Best Nationally Available High APY Liquid Accounts

The big limitation on the CFG account seems to be the native ACH limits. Daily ACH pull limit of $25k/day and push limit of just $5k per day. You’d need to pull/push from a hub account with larger limits.

The other possible gotcha - they require a $1k balance to avoid a $10/month service fee. Not a big deal as long as they are a rate leader, but might be annoying if they start lagging behind and you want to put your money elsewhere. You’d have to remember to close the account instead of keeping it open with a small/no balance.

Otherwise, I agree with you, it seems like a nice account and definitely worth checking out if you want the rate. I don’t think they’re sketchy or anything like some of the fintechs.

Personally, I’ve been liking CIBC lately because they have been raising rates fairly frequently, and they also have super high ACH limits - $125k/day and $250k/month. 1.66% isn’t the highest but I expect they will push through another hike in the next few days.

3 Likes

Just saw this on DA. NASB 2.53% APY.

EDIT: possibly only available in limited areas.

2 Likes

High Rollers ONLY

This is a liquid account. But you need a hundred grand to play.

2% APY, and I know there are many Sharonview members out there!

Ally Savings increasing to 1.60% APY effective 8/5/22.

4 Likes

Want to hear peoples thoughts on buying 4-week treasuries, yield is ~2.1% and has state tax advantages. Given rates continue to rise, I don’t see the benefit of savings or no-penalty CDs right now since you can roll 4-week treasuries every month and the rates of the banks is lagging the treasury increases.

3 Likes

Already mentioned a few times in this thread, most recently only one week ago.

The 4-week T-Bill is ~2.14% now, while the best savings account is 2.53% (NASB). If you can’t get that savings account, then the 4-week T-Bill probably makes sense. IMO, the 13-week T-Bill (2.54%) is an even better bet, since the next FED meeting is 7 weeks away and the one after that is 13 weeks away and I don’t expect a whole lot of movement from the savings accounts between now and the first meeting. The 26-week T-Bill (2.93%) is even better, since I don’t think even shifting between the best savings accounts would beat it over the next 26 weeks. But this is a Savings Accounts thread. The longer-term T-Bill discussion is probably more appropriate in the CD discussion thread.

1 Like

Hve you tracked the 4-week treasury rate over time? I have not, but the slightly longer term treasuries remain around 3%, which is where they were before the last two 3/4% Fed rate hikes.

And dont overvalue the state tax benefit - even at a 10% tax rate (which only 3 states exceed), a 2.1% treasury is only equal to a ~2.3% savings account. It doesnt take much for the best savings rates to beat the treasuries.

I am biased since I live in CA, which has the highest tax rates which cap out at 13.3%.

The 2.53% yield account from NASB here does look very attractive, and up until I found this thread I was using the likes of bankrate etc to find high yields savings which are far lower than what’s listed here. Compared to those larger banks like, Ally, Marcus, CFG etc t-bond yield has been higher than their best rates since the fed started raising rates. Would be interested to see what NASB does with their rate and if they continue to track against fed rate hikes or not.

Also Scripta, thanks for the pointer on 13 week bonds, looks like there are some attractive options for October expiration on secondary market which beat NASB when considering tax implications. Although since secondary market doesn’t have autoroll, might be better to just do NASB.

The next Fed meeting is on 9/21, 47 days away. So more like 7 weeks, not 13 weeks away. The current projection is for a 50 bps hike (66% chance) or 75 bps hike (34% chance).

4 Likes

You’re right, I skipped one accidentally :smile:

I picked up 26-week T-Bills at the last auction, earning 2.9x. Today, I would prefer the 13-week duration.

CIBC up to 1.95%.

1 Like

Is there any other Checking account that comes close to SoFi Checking’s rate of 1.80% APY, with no reward checking account requirements (other than DD)?

Paramount Bank checking is 1.55% with no hoops to jump through other than $100 min opening balance. Also refunds up to 20 foreign ATM fees monthly.

https://paramountbank.com/interest-checking/

3 Likes

Thank you. Do they have ACH transfer ability to/from other banks, with high limits?

No idea; don’t have the account. If you call and find out, please report back!

Recent updates:

Valley Direct Savings was 1.25% now 2.10%
Patriot Bank Money Market was 1.65% now 2.05%
Prime Alliance Personal Savings was 1.55% now 2.05%
Personal Capital was 1.40% now 2.02%
First Foundation Online Savings was 1.65% now 2.02%
CIBC Online Savings was 1.66% now 1.95%
IGO Money Market was 1.50% now 1.85%
Live Oak Personal Savings was 1.40% now 1.75%
Ally Online Savings was 1.40% now 1.60%
Capital One 360 Savings was 1.30% now 1.50%
Bank7 Online Savings was 0.90% now 1.50%
Colorado FSB Savings was 1.00% now 1.45%
American Express High Yield Savings was 1.25% now 1.40%
Dollar Savings Direct Savings was 1.00% now 1.40%
My Savings Direct Savings was 0.75% now 1.00%

10 Likes

Heads up that SFGI may no longer allow external ACH withdrawal. They called me to verify my withdrawal of <$100 (down to $1), saying that it’s their policy which will be enforced going forward.

CFG now up to 2.55%

5 Likes

You mean SFGI-initiated ACH push to external accounts, right? Cause it sounds like they’re blocking externally-initiated ACH pulls…