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Joined: Feb 2004
Posts: 10,094 Likes: 1
Campfire Outfitter
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OP
Campfire Outfitter
Joined: Feb 2004
Posts: 10,094 Likes: 1 |
Any recommendations to look at or stay away from? Not interested in anything Citi as I've been going in circles for days trying to get a transfer out of them that keeps getting blocked. Finally called today and closed it.
And yes, account, not fund. Not looking to hit it big, just looking to get a bit more "free" money than the measly tenth of a percent at my CU. But at the same time want it to be as liquid as making an online transfer out of it when needed. There will be initial seed money and then monthly deposits of money set aside to cover bills that come due once or twice a year.
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Joined: Oct 2021
Posts: 10,802 Likes: 2
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2021
Posts: 10,802 Likes: 2 |
The rates are pretty low for MM accounts. My CU is offering 1.28 which ain’t a lot.
If you have a Brokerage account maybe look into 90 T Bills or something similar.
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Joined: Jun 2008
Posts: 18,497
Campfire Ranger
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Campfire Ranger
Joined: Jun 2008
Posts: 18,497 |
You can find bank CD’s that are currently bringing 5% APY on time periods ranging from 4 months to 6 months.
Every day on this side of the ground is a win.
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Joined: Feb 2004
Posts: 10,094 Likes: 1
Campfire Outfitter
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OP
Campfire Outfitter
Joined: Feb 2004
Posts: 10,094 Likes: 1 |
I'm seeing money market accounts and high-yield savings in the 4.5-5% APY range. But not familiar with the banks. For example... https://redneck.bank/accounts/mega-money-market
Last edited by Whttail_in_MT; 07/27/23.
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Joined: Jan 2002
Posts: 12,857 Likes: 5
Campfire Outfitter
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Campfire Outfitter
Joined: Jan 2002
Posts: 12,857 Likes: 5 |
The online banks are forcing the brick-and-mortar banks to step up their game to keep deposits from fleeing. As long as it's FDIC insured, an on-line only bank is just fine. Many are offering 5% or thereabouts on a high-yield savings account.
Sic Semper Tyrannis
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Joined: Dec 2005
Posts: 3,172
Campfire Tracker
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Campfire Tracker
Joined: Dec 2005
Posts: 3,172 |
VMRXX through Vanguard will get you close to 5% and no risk. Hard to beat.
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Joined: Feb 2013
Posts: 6,457
Campfire Tracker
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Campfire Tracker
Joined: Feb 2013
Posts: 6,457 |
I got 5.5% APY on a 10 month cd today. 25k minimum. FDIC insured.
Last edited by Terryk; 07/28/23.
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Joined: Jan 2004
Posts: 11,388
Campfire Outfitter
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Campfire Outfitter
Joined: Jan 2004
Posts: 11,388 |
US Bank has 4.25-4.5% on money market accounts with over $25k. Transfers from check/atm/app at anytime.
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Joined: Aug 2017
Posts: 9,073 Likes: 1
Campfire Outfitter
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Campfire Outfitter
Joined: Aug 2017
Posts: 9,073 Likes: 1 |
A bunch of online banks are in the 5% range.
I've laddered into some ultra short term bonds that are also approaching 5%. 90 days.
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Joined: Nov 2004
Posts: 10,022 Likes: 3
Campfire Outfitter
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Campfire Outfitter
Joined: Nov 2004
Posts: 10,022 Likes: 3 |
My PNC online savings is 4.5%. Maybe a bit higher now.
Bb
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Joined: Apr 2021
Posts: 136
Campfire Member
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Campfire Member
Joined: Apr 2021
Posts: 136 |
Fidelity, SPAXX, is paying 4.76% as of yesterday
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Joined: Feb 2010
Posts: 16,077
Campfire Ranger
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Campfire Ranger
Joined: Feb 2010
Posts: 16,077 |
Redneck Bank? Amusing name! I'd never heard of it.
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Joined: Aug 2006
Posts: 12,580
Campfire Outfitter
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Campfire Outfitter
Joined: Aug 2006
Posts: 12,580 |
It doesn't suck having your accessible emergency cash actually making some money.
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Joined: Jul 2009
Posts: 5,183
Campfire Tracker
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Campfire Tracker
Joined: Jul 2009
Posts: 5,183 |
The online banks are forcing the brick-and-mortar banks to step up their game to keep deposits from fleeing. As long as it's FDIC insured, an on-line only bank is just fine. Many are offering 5% or thereabouts on a high-yield savings account. When Charles Schwab notified me that my money market money was in a bank in Hong Kong I with withdrew all of it (it also wasn't insured by the FDIC). It normally takes 2 business days to get a check mailed from my money market account but it took 2 weeks this time.
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Joined: Aug 2005
Posts: 10,759
Campfire Outfitter
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Campfire Outfitter
Joined: Aug 2005
Posts: 10,759 |
Making 5.01% on my checking account currently. 5 month CD's at 5.12%. Limited to 20K in checking but CD's can go much higher. Where I'm parking my money for a while.
A true sportsman counts his achievements in proportion to the effort involved and fairness of the sport. - S. Pope
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Joined: Feb 2003
Posts: 15,551
Campfire Ranger
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Campfire Ranger
Joined: Feb 2003
Posts: 15,551 |
Huntington is offering a 5% MM account with a min 25k deposit for 6 months.
"I Birn Quhil I Se" MacLeod of Lewis I Burn While I See Hold Fast MacLeod of Harris
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Joined: Sep 2012
Posts: 1,711 Likes: 2
Campfire Regular
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Campfire Regular
Joined: Sep 2012
Posts: 1,711 Likes: 2 |
Some banks are paying 4.7% on regular savings
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Joined: Feb 2007
Posts: 1,002
Campfire Regular
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Campfire Regular
Joined: Feb 2007
Posts: 1,002 |
Lots of rates being quoted here. No one saying if they are APR or APY. Find out what you are getting before you invest is all I’m saying.
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Joined: Jun 2008
Posts: 18,497
Campfire Ranger
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Campfire Ranger
Joined: Jun 2008
Posts: 18,497 |
Lots of rates being quoted here. No one saying if they are APR or APY. Find out what you are getting before you invest is all I’m saying. You can find bank CD’s that are currently bringing 5% APY on time periods ranging from 4 months to 6 months.
Every day on this side of the ground is a win.
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