Poll

What bank do you use as your "High Yield" Savings Account?

Barclays
0 (0%)
Capital One
10 (28.6%)
Ally
11 (31.4%)
GE
1 (2.9%)
Citi
0 (0%)
Sallie Mae
1 (2.9%)
Investment Account/Money Market
0 (0%)
Brick and Mortar Bank
1 (2.9%)
Other
11 (31.4%)

Total Members Voted: 32

Author Topic: "High Yield" Savings Accounts used by Mustachians  (Read 2452 times)

Cincy Stache

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"High Yield" Savings Accounts used by Mustachians
« on: January 24, 2014, 10:59:08 AM »
This topic was brought up about a year ago and comes up every so often around here.  If you don't use a savings account then please disregard, but I'm looking for a place to stash my 5k emergency fund.

Things to consider: APY, Ease of use, Customer Service, Relationship w/ company etc.
« Last Edit: January 24, 2014, 11:01:42 AM by Cincy Stache »

gotaholen1

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Re: "High Yield" Savings Accounts used by Mustachians
« Reply #1 on: January 24, 2014, 11:17:22 AM »
I found nice local bank last year using: https://www.kasasa.com/saver

I get a 3% interest rate for up to 10k.  Not the best return ever, but better than nothing.

nenennc

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Re: "High Yield" Savings Accounts used by Mustachians
« Reply #2 on: January 24, 2014, 11:43:28 AM »
I've always gotten better rates with Credit Unions than Banks.  Funds are insured just like banks.  The service is generally much better also. 

Cincy Stache

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Re: "High Yield" Savings Accounts used by Mustachians
« Reply #3 on: January 24, 2014, 12:11:05 PM »
I found nice local bank last year using: https://www.kasasa.com/saver

I get a 3% interest rate for up to 10k.  Not the best return ever, but better than nothing.

Thanks, I'll explore this option as well in my search!

nordlead

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Re: "High Yield" Savings Accounts used by Mustachians
« Reply #4 on: January 24, 2014, 12:23:39 PM »
I use Ally. Customer service is fast and easy (they even say what the current phone wait time is right on their website). Easy to get money in/out (excluding cash in the account). smartphone/PC check deposit, nice website. Overall I'm very happy with them (just switched to them ~8 months ago).

I was considering ING Direct right before then, but they switched to CapitalOne 360 a few months prior and at the time it looked really sketchy as if someone bought an expired domain and threw something together trying to scam the user.

As for local credit unions, I've seen other people post ones with good rates on various websites but the best in my area that I can find is ~0.5% which is ~1/2 of what you can get online.