Best Nationally Available High APY Liquid Accounts

Best Nationally Available High APY Liquid Accounts
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#1015

pattyb53 is the expert on Grow checking. Or of course you could just telephone the credit union. I do not have a Grow checking account and I’ve no plans at this time to sign up for one. For me the direct deposit into Grow MM Promo is working amazing. This also makes savings available for six withdrawals/month, more than I ever will need, assuming I cannot withdraw directly from MM Promo. Either way, withdrawals are covered.


#1016

This post is for information only. If even one person is helped, well, that is the intent:

Post taken down because it contained bad information provided me by a Grow rep. Guess I should have spoken with more than one rep.:slightly_frowning_face:


#1017

to anyone who has done an ach transfer out of purepoint, was it out of purepoint & in the external bank same day or did you lose a day or more if interest? thx


#1018

pulled day you begin transfer and arrives in external bank the next day…


#1019

I believe it disappears from your account immediately and shows up in the other account the next day, so you lose a day of interest. Note that if you haven’t previously transferred to the same external bank, their fraud department will call you to confirm (annoying). In that case, I don’t think the money disappears until after you confirm the transfer.


#1020

badlands said Purepoint allowed 10 linked accounts… has it been changed to 3?


#1021

Nope, still ten. However:

When you delete a linked account at PurePoint online . . . it really does not go away . . . even though it appears to go away.

You must telephone them and request that they actually erase the account you thought you deleted.


#1022

Oh my goodness it just happened again!!

Earlier today, before 12:00 noon CT, I initiated at Alliant a second movement of funds via ACH to Grow. It is now just after 10:00 pm CT and those funds are already in my Grow MM Promo account, dated today and earning interest!!!

That is same day ACH service with no loss of interest. Why wire funds when ACH gets them there the same day?

I can recall, fifteen years ago give or take, when funds moved via ACH took three days to arrive. Now it’s the same day! Will wonders never cease?

ETA

Well, that was all wrong. Except it wasn’t.

Q: Huh? It was but it wasn’t?

Exactly. What I wrote above was accurate at the time and actually happened as I reported. However:

This morning I log into my account and they have changed the date of the deposit to today . . . even though the money had to have been there last evening since I saw it.

Q: What is your new bottom line?

Apparently the funds do arrive the same day, but they are ultimately credited to your Grow account as if they had arrived a day later.

Q: Problem?

Not at all. That is what I would have anticipated in the first place. Just never realized ACH money moved as fast as it appears now to be moving. Struggling to keep up with such modern banking developments.


#1023

That was a new one!! When I started reading this post I was like, “never heard of same day transfer arrivals”.

But my ACH transfers to the Grow Checking are arriving next day & I post to MM Promo that day. I’m closing out as many low paying (2-2.5%) accounts & transferring those funds to Grow as we speak.

This is turning out to be a great find… The funny thing is nothing is mentioned about this MM Promo on Grow Financial FCU site. It was such a mix up on Ken’s site & people can still get in, if they try.


#1024

I am happy you made mention of this, pattyb53. I hope other participants here take your post to heart.

I am hanging onto NBD because of the rate lock and for the sake of diversification. Ally was already gone, for me, before Grow showed up. The most noteworthy impact of Grow MM Promo, for me, is that it finally is taking out my AgFed NPCD’s. This is in process.

I do not have all eggs in the Grow basket, but still I thought it worthwhile to have a look at their rating. Wow!! Grow is A-rated, huge, and is the farthest thing from fly-by-night. So I will have no hesitation about increasing my MM Promo balance there, as circumstances dictate, over this upcoming year.

To me, thinking in general, the funds to move first to Grow are those not currently rate locked. That Grow one year rate lock is worth every bit as much as their high 2.75% APY interest rate.


#1025

Alliant has been taking same day ACH for a couple years:

“With same-day ACH, all ACH transfers sent from your originating financial institution by 1:45pm CT will post by 5:00pm the same day!”

https://www.alliantcreditunion.org/help/what-is-same-day-ach


#1026

Since a year ago all banks are required to accept same-day ACH and make it available the same day:
https://www.nacha.org/rules/same-day-ach-moving-payments-faster-phase-3

Originating same-day ACH is a different matter.


#1027

Just saw a post saying Grow MM Promo deal is dead. Did not call them myself.

What a great deal. RIP

Also am seeing indication EBSB high-rate deal for liquid funds might be dead for new, even local, customers. I did not call them. Am not an EBSB customer.

Boy, things appear to be tightening up considerably, liquid funds options narrowing. Will PurePoint be next?


#1028

You still holding onto those no penalty cd’s at 2.6%?


#1029

Yes, I am for now. Have not opened more, what with Grow and all.

Sure, Grow MM Promo is my best yielding liquid account at this time. But I will continue to spread liquid funds around a bit. Not everything will go to Grow. I can live with 2.6% APY at PurePoint or even the 2.5% APY at NBD . . . for the sake of diversification. And both of those situations offer me a rate lock. Am in process of cleaning out AgFed at only 2.4%, but it’s not a fire drill exercise . . . just slow and steady depletion.

Slowly, in the fullness of time, more and more funds will end up with Grow. But I still like the PurePoint no-penalty certificates. It would be a shame if they are discontinued. I have been with PurePoint for a while and they have my confidence, as does NBD. Grow so far is great . . . but doing business there remains very new for me.


#1030

I have kept my PurePoint opened with the minimum $10K- 2.3%, but I’m thinking of some kind of movement there. I probably should transfer that $10K over to their 2.6% No Penalty CD. (or just plainly move it to Grow MM Promo)

I’m still keeping EBSB 2.5% with a small balance. I’ve transferred most $'s to Grow. Grow is probably locking in a bunch of money in from those of us that play with CD’s. Rates not interesting right now. :wink:


#1031

Let’s not sell PurePoint short. Their liquid account pays 2.35% APY and offers “day zero” interest. It’s an excellent account.

So true. CDs are a dumpster fire right now. :cry:


#1032

I learned about this from PhatWallet:

https://www.marcus.com/us/en/savings/osa-savingsbonus

Get $100 when you deposit $10,000 or more in new funds into a new or existing Online Savings Account within 10 days of enrollment, and maintain those funds plus your current balance for 90 days. Must enroll by 3/18/19.


#1033

3c3… Problem is, Marcus Savings is only paying 2.25% & some of us are getting 2.75% at Grow FFCU MM Promo. So if we take $10K out of Grow to make the extra $100 might not make since.

We have folks here that could figure it out. $10K for 90 days @2.25% + $100 versus $10K @2.75% for 90 days…:slight_smile:


#1034

Basically ignore the money part. In 90 days you’d earn 1% @ Marcus (100 divided by 10000 *100) and you’d earn .6875% at Grow. (2.75% divided by 4)

In real money $100 vs $68.75

For me opening a new account would require more than $32.25 in additional return.