Looking for a "high yield" savings account.

[unknown]

Got any recommendations?


My bank, Wells Fucko, is paying shit, as usual, because they are shit.

I did the standard search, came up with the following articles and websites:


https://www.businessinsider.com/per...h-yield-savings-accounts-rates-right-now?op=1

https://www.bankrate.com/banking/savings/rates/

https://www.nerdwallet.com/best/banking/high-yield-online-savings-accounts

https://www.cnbc.com/select/best-high-yield-savings-accounts/


Theres a good amount of redundancy, many of the same names are mentioned.

First off, the "banks" with the highest yields, never heard of em so kinda scared to throw money their way.


Started to look into some of the offers by the more recognized names and most of those are a hustle.

By that I mean, you have to set up a direct deposit and youre only earning the high interest rates on your direct deposit balance...


I also noticed that some of the banks/offers were "powered by Raisin".

WTF is Raisin?

Did a search, found this site:

https://www.raisin.com/en-us/savings-accounts


Lots of unknown banks, but I did recognize this name: Ocean First (which was also mentioned by one of the sites above).

Through Raisin, theyre offering a rate of 5.17%

But when I go to their site directly... https://oceanfirst.com/rates/savings-cds-rates/

The highest rate I could find was fuckin .03%, WTF

With the exception of their CDs which are paying 5.13% for a 6 month promo.

So I dont know WTF is going on.

 

[oyarde]

i got junk email from credit karma and american express this week offering 4 to 4.1 percent , i get four from my life ins co and they set the rate ea jan and i expect it to go up new years . my life ins account that they refer to as cash accumulation instead of savings came with my policy , ive had it maybe 27 yrs or so. cant remember the name but it is in iowa , i havnt shopped around but have heard rumors of 5 but havnt see it offered . i dont keep much money in it . for the past 23 yrs gold has outperformed what i'd get from them. gold was 282 in jan of 2000 , 1985 last night ,95 bucks away from a new all time high that will probably happen between now and oct.

 

[Anti Federalist]

https://www.ufbdirect.com/savingsac...&ranSiteID=4e4NFxuugkU-LiKqDgTU.NjYVJksHpSoJw

UFB bank, a branch of Axos, is offering 5 percent on all savings, with no monthly fees or activity limits.

The reason you never have heard of many of these banks is because they are online only cousins of already established banks.

There's no building with tellers and a vault and actual people in it.

Just a roomful of network servers somewhere.

I've used them before, never had an issue.

 

[unknown]

https://www.ufbdirect.com/savingsac...&ranSiteID=4e4NFxuugkU-LiKqDgTU.NjYVJksHpSoJw

UFB bank, a branch of Axos, is offering 5 percent on all savings, with no monthly fees or activity limits.

The reason you never have heard of many of these banks is because they are online only cousins of already established banks.

There's no building with tellers and a vault and actual people in it.

Just a roomful of network servers somewhere.

I've used them before, never had an issue.

I do see Axos all over the fine print.

I have heard of Axos, I think.

https://www.ufbdirect.com/Open-an-Account

Bank products and services are offered by Axos Bank®. All deposit accounts through Axos Bank brands are FDIC insured through Axos Bank. All deposit accounts of the same ownership and/or vesting held at Axos Bank are combined and insured under the same FDIC Certificate 35546. All deposit accounts through Axos Bank brands are not separately insured by the FDIC from other deposit accounts held with the same ownership and/or vesting at Axos Bank. For more information read our FDIC Notice.

 

[unknown]

WTF is this about, Capital One, their rates go DOWN the longer the term...

https://www.capitalone.com/bank/cds/online-cds/

 

[dannno]

WTF is this about, Capital One, their rates go DOWN the longer the term...

https://www.capitalone.com/bank/cds/online-cds/

That is called an inverted yield curve, sign of a coming significant economic downturn.

 

[unknown]

That is called an inverted yield curve, sign of a coming significant economic downturn.

Right, so they're expecting rates to drop in the coming years...

But the market likes that.

 

[Anti Federalist]

Right, so they're expecting rates to drop in the coming years...

But the market likes that.

Wall street loves when Main street crashes.

Means less places investor's money can go, other than into Wall street.

 

[Brian4Liberty]

Got any recommendations?


My bank, Wells Fucko, is paying shit, as usual, because they are shit.

I did the standard search, came up with the following articles and websites:


https://www.businessinsider.com/per...h-yield-savings-accounts-rates-right-now?op=1

https://www.bankrate.com/banking/savings/rates/

https://www.nerdwallet.com/best/banking/high-yield-online-savings-accounts

https://www.cnbc.com/select/best-high-yield-savings-accounts/


Theres a good amount of redundancy, many of the same names are mentioned.

First off, the "banks" with the highest yields, never heard of em so kinda scared to throw money their way.


Started to look into some of the offers by the more recognized names and most of those are a hustle.

By that I mean, you have to set up a direct deposit and youre only earning the high interest rates on your direct deposit balance...


I also noticed that some of the banks/offers were "powered by Raisin".

WTF is Raisin?

Did a search, found this site:

https://www.raisin.com/en-us/savings-accounts


Lots of unknown banks, but I did recognize this name: Ocean First (which was also mentioned by one of the sites above).

Through Raisin, theyre offering a rate of 5.17%

But when I go to their site directly... https://oceanfirst.com/rates/savings-cds-rates/

The highest rate I could find was fuckin .03%, WTF

With the exception of their CDs which are paying 5.13% for a 6 month promo.

So I dont know WTF is going on.

What do you need the account for? Check writing? Credit card? ATM card? Easy access? Long term savings?

Use caution with some of those online only banks. People have problems with customer service on those sometimes.

And beware money market accounts. Even if FDIC insured, they are essentially investments that can lose money if they “bust the buck”. The exception is money markets that invest only in short term Treasuries. That’s direct government debt.

6 month T-bills are paying over 5% right now.