd appreciate if you use my link. No worries if you already opened one
These savings accounts were deff picked based on their affiliate offers.
Whats wrong with SOFI?
@@plymakkayestudio1827 it's easy to get your money in, but hard to get it out.
@@plymakkayestudio1827 plenty of people have sofi and I have seen other financial gurus say it's great for any regular person especially starting out
what do you think about ally
i talked about ally in the video
the problem with Amex checking account is they do not have a bill pay service =( like BofA or Wells Fargo
Thank you. Good content.
I'm looking into Barclays now. Seems very simple and has 4.5% interest rate right now
I wish I had known about these accounts earlier. Been missing out on passive income for YEARS! 🙄 Time to make my money work for me 💰
How about Wealthfront?
True, they are offering 5.00%, right?
@@StephsHealthMatters yep! And up to 5.5% if you refer a friend or family member
I use them and they're my favorite. I continually extend my 5.5% APY boost and their mobile app is super easy to use, looks great, and the debit card is a huge plus.
I love Wealthfront, I did a lot of research and couldn’t decide between Wealthfront and Marcus but went for Wealthfront and I loved it. I ended up opening a Marcus account weeks after that but I still prefer Wealthfront
I have Wealthfront and I love it!!! Totally worth it!! 5%
Laddered t-bills if you have a decent amount of money. Or a federal money market fund if you want it more liquid, it helps avoid state/local taxes.
Are these better than HYSA?
Absolutely! Been buying tbills for 2 years, monthly. 5.25-5.40%
@@sadiegirl5312 huh ok. And they’re tax exempt??
@@kehtonhultquist5075 the downside to a t-bill is your funds are locked up for that amount of time meaning you cannot access it until time is up. HYSA is typically a better option if you need liquid cash.
Can you talk about sustainable banks that support tree growth and good moral projects
The betting tips on 4ra are top-notch. it’s like having expert advice.
Hey! Im a 19 y/o trying to set my first savings account. I already have an amex gold credit card and the amex savings seams interesting. But i also the Ally and its savings features are great. Any recomendation for someone that makes $4500/5000 a month with some extra cash left over?
recommendation in terms of HYSA? Are you looking for an alternative to ally?
@@VincentChanYou’re not getting a reply bro
For UFB, from "step 3" in your processes to receive more %, if maintained 10K in the savings account, does that mean I am going to be receiving 5.35% APY?
Vincent, there's a high yield money market with Vio Bank that offers a 5.30% interest rate.
ya Vio bank is an option too but they have funding requirements and transfer limits
Whats your take on Vanguard's high yield account?
Which one exactly
4ra connecting with cricket stars makes it feel special. like we’re part of the action.
Ufb direct is FDIC insured through axos bank. Is that a problem?
Not a problem at all
GREAT CONTENT!
BMO Alto 5.1% no minimum
You want the APY Savings that compounds daily not monthly
Thoughts on Synchrony HYSA? 4.75% APY, no minimum balance or deposit, and no monthly fees. FDIC insured up to $250K. Just have to wait a few days for transfers.
I use them as well. I havent had an issue 😊
@@thehousingvlog7034 Nice! Been going well for me too
Best video review I’ve seen. Awesome presentation!
Any with 18% interest? It's the only way to stay ahead of the Real inflation rate. 🤔
😂 yeah go back to 1980
So for SoFI you HAVE to set up Direct Deposit in order to get the 4.6%???
Si
Thanks for the video Vincent! So good that cash can sit in these accounts and make a 5+% yield for us! Also good to buy T-Bills too 😊 so we don’t pay Fed tax on the gains
So you don't pay State and local tax. You still pay Fed tax on t bills.
Does BofA charge you to transfer money into your Goldman Sachs account? For instance, my job sends a direct deposit into my checking account. Would there be a fee to transfer it to my HYSA?
I don't know the answer to this. But can't you just write yourself a check? Does Marcus Goldman allow check deposits? Like over the phone?
I noticed that you didn't mention Discover or Capital One HYSAs. Is there a reason?
Discover / Capital one HYSAs are fine but their interest rate is on the lower side compared to the ones I talked about in this video.
Generally, what I'm looking for is either: 1/ HYSA with slightly lower interest rate but more features or 2/ HYSA with higher interest rate but less features.
Capital one and discover HYSAs both have slightly lower interest rates AND less features which is why I didn't include them
Capitalone went from 4.35% to 4.25% few months ago,I like Capitalone but even Im going to transfer Savings to another Bank in a few months.UFB and Laurel Road looks very interesting
No mention of CIT bank. Many people don't know. They don't really advertise or sponsor videos. A well kept secret.
Vio Bank is 5.30%
Thanks for the video, informative, and came in handy!
Take care and keep it up
thanks! Which HYSA do you have?
Hey Vincent, what are your thoughts on ONE ? They offer 5% APY when you set up direct deposit, cash back at select businesses, access to hundreds of in network ATMs with zero fees and also offer the round up option as well. Any thoughts?
4ra's choice of Finch as ambassador just shows they play in the big leagues now, right?
Interesting! Thank you for the information and keep it up!
Thank you! Do you have a HYSA?
Can you do 529s please?
Have you ever heard of the Raisin platform? What are your thoughts on it?
I haven't, what is it?
