Anyone have a high interest savings account?

[Ryoukoe]

Not sure if this has been said yet…but PayPal has a savings account and is currently offering 3.5%

 

[shimalkharia]

Well, suppose you are planning to invest your money in something that will give you more profits in the future, in my opinion. In that case, investing in real estate or even cryptocurrency is better since today is a good moment to buy crypto.

 

[DLgal]

Not sure if this has been said yet…but PayPal has a savings account and is currently offering 3.5%

Yikes. Be careful with that. PayPal is notorious for being hacked. Is that FDIC insured?

 

[DLgal]

Well, suppose you are planning to invest your money in something that will give you more profits in the future, in my opinion. In that case, investing in real estate or even cryptocurrency is better since today is a good moment to buy crypto.

Crypto is a scam.

Real estate is about the worst investment right now also.

 

[Ryoukoe]

Yikes. Be careful with that. PayPal is notorious for being hacked. Is that FDIC insured?

Yes, it is backed by synchrony bank

 

[_19disnA]

Someone who has just joined and suggesting you 'invest' in crypto is offering dubious advice. Crypto is probably the LAST place I would suggest anyone put their money. Crypto is a type of 'currency' but typically tends to cleverly confuse the difference between investments & currency.

 

[LiDa]

Looking to open a savings account with high interest, I have looked online but I do not recognize any of the banks listed with high interest rates. Anyone have this type of account? Can you share which one and your experience? THanks

I have a high-interest account with Vio. So far, so good. It's not perfect, but it's good for hiding money from myself for a planned purchase.

 

[rnorwo1]

Have you looked at local credit unions? Mine has 5.5% interest on checking accounts. I have to use my debit card 15 times per month to earn it, so I use it for very small purchases so I can still use my reward credit cards for bigger purchases. There is a cap, and I do need to move my savings that exceeds that cap to something else. That’s going to be a goal of mine next week! It’s also risky to have savings in a checking account, so don’t do that if it’s an issue for you. We sometimes dip into it simply because we aren’t paying attention, but it’ll correct the following month.

 

[bjscheel]

So I opened two new Capital One Performance Savings a few days ago and transferred my regular 360 accounts into them for the higher interest. Then went through and added DH as a joint owner on the new ones. Went back in yesterday to transfer the end of month interest payments out and see that all of my accounts say I cannot withdraw funds at this time and to call a number. Wondering if anybody else had this happen maybe because I had so much activity at once. I found a reddit where this happened but there wasn't any resolution posted. So I'm curious if I do have to call or if it is just a temporary hold. Anybody else seen this?

 

[ruadisneyfan2]

So I opened two new Capital One Performance Savings a few days ago and transferred my regular 360 accounts into them for the higher interest. Then went through and added DH as a joint owner on the new ones. Went back in yesterday to transfer the end of month interest payments out and see that all of my accounts say I cannot withdraw funds at this time and to call a number. Wondering if anybody else had this happen maybe because I had so much activity at once. I found a reddit where this happened but there wasn't any resolution posted. So I'm curious if I do have to call or if it is just a temporary hold. Anybody else seen this?

I have found them to be very tight with security. A flurry of activity where existing accounts are being emptied into new accounts sets off red flags.
In the past, when this happened to us we had to call and not only give the usual identifiers but also those questions you sometimes see involving your past credit.
Something like:
We see you have a mortgage that was created in 2013. What bank is this with?
A. Wells Fargo
B. Chase
C. PNC
D. None of these

 

[disneychrista]

So I opened two new Capital One Performance Savings a few days ago and transferred my regular 360 accounts into them for the higher interest. Then went through and added DH as a joint owner on the new ones. Went back in yesterday to transfer the end of month interest payments out and see that all of my accounts say I cannot withdraw funds at this time and to call a number. Wondering if anybody else had this happen maybe because I had so much activity at once. I found a reddit where this happened but there wasn't any resolution posted. So I'm curious if I do have to call or if it is just a temporary hold. Anybody else seen this?

When I did this I didn’t have any issues. It was about 2 weeks between the opening and moving money to the new account and then transferring the interest to the new account and closing. I transferred about 5 different accounts to the one new one.

Did you leave the old accounts open after you opened the new ones?

 

[bjscheel]

When I did this I didn’t have any issues. It was about 2 weeks between the opening and moving money to the new account and then transferring the interest to the new account and closing. I transferred about 5 different accounts to the one new one.

Did you leave the old accounts open after you opened the new ones?

Yes they are open still, and have received a little bit of interest. I was going to clear that out when I saw they were locked. I just called and the lady couldn't see any notes of why I was restricted so told me to call again tomorrow. I did these things 12/29 so with the holiday she thought she might not have info yet. I'll give it a couple more days.

 

[disneychrista]

Yes they are open still, and have received a little bit of interest. I was going to clear that out when I saw they were locked. I just called and the lady couldn't see any notes of why I was restricted so told me to call again tomorrow. I did these things 12/29 so with the holiday she thought she might not have info yet. I'll give it a couple more days.

Transfers do seem to take a few days to process. I would give it to the end of the week and try again.

 

[rangerxenos]

Capital One is currently 3.3%

 

[princesscinderella]

E-trade just went up to 3.5%

 

[barkley]

I have also been looking for a high-interest savings account because I wanted to have passive income from my savings.

are you going to need the principal easily and quickly accessible? if not and you can let it sit for 12-19 months there are cds available that are paying 4.59. if you want to receive the interest you can arrange for it to direct deposit to your checking or you can maximize the earnings and let it compound.

 

[Traveling on cc points]

Currently have our emergency fund with capital one 360 savings @ 3.75% but I just received an email from Amex that are currently at 3.9%. Probably not worth switching yet but the rates are going up.

 

[georgina]

My Marcus by Goldman Sachs savings is up to 4.15%, Vanguard Federal Money Market (not FDIC insured) is up to 5%

 

[lsutigers03]

I have multiple savings accounts with Wealthfront earning 4.55%.

 

[ruadisneyfan2]

My Marcus by Goldman Sachs savings is up to 4.15%, Vanguard Federal Money Market (not FDIC insured) is up to 5%

By chance, do you know how the Vanguard was running last year?