Short term Tbills after the next rate increase for the win.
No Strings High Rate Savings Accounts
- Thread starter alarmguy
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Just to interject some practicality...if you're concerned about 3.5 and 3.7 and 3.2, is this theoretical or real? Sure, maybe it means $500/yr and $1.37/day, so I could see switching within 30 days to grab $40+. Believe me, if I saw $20 on the sidewalk, I'm stopping to pick it up.
But say you pay your property tax annually, if we get down to this nitty gritty, wouldn't it drive a person crazy to see when the town cashes the check? I write it out of Ally Money Market which is 3% right now. 3% may not sound that good, but it's good enough lol I'm earning that right up to when the check clears for the property tax, which is my largest expenditure out of my so-called savings, which is at ALLY. They have terrible customer service, but I don't shop around anymore...
But say you pay your property tax annually, if we get down to this nitty gritty, wouldn't it drive a person crazy to see when the town cashes the check? I write it out of Ally Money Market which is 3% right now. 3% may not sound that good, but it's good enough lol I'm earning that right up to when the check clears for the property tax, which is my largest expenditure out of my so-called savings, which is at ALLY. They have terrible customer service, but I don't shop around anymore...
I think I agree with what you are saying but not sure *LOL*
1. Anyway yes to the first part. Shuffling around some money from a 2.5% account to a 3% account by opening the 3% account they are going to pay $500 in thirty days plus the 3% interest. Not bad for doing nothing but opening an account.
2. Plus another account that is paying just over 3.5% with no extra $500 bonus but it's paying .5% more in interest. So collect the $500 bonus in 30 days from the other online bank and will transfer it to the 3.5.
Depending on the amount of deposits you have .5% is significant. But the question is, even if you dont have significant deposits, why let the banking industry keep it instead of you? Answer is, banking industry knows many people wont bother.
3. Now I you excuse me time to go searching for more online savings bank deals to open or find a higher rate to keep emptying the 2.5% bank.
- Joined
- Jul 10, 2022
- Messages
- 6,213
haha I guess I am saying one can drive themselves bonkers....on the one hand I care about $20, I care about $40, and of course $500. But how about things beyond our control? Such as when the town is going to cash a check for the property tax which is 5 figures.I think I agree with what you are saying but not sure *LOL*
1. Anyway yes to the first part. Shuffling around some money from a 2.5% account to a 3% account by opening the 3% account they are going to pay $500 in thirty days plus the 3% interest. Not bad for doing nothing but opening an account.
2. Plus another account that is paying just over 3.5% with no extra $500 bonus but it's paying .5% more in interest. So collect the $500 bonus in 30 days from the other online bank and will transfer it to the 3.5.
Depending on the amount of deposits you have .5% is significant. But the question is, even if you dont have significant deposits, why let the banking industry keep it instead of you? Answer is, banking industry knows many people wont bother.
3. Now I you excuse me time to go searching for more online savings bank deals to open or find a higher rate to keep emptying the 2.5% bank.
Do we wait for the absolute last day, and pay in person, to avoid losing to the float? If we wait to the last minute and forget or somehow fail, it's a 2% discount forfeited.
My way is to pay out of a money market, earning 3%, and I'm not worried if it's 0.005 low or 0.005 high, I just accept it. And, I even pay at least a week early to rule out the possibility of missing the payment. Believe me, they don't have an electronic means without a fee, weird...so we do in person.
Here is a pretty good website.
Latest traditional savings account rate is 3.91%
As always do multiple searches, one has to remember many of these sites make money by clicks, so there could be other worthy banks such as Bask Bank has a 3.85% saving rate not on this link.
Also be smart, once you click through, then go to the website yourself and make sure it's legit before giving out all your personal information.
Personally I like Discover with the bonus, Cit bank (not CITIBANK) for best all around no games and one other, Bask Bank looks like a true no games 3.85% the one on the list below at 3.91 is a tiered rate and even though all tiers right now are the same, it doesnt mean they will be the same tomorrow, next week or next month. I also like Alliant, lower savings rate but good checking and ATM access.
best-high-yield-savings-accounts-4770633
https://www.baskbank.com/products/i...TDB_XXXX_01_EN_XX_NATCONT#bsk_menu_dropdown_1
Also, be smart when clicking on links, know what you are clicking on and verify though you shouldn't have any trouble with mainstream site links and you wont but some people, even in here have all kind of issues and security problems with their computers. SO there is always that "one"
person.
If you are unsure of yourself, only open an account with a small amount of money and use it for a while until you are sure of everything.
Latest traditional savings account rate is 3.91%
As always do multiple searches, one has to remember many of these sites make money by clicks, so there could be other worthy banks such as Bask Bank has a 3.85% saving rate not on this link.
Also be smart, once you click through, then go to the website yourself and make sure it's legit before giving out all your personal information.
Personally I like Discover with the bonus, Cit bank (not CITIBANK) for best all around no games and one other, Bask Bank looks like a true no games 3.85% the one on the list below at 3.91 is a tiered rate and even though all tiers right now are the same, it doesnt mean they will be the same tomorrow, next week or next month. I also like Alliant, lower savings rate but good checking and ATM access.
best-high-yield-savings-accounts-4770633
https://www.baskbank.com/products/i...TDB_XXXX_01_EN_XX_NATCONT#bsk_menu_dropdown_1
Also, be smart when clicking on links, know what you are clicking on and verify though you shouldn't have any trouble with mainstream site links and you wont but some people, even in here have all kind of issues and security problems with their computers. SO there is always that "one"
person.
If you are unsure of yourself, only open an account with a small amount of money and use it for a while until you are sure of everything.
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I like that one of them is local...
AZjeff
$50 Site Donor 2023
I've been meaning to do this and opened an account with Discover today. FYI the new account bonus is $150 for $15k and $200 for $25k deposited within 30 days. Unless there's a different code out there I didn't find. Comfortable with Discover, others I've not heard of not so much.
I just did the same. I've had a Discover credit card since 1991.
They were over 9% if bought before the end of October.
As far as CD's go, my bank has a three year CD being offered. 5% first year, 3.5% 2nd year and 3.5% for the third year. Also seen an Edward Jones add with a rate of 4.2% for a six month and 4.7% for a one year CD. It's not difficult finding something better than 3.5%.
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Discover
$500 Bonus offer expires around 12/7 or 12/15/22
Code Bonus1122D was just a few days ago and ends sometime in Dec. Bonus1122E might be another.
$50,000 or greater deposit required for $500
Either way the page at the time on Discover when signing up gives you the options on all the codes.
($500 does exist, less publicized and MAY have a shorter offer period)
You can also call them I guess, USA service center and they pick up fast was my experience.
I like their banking website, very fluid and complete for your account, Also I experienced faster than other banks I deal with, ACH transfers and lower hold times.
Found another link. This link says offer expires 12/7/22 but they seem to always have offers flying around but the codes change or maybe just a different link or they extend the current . I’m sure you can always call for a code too, phone number is on the link below.
https://www.discover.com/online-banking/savings-lng-04/?TPR=010
Here is another, no bonus but among the best savings rate today with no “catch”
Website and app modern but less polished I guess because of updates as First Citizens Bank bought them this year and made Thurman a division plus merging their commercial operations into theirs or something like that.
https://www.cit.com/cit-bank/bank/savings
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AZjeff
$50 Site Donor 2023
Thanks but I don't seem to have $50k to toss around like a dog toy at the moment to get the $500. 
CIT Bank is next. thanks.
CIT Bank is next. thanks.
JTK
$100 Site Donor 2025
I haven't done the high interest online savings account thing in about 20yrs. I recall having one though something like Manhattan bank in the early 2000's that had a 5.5 or 6% rate. It kept dropping until it wasn't worth it.
I'll just stick with my local bank's nickel a month if I'm lucky. LOL
I'll just stick with my local bank's nickel a month if I'm lucky. LOL
You store $600k+ (assuming 3.5%) in a regular bank account? I like keeping 6-12 months of cash in an online account but ****! There’s probably better places for some of that. I’ve seen your bathtub tire storage and it doesn’t appear you have a real expensive lifestyle.
Thanks but I don't seem to have $50k to toss around like a dog toy at the moment to get the $500.
CIT Bank is next. thanks.
Yeah, I like CIT Bank, I have transferred more money to them and also activated a checking account.
Even more important, if you not taking Discover up on the $500 you still over the long term come out better with CIT Bank because the CIT Bank rate is MUCH higher and you will recoup whatever sign on bonus Discover offers over lets say a years time.
Still this isnt to say Discover is a bad choice, they are still way better than most big names out there.
Where it pays off for me is if you take a bank up on an offer and then, once the time period is over, collect your money and transfer to a bank with high rate.
I shuffle things around for fun, same with insurance ect. Example, I took up Wells Fargo a while ago, opened a checking account and had my wife's paycheck auto-deposted there, they paid after 3 months $350 then you can move on and cancel.
Another example would be with Discover, I think its after 30 days they pay you the $500 or $200 or whatever deal you sign up for, then you can cancel and transfer back to a higher rate account.
Much like this forum is a "hobby" for me, so is online shopping for jsut about anything, from banks, to insurance ect ect... I make my computers pay for themselves.
The strings may be invisible. One example will be how they handle transfers. Example, you request an amount to be transferred to your regular bank account. That transaction might take 2-3 business days. That is a sign they are floating your money.
Federally insured and guarantied by the government through FDIC or NCUA. I don't care for the ups and downs of the stock market or uninsured investments that might lose value which are pushed on you by financial advisors. I'm not greedy or lured by promises of higher returns.
