Best Nationally Available High APY Liquid Accounts

Best Nationally Available High APY Liquid Accounts
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#772

Why don’t we just like to the other Fatwallet alternative site that has moderators that actually keep the content up to date?


#773

Oh my goodness! That is huge news for me and I missed it totally. Thank you so much for posting. I really appreciate it.

ETA

Given the great service provided by PurePoint I surely did not see so large an interest rate increase coming. I especially like their “instant interest” feature and make use of it absolutely CONSTANTLY to earn extra interest.

2.35% at PurePoint is a gift horse I certainly will not be looking in the mouth!!

And you can take that to the bank!!:wink:


#774

In the wake of zzz’s post I am just off the telephone with both Northpointe and Northern Bank.

In neither instance was the representative with whom I spoke aware of any intention to raise interest rates.


#775

Great news about PurePoint!! Now I have EBSB & PP both paying 2.5%. Yahoo!!


#776

Shinobi,

I know you’ve mentioned the instant interest before but could you recap how you do it again? I’m considering opening a purepoint account and putting $50 in till my cd matures at end of month based on all the good things you and a couple others have said about it. If I remember right you use it as your hub instead of Ally?


#777

How do you have Purepoint paying 2.5 instead of 2.35?


#778

Sure, no problem. I actually am working a dual hub system at this time, using both PurePoint and Alliant.

At PurePoint, if you initiate an ACH pull before 9:00 pm eastern time on their website, the money will be credited to your PurePoint account, and begin earning interest, instantly. However, you will not be permitted to withdraw those funds for four business days. For example, if you initiate the transfer prior to 9:00 pm on a Monday, your funds will be available for withdrawal the following Friday. This assumes all intervening days (Tuesday, Wednesday, and Thursday) are business days and not holidays. Also, when counting off the four days, note that at PurePoint Saturdays and Sundays are never considered business days.

Pushing money out of your PurePoint account using ACH is straightforward. Your account balance will be debited the moment you initiate the transfer. The money will appear at its destination the next business day.

I think pattyb53 was a teensy bit wide of the mark regarding the new PurePoint interest rate, which is 2.35% APY.


#779

So I assume you make sure the money is fully available from initial bank before ever starting? I could see trying to get an extra day here and there if you knew exactly when things would clear and ally is pretty good about telling you but you always risk the funds not being available and associated fee’s which would wipe out any potential day’s interest.

Thanks…I finally signed up at EBSB since no one else has gotten where I want (interest rate wise). Purepoint is in my list now so I can move some funds earning lower while I’m still waiting to see how that Navy Fed deal falls out. Luckily already a member there.


#780

Yes. Otherwise you are flirting with an overdraw.

But double interest is easy with PurePoint. ACH withdraws initiated today, for example, will earn three days of double interest, today (Friday), tomorrow (Saturday), and Sunday. The money will not come out of the targeted account until this coming Monday. And double interest is very sweet even for just one day, no less for three.


#781

While on hold with EBSB their automated system said something like “All funds deposited at EBSB are insured through a combination of FDIC and VIF insurance.”

Anyone know what VIF insurance is? Is this similar to where Garden ensured an additional amount?


#782

Are you sure they didn’t say DIF?

https://www.difxs.com/DIF/Home.aspx


#783

Sorry famewolf, my mistake on PurePoint savings rate. In my early excitement I saw the rate wrongly as 2.5% & not 2.35%. But it is still good…

So all & all I guess EBSB 2.5% rate is still best…:wink:


#784

It could have been! Thanks! I see EBSB is a member for the DIF so amounts above 250K should also be covered? Only an issue if I want savings and a cd at some later point with EBSB.


#785

That’s too bad about Northern Bank. I was hoping they would stay competitive as rates moved upward but doesn’t look likely. May be time to close them out.


#786

Not sure if anyone here uses Investor’s Bank but they raised their money market account rate today as well - up to 2.35%


#787

HSBC Direct Savings increased from 2.05% to 2.22% this morning.


#788

deleted Should have been posted in the cd thread.


#789

Yes famewolf, but it is an add-on CD so posts are over on the CD thread. This is the liquid accounts thread.:wink:


#790

oops…sorry guys…pulled up wrong tab when posting. Will move posts.


#791

I’m posting this as a straw man proposal, not something I actively do myself or promote.

But consider that Vanguard’s settlement fund VMFXX has a compound yield of 2.33%. If one already has a brokerage account with Vanguard and wants a simple life, this isn’t such a bad place to stash cash.

Pros:

  • Vanguard does a pretty good job with ACH in or out.
  • Moving into or out of securities held at Vanguard is as convenient as it gets.
  • Bookkeeping is simplified.

Cons:

  • This is not FDIC insured and in theory a share price being $1 is not guaranteed. (However, the funds are invested in U.S. government securities, so risk is negligible).
  • VMFXX doesn’t have a stellar track record of being competitive on yield (but has lately).
  • You could make $170 more taxable income in a year on $100K if you chased the highest liquid APY in the wiki.