[Our03z4]

Anyone know of a bank that has the best high yield savings account right now? My retired in-laws are needing to transfer their non-investment money (up to 6 figures) to a savings account and want the best rate available. We are trying to find a bank that doesn't seem questionable, lots of no name online banks out there and while I know it's insured they still don't want it possibly getting tied up.

My wife and I use M1 and are currently getting 5% even (down from 5.6%). Their transfer speed is excellent but they do charge a yearly fee and are online only.

AMEX is currently 4.35 and charge no fees, however they currently don't have any lines with them. I love their card but not sure how their banking is.

Credit unions are currently offering horrible rates from what I see.

Thanks for any ideas!

[bagekko]

My Capital One account paid 4.35% last month, everything is super easy and no fees. Some of my accounts go back to the ING Orange with them. I think Ally pays similar or slightly better. Yeah our CU MM account is only at 3.45% and thats 100k+ balance required. CD's I think are still 5% but yeah gotta lock it up for 6-12m.

[cmyx6go]

I'm getting 4.35% at Capital One and 4% at TD Bank. No fees.

[Chihuahua]

4.35 percent with Barclays, no fees.

[Pheonix]

I am getting 4.50% at Marcus Bank (by Goldman Sachs).

[Our03z4]

Thanks everyone! It looks like even with the yearly fee it would pay the most going with the people we use, M1. I'm sure they won't like that there aren't any branches but we know how M1 operates, so that should help ease their minds.

Thanks again!

[chassis]

SPAXX money market at Fidelity. North of 5%. SIPC insured to the same extent as FDIC.

[Germanauto]

5% at Wealthfront...pretty happy overall.

If you want a more established name, Amex is great. Rate isn't as good but their app is simpler.

[dreamingat30fps]

Originally Posted by Germanauto

5% at Wealthfront...pretty happy overall.

If you want a more established name, Amex is great. Rate isn't as good but their app is simpler.

I love wealthfront that's what I use also. Been happy with them since like 2016ish.

[izzyM2]

I've been with Ally since inception and they might not be the highest but they are straight up as far as banking policies go. My current monthly interest from savings alone is paying my G87's monthly.

If you click my referral code by 03/01/2024 . You could earn $125 for opening one.
https://ally.com/referral?code=7T7S9J8K4T

[ASAP]

Originally Posted by bagekko

My Capital One account paid 4.35% last month, everything is super easy and no fees. Some of my accounts go back to the ING Orange with them. I think Ally pays similar or slightly better. Yeah our CU MM account is only at 3.45% and thats 100k+ balance required. CD's I think are still 5% but yeah gotta lock it up for 6-12m.

I agree, cap one is extremely easy, pays out at month end and it's easy to wire money.

[Enabled]

Originally Posted by Germanauto

5% at Wealthfront...pretty happy overall.

If you want a more established name, Amex is great. Rate isn't as good but their app is simpler.

Wealthfront here as well. Betterment is ok too for some things.

[2000cs]

I have a small account at Marcus, which I opened because they spiffed my son for the referral. If I put more money in, or agreed to leave it for a while, the rate would be higher than 4.5%. But I’m happy with that for what it is.

OP asked best high-yield savings. To me that means yield, safety and flexibility (liquidity). So I want a strong financial institution with minimal withdrawal restrictions and a good yield - but I’m not chasing yield alone. I don’t want to be trapped in the next SVB, for example.

[BRAKE!]

Vanguard Cash Plus Account - possibly the most reputable name in index investing and offering 4.7% and FDIC insured up to $2.5 million

[iamwingman]

Originally Posted by Our03z4

Anyone know of a bank that has the best high yield savings account right now? My retired in-laws are needing to transfer their non-investment money (up to 6 figures) to a savings account and want the best rate available. We are trying to find a bank that doesn't seem questionable, lots of no name online banks out there and while I know it's insured they still don't want it possibly getting tied up.

My wife and I use M1 and are currently getting 5% even (down from 5.6%). Their transfer speed is excellent but they do charge a yearly fee and are online only.

AMEX is currently 4.35 and charge no fees, however they currently don't have any lines with them. I love their card but not sure how their banking is.

Credit unions are currently offering horrible rates from what I see.

Thanks for any ideas!

I’ve got some cash with the AMEX high yield. Decent rate, no fees, easy as heck to deal with. I’d recommend.

[NikMN]

Nigerian princess. Try it no bs and best money "your" in-laws will ever spend

[chris_1001]

Originally Posted by chassis

SPAXX money market at Fidelity. North of 5%. SIPC insured to the same extent as FDIC.

This ^^^

[3798j]

Synchrony 4.75%
An excellent online bank.
https://www.synchronybank.com/bankin...yield-savings/

[Weather Man]

Put it in BIL, pays monthly, rates unlikely to change for a while. Safe. Paying 4.99% no need to transfer money out of account.

[BMW F22]

Amex vs Capital One, which is better?

[dreamingat30fps]

Originally Posted by BMW F22

Amex vs Capital One, which is better?

Can't comment on the savings as I don't have an Amex savings, but just based on their online system I would take Capital One over Amex all day everyday. The Amex site is horseshit compared to Capital One.

[TboneS54]

5.05% from CIT bank ($10k min I think). No CD, no minimum time, just min balance.