Best Nationally Available High APY Liquid Accounts

Best Nationally Available High APY Liquid Accounts
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#1096

If this does end up being the beginning of the end for EBSB 2.5%, there are currently 4 other banks paying 2.5% for those that don’t have Grow’s 2.75% deal. They are Investor’s Bank MM(no min balance requirement), Customer’s Bank HYS(25k min balance requirement), Western State Bank MM(no min balance requirement), Redneck/All America Bank(no min balance requirement but each account has a max of 50k at the 2.5% rate).


#1097

I recalled customers bank also having brought back their 2.5% MMA but when I checked the rates on their website I found:

Smart rate shoppers like you want your money in an account that pays a greater yield. Now you can save smarter with the higher-yield Ascent Money Market Savings Account. Open an account today and start earning a minimum rate of 2.25% APY guaranteed thru June 30, 2020. Minimum deposit of $25,000 required to earn the quoted APY.

so I’m not really sure if it is still available or not.


#1098

Yes, I said around $2k. So I probably hit the low mark for EBSB.


#1099

Aaah missed that; sorry!! Bet the threshold is either under 5k or under 2k then.


#1100

Here’s the link for the Customer’s Bank 2.5% account:

https://www.customersbank.com/cbsavings/


#1101

It’s “BankPurely,” not “Purely Banking”. $25K min for both. Added to QS.

I think they are related: “©2019 BankPurely®, powered by iGObanking.com®, a division of Flushing Bank®”


#1102

Is there any guaranteed time frame on the Customer’s Bank 2.5% account: ? I am not seeing any…fine print says
Annual Percentage Yield (APY) as of 4/1/2019. This is a variable rate account and the APY and interest rate may change at any time after account is opened. Minimum balance requirement to open and obtain APY on savings account is $25,000. L


#1103

No, there’s no guarantee on any of the accounts currently paying 2.5% as far as I know. If I were opening up a new one, I would probably go with Investor’s Bank since they just raised their rate from 2.4% to 2.5% 5 days ago. They held steady at 2.4% for quite some time so that makes me think they will keep the 2.5% steady for at least awhile moving forward but with none of them having guarantees, it’s really just a gamble as far as which one is the best to open. I also like that the Investor’s Bank account doesn’t have a minimum deposit to open the account and earn the interest rate.


#1104

I disagree with this . . . . . respectfully, of course.

First of all, I never went in at EBSB, though I am at Northern. This is because I place a VERY high premium on rate locks. Am a big fan. And EBSB never, to my best knowledge, offered one.

The best liquid funds deal available today, for anyone with $10,000 or more to invest and seeking an insured, liquid, account with a rate lock, is at PurePoint. It is the PurePoint NPCD paying 2.5% APY and locked for thirteen months.

CAVEAT

My own PurePoint NPCD accounts were completed several weeks ago when the PurePoint interest rate was 2.6% APY and the above rate lock terms were operative. My own principal home for liquid funds, as with pattyb53, is at Grow. However, I’m a believer in diversification, hence the decision to go with PurePoint as well.

Point is, I do not know whether, when PurePoint recently lowered their NPCD rate from 2.6% APY down to 2.5% APY, they also changed their rate lock terms. If you opt for PurePoint now you need to ascertain whether or not the original 13 month rate lock remains operative. A quick telephone call to them should do the trick.

As for me, I am standing pat at PurePoint. I have even pulled money out of Grow in preference to closing any of my PurePoint NPCD accounts. This is because, at Grow, I have the option of replacing those funds at 2.75% whereas at PurePoint, once you close an NPCD at 2.6%, that is all she wrote, you’re done, and the account cannot today be replaced at that interest rate.


#1105

Thanks @shinobi, I completely forgot about the NPCD option!!


#1106

I’m going to call EBSB on Monday. Several of you have said that you are still getting the 2.5%. I’ll check to see if my rate of 2.02% is based on removing of funds. I’d like to find out if they have a tier rate & if I add more funds they will raise the rate back to 2.5%.

I have a CD at Justice that matures today. I’ll probably put the funds into Grow 2.75%, but I’d also like to keep EBSB if they will raise my rate up with more money deposited.


#1107

For those of you that use EBSB. I just spoke to a rep about the my rate. I was told that my rate went down because I had a balance lower than $5000. I’m going to add more $$ to this account now to up my rate back to 2.5%.


#1108

Good to know, thanks @pattyb53


#1109

Don’t know why EBSB is so slow with transfers. Yesterday I transferred $$'s over to EBSB through their own site & still today the funds are not showing. At the same time I also made transfers to Alliant CU & today the money is there waiting.

This is extremely nerve-racking!! Alliant CU is so reliable, if only they would raise their interest rate.


#1110

You make it sound like EBSB is the exception. There’s only a handful of banks that handle “next day transfers” of which Ally and Alliant are the only two that come to mind off the top of my head. Most everywhere else you can expect 3 to 5 business days. Other’s like Purepoint offer “0 day interest on deposits” but may be just as slow as normal on external transfers.


#1111

I routinely use PurePoint’s facilities to ACH money, on deposit there, out to other financial institutions. I have never experienced an example of other than next day delivery. And I have at PurePoint until nine o’clock at night, ET, to schedule the outgoing transfer for next day delivery. Sweet.

Ally Bank, on the other hand, I have found to be unreliable and unpredictable when it comes to ACH performance. Yeah, I know well they have a set of rules, a maze you must navigate, and hoops you can jump through to achieve next-day ACH. Straight up:

I cannot be bothered with Ally’s BS when great ACH service is available to me straightaway at either PurePoint or at Alliant without all the asinine crapola.

Period


#1112

I’m not sure what hoops you are encountering but I scheduled a transfer today from Ally Checking to another account so I could pay taxes and it just was “1 day”…other times it’s been 3 business days but I think that was more an issue with the destination bank than Ally. In the end all that is important is that each of us find a method/place that’s comfortable.

Between taxes being much higher than I expected and finding out I’m going to have to pay 20 grand on getting the foundation of a house “repaired” (and “passive water damage” is not covered by insurance) I need interest rates to hurry up and go back up! :wink:


#1113

EBSB has an ACH initiation platform?


#1114

You’re right, there are probably many other establishments, but I was not thinking at the time.
My deposit to EBSB did show up today. I ach transferred on 4/8, received on 4/10. Money will not show available, probably 3 days from 4/10.


#1115

Investor’s Bank with all credit to AnnO:

Link to deal

Looks like a competitive deal for liquid funds except . . .

I dunno about a rate lock :slightly_frowning_face: