High Yield Savings Accounts

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Moderator: Aitrus

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Bubba
Posts: 271
Joined: Thu Mar 05, 2020 3:40 am

High Yield Savings Accounts

Post by Bubba »

I know that many of you use the high yield savings account. I'm thinking of going the same route. I'm not sure yet as to the "how's and the when's" because I really enjoy the flexibility of my USAA checking account. Nonetheless, this looks very interesting. They'll be offering one of the highest rates that I've found too https://m1.com/save/high-yield-savings-accounts/.

I'm only letting you guys know, I'm not paid by them. :lol:

Best,

Bubba

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12squared
Posts: 516
Joined: Thu Dec 31, 2015 7:28 am

Re: High Yield Savings Accounts

Post by 12squared »

Bubba wrote: Tue Nov 15, 2022 4:11 am I know that many of you use the high yield savings account. I'm thinking of going the same route. I'm not sure yet as to the "how's and the when's" because I really enjoy the flexibility of my USAA checking account. Nonetheless, this looks very interesting. They'll be offering one of the highest rates that I've found too https://m1.com/save/high-yield-savings-accounts/.
The catch is that you need to have an M1 account, which costs $125/year after the trial period. To break-even would require a deposit of at least $2778.
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Aitrus
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Joined: Mon Aug 06, 2012 5:03 pm

Re: High Yield Savings Accounts

Post by Aitrus »

It sounds like a good deal, Bubba. However, from personal experience I prefer brick-and-mortar credit unions. I like knowing that if I have a problem I can physically walk in and schedule a meeting with a manager or loan officer. I've always been able to get more done to solve a difficult banking issue in person than over the phone or email. Purely online banking isn't secure - there is no such thing as "unhackable" in this world anymore.

The free coffee is nice too.
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bloobs
Posts: 1436
Joined: Tue May 21, 2019 8:00 pm

Re: High Yield Savings Accounts

Post by bloobs »

Aitrus wrote: Tue Nov 15, 2022 9:32 am ... from personal experience I prefer brick-and-mortar credit unions. I like knowing that if I have a problem I can physically walk in and schedule a meeting with a manager or loan officer. ....
Agree. There are many brick and mortar credit unions and smaller local banks that offer plain-jane no-fee checking accounts with minimum 3.75% APRs nowadays. Also, they still provide paper checks (for a small fee).

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