thanks for the plain quick explanation very informative; and i agree with your own conclusion -not worth it when you have other options (vng mm is just fine), btw i've seen on other yt channels (same topic) they go on and on.. .with minutiae of info it's a waste of time; when you can give the main points and clearly inform; thanks!
There's no advantage IMO, except for the FDIC insurance and the ability to have a routing and account number for direct deposit. I am not using this account myself.
I wanted to use this account as my emergency fund. One reason is because currently I have my emergency fund in Ally bank and its too assessable. Usually I have more disipline. But, last year I noticed I would constantly take money out of my emergency account. I like that I would need to transfer to get the money insteadof receiving an atm card. I feel like it would help with desipline. Would you suggest opeining this account as an emergency fund in my case?
It seems perfect for the situation you describe. It's there in an emergency, but not so easy to spend. No checks or ATM cards. Plus, a decent interest rate.
I decided to give this a try and use it for direct deposit and bill pay to replace chase checking. Thanks for the video.
I’m in love with that FDIC Coverage Amount
thanks for the plain quick explanation very informative; and i agree with your own conclusion -not worth it when you have other options (vng mm is just fine), btw i've seen on other yt channels (same topic) they go on and on.. .with minutiae of info it's a waste of time; when you can give the main points and clearly inform; thanks!
so if you don't move into any of the investments, it just functions as a high yield savings account? with the 4.7%
Yes
I like the FDIC aspect but would be nice to be able to write checks. Think I’ll stick with VMFXX.
Me too
What’s the advantage of this vs just buying VMFXX money market fund in a standard vanguard brokerage?
There's no advantage IMO, except for the FDIC insurance and the ability to have a routing and account number for direct deposit. I am not using this account myself.
I wanted to use this account as my emergency fund. One reason is because currently I have my emergency fund in Ally bank and its too assessable. Usually I have more disipline. But, last year I noticed I would constantly take money out of my emergency account. I like that I would need to transfer to get the money insteadof receiving an atm card. I feel like it would help with desipline.
Would you suggest opeining this account as an emergency fund in my case?
It seems perfect for the situation you describe. It's there in an emergency, but not so easy to spend. No checks or ATM cards. Plus, a decent interest rate.
Has their complaints process improved any ?
He didn't really end this video! He left us wondering with that question, should I put all my money in this account?
I get 5.5% from Cit bank with $5K+ invested
That's a great rate!
Same I got 100k in cit
@@alcoyot That's great
@@dukeofearlyretirement 😍
That's a CD
Maybe the Vanguard cash plus account could be useful as a high yield checking account?
That would be nice, but it does not come with check writing privileges or an ATM card.
Please get a new microphone. While your videos offer great content - the sound quality is of poor, hollow, quality. Thanks
Thank you for the constructive feedback. I will definitely look into upgrading my mic.
I get 5.17 - 5.30% at Vio Bank
Nice. That's a very good rate for a bank account.
Me too
Same, I use that as my emergency fund. I skim off the interest and put that into the stock market.
I get 5.50% with Wealthfront.
Vanguard is terrible.
Stay away from Vanguard and go with Fidelity instead.
Fidelity sucks
Please don't make this statement w/o explaining why go with Fidelity?
@@outdoorman7425 Shut up!