And it's the same app as their credit cards. Amex has separate apps for cards and business accounts, but I have to imagine personal accounts are the same. Amex Bank won't let you get personal + biz accounts. App simplification is worth the reduced interest rate. I also learned a long time ago that today's highest rate is not tomorrow's.
@@mikecumbo7531 FDIC insurance and US government securities are both backed by the full faith and credit of the United States government. They effectively have the same risk.
Fidelity is Great I also have them, but the rate you are referring to is not for FDIC Insurance, it is SPAXX.. The reg rate is below 3%.. If they have a great rate like Wealthfront I would be using them more to save and be insured and protected
I have been with CFG for a couple years and they have been towards the top as far as rates are concerned. Currently at 5.25% APY w/5k min deposit. I do see that coming down soon as the rates drop, but they have a track record of being very consistent.
For the past 20 years of working, I get paid every other Friday. Open sofi last year and direct deposit is there on Wednesday instead of Friday. Love sofi
@@jolanahoward with 4.3% interest rate now, that $1 interest a day from my pay check works for me to get paid 2 days ahead of time. That is $4 per month, In a long run, all will add up.
Great video.. I've watched several videos on Sofi, you're the first to make it clear on that 1.2% 😢 So, do you feel it's worth it if you don’t use the direct deposits??
Nice vid, Chase. I’ve been with SoFi for years. Sucks they just started lowering the rate. It’s got me considering putting some money into Public’s bond account at 6.9%. But it’s a brokerage that focuses on bonds so a less convenient than an HYSA. And I’m also not really a fan of chasing a couple of percentage points. It’s not really worth it unless you have large amounts just sitting in the account.
ya u right. always chasing the highest % is very inconvenient. I would say as long as you have 1 solid HYSA that is already miles better than a traditional savings account. So the difference between 4% and 5% APY doesn't matter as much.
Because all these high yield savings accounts banks are not actually trustworthy and your local credit union is. I would highly suggest you don't go with some TH-camr's recommendation because of an APY and instead look at BBB reviews. You will find all of these companies are shit and untrustworthy.
Capital One bank offers a 4.25% HYSA w/ no minimum, no fees & Zelle access. And they have brick & mortar locations in larger cities.
💯🎯🎯💯🎯🎯🎯 right!
And it's the same app as their credit cards. Amex has separate apps for cards and business accounts, but I have to imagine personal accounts are the same. Amex Bank won't let you get personal + biz accounts. App simplification is worth the reduced interest rate. I also learned a long time ago that today's highest rate is not tomorrow's.
Their cafes are pretty cool
*4.1%
And half price coffee when using Capital One debit card. 2.50 cappucino
Fidelity is superb! 4.96% APY with zero requirements or fees
Are you talking about Fidelity’s SPAXX account? If so it isn’t FDIC insured. Their FDIC insured account is less than 3%.
@@mikecumbo7531Yes. It’s still a great option nonetheless.
@@mikecumbo7531 FDIC insurance and US government securities are both backed by the full faith and credit of the United States government. They effectively have the same risk.
Fidelity is Great I also have them, but the rate you are referring to is not for FDIC Insurance, it is SPAXX.. The reg rate is below 3%.. If they have a great rate like Wealthfront I would be using them more to save and be insured and protected
I have Fidelity
Love the vaults in sofi
sadly, wealthfront was moved down to 4.50% ever since the fed update
the ebb and flow of HYSA 😢
Like most Orgnizations tho,,,
Yea I was extremely disappointed,0.50% is a huge drop,it’s definitely $49 less than what I was earning before the interest rates drop
All these Banks and Fintech Companies have no choice but to to cut it down
I have been with CFG for a couple years and they have been towards the top as far as rates are concerned. Currently at 5.25% APY w/5k min deposit. I do see that coming down soon as the rates drop, but they have a track record of being very consistent.
ya the interest rates will go up and down. but 5.25% is solid!
UFB is now down to 4.57% since the fed cut, i am currently with them.
UFB with 4.57% is great.
It really hurt to see after getting 5.25 for so long
SoFi is now at 4.2%. Great features overall but Im looking for savings growth so I will be moving my money.
To where 🤷🏾♂️
Jenius Bank, 5.25% 🎉
For the past 20 years of working, I get paid every other Friday. Open sofi last year and direct deposit is there on Wednesday instead of Friday. Love sofi
for sure! early paychecks can help 👍🏽 thank you for watching
You still have to make your money last for the same 2 weeks between Wednesdays, just like you’d have to for Fridays. It makes no difference
@@jolanahoward with 4.3% interest rate now, that $1 interest a day from my pay check works for me to get paid 2 days ahead of time. That is $4 per month, In a long run, all will add up.
PayPal has HYSA 4.30 percent
Sofi went down to 4.2 today as well
Thanks for the update,All these Fintech and Banks Interest Rates are dropping down,Capital One also dropped again to 4.00%
love my Amex savings account.. very simple to use..
Great to hear!
To low of a rate at 4.25%
Ally does require some sort of minimum balance or they’ll close Saving or Checking Account
thanks for the info
Great video.. I've watched several videos on Sofi, you're the first to make it clear on that 1.2% 😢 So, do you feel it's worth it if you don’t use the direct deposits??
thank you for watching! Correct. I wouldn't recommend SoFi if you can't set up a direct deposit with them
Nice vid, Chase. I’ve been with SoFi for years. Sucks they just started lowering the rate. It’s got me considering putting some money into Public’s bond account at 6.9%. But it’s a brokerage that focuses on bonds so a less convenient than an HYSA. And I’m also not really a fan of chasing a couple of percentage points. It’s not really worth it unless you have large amounts just sitting in the account.
ya u right. always chasing the highest % is very inconvenient. I would say as long as you have 1 solid HYSA that is already miles better than a traditional savings account. So the difference between 4% and 5% APY doesn't matter as much.
To get that $300 bonus does it have to come from direct deposit or can i put $5000 in the savings account?
it would have to be direct deposit
Thanks for the insight!
Glad it was helpful!
I noticed that u mentioned it there was a minimum balance but not if there is a maximum. Can you please clarify?
Live Oak Bank 4.40 but now I’m looking for 5.00 plus and there’s a few.
Great info man!!
Appreciate it Xavier! 🤙🏽
Are all of these FDIC insured?
yes they are!
dude you talk so fast I can't understand you. You savings bank # 4 with the no name symbol, what bank is that Well Front???
Wealthfront only 4.5
Good enough for me.
holy sofi ad smh
Marcus hysa went down to 4.2%
the tragedy of HYSA interest rates 😓
@@ChaseYokoyamaI just won $30,000 Thursday was thinking of Barclays because a coworker suggested it months before I won this money what do you think?
I get 4.5
4.5% is good
why the hell would anyone be buying CDs in 2024
Why not?
Because all these high yield savings accounts banks are not actually trustworthy and your local credit union is. I would highly suggest you don't go with some TH-camr's recommendation because of an APY and instead look at BBB reviews. You will find all of these companies are shit and untrustworthy.
To avoid the Interest Rates drop that will continue to happen by this year or next year