It's a platform that offers different hysa, CD's and no penalty CD's. I have been using it since December of last year and getting 5.22% currently.
Hi Vincent, great video! What APY calculator would you suggest to calculate future projections for a HYSA?
I want to know too
Multiply the amount times .0xx
Any thoughts on Citi Bank’s 4.35% APY?
Citi’s HYSA isn’t available in all states and they have a bunch of fees tied to the account if you don’t meet certain requirements
This video gives great information for new savers. Also, most brokerages offer 5+% CDs.
thanks! do you have a HYSA?
Finch being at 4ra shows they value authentic cricket insight. Makes me respect their bets more!
I use Vio money market 5.05%
Yaar, the new IPL event on 4ra is insane! betting has never been this exciting.
Flagstar Bank has a high yield savings account with a 5.55% rate, but you need $25k to start. CIT Bank has a HYSA with a 5% rate with a minimum account balance of $5k.
Why not buy T-bill directly from the govt website?
because t-bills require you to lock up your money for the set durations (e.g. 6 months, 1 year, 2 years etcs.) HYSA is where you should hold your savings that you need to be liquid / have access to
You have a one month option! You don’t have to hold for 6 months! Really lame you say 7 mo and up. You love k in that 5.35% rate for 30 days! A bank savings acct floats. You don’t tell them that did you.
You can buy for 30 days you are NOT forced to buy 6 month and higher T bills. His response was BS.
Calm down maybe he didn’t know about the one month option. No need to be rude
@@sadiegirl5312 Again, HYSA is where you hold savings that you need to be liquid. A t-bill 1 month option is still a 1 month lock up period. If you have a financial emergency and you need your cash in the next day or two, a T-bill is NOT a good option.
This is great!!!!! In times of high inflation, I could really use this information 😅
Glad it was helpful! Which HYSA do you use?
@VincentChan I think right now just what our banks offer. But we plan to move them to your recommendations. I don't think we decided on exactly which ones, but I'll update you
@@VincentChan we moved to UFB
@@foodlover8151 Awesome!! glad to hear
vincent, as a stater which HYSA is for me ?
Bro, the new promos made 4ra betting so cool. can’t wait for tonight’s match! it’s going to be epic with all these new betting options and features.
So what’s the verdict?
I been tried UFB couple moth and I didn't like it, they didn't pay 5.25 like they said
also Capital one 360 performance savings account offers 4.25% with no fees
That compounds monthly while most others compound daily
Thanks Vincent! I was thinking of either using AMEX vs Sofi HYSA? I also need a business checking that offers HYSA too … any suggestions anybody?
I wouldn't sign up for AmEx savings. Easy to open and deposit. Difficult to withdraw. They make you jump throw extra hoops to prove identification. Took 3 weeks to withdraw. For SoFi, I heard you have to set up a checking account and direct deposit to get the higher rate in the savings account. Also, not all direct deposits get counted as direct deposit.
Sofi?
I have a good question if you ever see this, can you have more than one high yield savings account?
Yes you can
Ugh direct has too many steps to qualify for that apy I think I want to my life simple lol
UFB direct is simple for their 5.25% rate :) the extra steps are only to get the rate to 5.45% which isn’t necessary
Vio bank 5.3% no stupid hoops like UFB
Vio bank is a decent option too but they have funding requirements and transfer limits
Vio is bad. You will find out
Thank you so much for your explanation here!
If you ever get bored, could you do the same for UK savings? 😂
usa #1
PNC is 4.5
I have about $50,000 lying in my checking account for more than a year doing/earning nothing. It's actually my emergency fund plus I recently cashed out some of my I series Bond recently. However I am very scared to buy CD or open up saving accounts online in an unknown bank name or brand which I haven't heard of. My question is How do I verify these banks if they are legit?
Watch customer reviews on TH-cam find out if there’s any hidden downsides to the account, and see if it’s easy to put and remove money from your account, I use the capital one 360 performance savings account, it offers a 4.25% annual yield. I can tell you it’s very good and easy to use, I’ve had it for a year now, no complaints.
Why doesn't anyone ever bring up Wealthfront?
Fr this dude is also actively avoiding comments that mentions it, it seems lol
Hey Vincent! I’m trying to find a good HYSA to park $2000 for an emergency fund.
I just graduated college and I wanna have an emergency fund that I can access quickly and use in sticky situations (flat tire, medical emergency, last minute stuff that happens).
Do you recommend UFB for me to start with?
yeah UFB is a good start. It has the highest APY out the ones listed. Let me know if you have any questions setting it up
Don't forget Vanguard's 4.7% Cash Plus High Yield Savings Account.
Yeah it's a decent option but it has an annual fee but you could do a workaround to get rid of it
Currently using rh gold 5% on my money. $5 fee for gold. I take the interest & invest into blue chip stocks. Killing 2 birds with 1 stone.
I just joined 4ra’s fantasy league after seeing the new ad. so pumped! it’s going to be a blast playing along with the IPL matches. who else is in?
why isnt CIT on here
Unfortunately, CIT is down to 4.593. Still very good but I am starting to look for other options that still pay over 5%.
sofi and ally bank wont open any accounts to me. L
SoFi makes it so you can’t get the best APY unless you make about $80k annually :/ need money to make money
Check out UFB direct or laurel road, they have a higher APY than SoFi and don’t have those requirements