Any experience with Personal Capital Cash (2.35% interest)

[okisok]

When I logged in to Personal Capital, I got an ad for their savings account through UMB Bank. They pay 2.3% interest, with an extra .05% for PC account holders. The fine print says unlimited transactions. Has anyone had a savings account with them? My EF is only earning 1% right now.

[alcon835]

I'm curious about this too. I have an emergency fund that gets 1% right now. I'm considering moving it over Personal Capital Cash if that 2.3% is real and there aren't other issues with it.

[use2betrix]

I received the same pop up and was expecting to see a thread about it soon. I was surprised to see that they are FDIC insured for over a million dollars. That is far more than what is standard, isn’t it?

My AMEX savings account earns around 2.1%. Granted, my huge emergency fund (a years worth of spending) stupidly sits in my low earnings Wells Fargo account.. I don’t know why, but it’s nice having it “right” there, as opposed to the few day delay transferring money between accounts.

[Another Reader]

This is funneled through UMB Bank to various other banks.  It's really a variable rate account.  Fidelity does something similar with their cash management account but they keep most of the interest.  The 2.35 percent rate is for clients.  Non-clients get 2.30 percent as of now.  Who knows what you get next week.

High yield savings pay 2,2 to 2.3 percent.  Some lesser known banks are higher, although some of those banks are given to playing games with rates.  No funny business and you know who has your money at all times.  Short term treasuries are paying 2.27 to 2.28 percent projected for tomorrow's auction.  No state income tax on those.  Given the options, I decided to pass on the PC offer.

[merula]

Yeah, I got it too. My Capital One savings account is paying 2% on my emergency fund. I suppose I could move it but doesn't seem worth the hassle for $30/year. Plus I've been burned before by attractive initial rates that drop precipitously after a month or two. Capital One is also variable, but it's been at 2% for over a year.