Best Nationally Available High APY Liquid Accounts

Best Nationally Available High APY Liquid Accounts

OK. Guess not. Hope it might be helpful if I report my little data point:

In the wake of the Grow warning about delays if I initiated a transfer there, I did it the old fashioned way. I initiated the transfer at Alliant, ready to swallow the loss of one day’s interest. That was yesterday.

Was happily surprised this morning, upon checking my Grow MM Promo account, to discover the money from Alliant had been credited the same day I initiated the transfer at Alliant. Hence: no loss of interest! :smile:

Hey, you cannot beat that with a big stick!

Q: Shin, couple of questions. First, was it a lot of money?

Naaa. It was only slightly less than two grand.

Q: OK. And did you direct the funds straightaway into you Grow MM Promo account, or did those funds upon arrival at Grow land in your savings?

The funds were sent, they were directed, straightaway into my Grow MM Promo account. I actually think this worked to my benefit in avoidance of lost interest.

Q: So finally you’re claiming, in essence, same day ACH? You’re saying both the Alliant withdrawal date and the Grom MM Promo deposit date are the same?

Yup. That’s what I’m seeing this morning. Today is May third. Both transactions, at both financial institutions, are clearly dated May second. And they both are depicted as completed . . . as of this moment. Unless Grow changes the date on me, this is a sweet outcome.:grinning:

Yes, shinobi, you were able to move straight to Grow MM Promo.
I wouldn’t be surprised if you are the only one able to move funds that way. I inquired, but was told, “not possible”.

So you see, it makes a huge difference, dependent on the Rep who helps you out when you first open your acct. My agent told me to open a checking acct & ACH funds there. Then move those funds over to the Promo MM account. It takes 1-2 days through Alliant CU.

Call Grow and request to speak with Julio, who is one of their reps. Julio knows ACH. He is the man and he will fix you up. Good luck!!

Oh, sorry. Of course what you need to ask Julio is for him to provide you your “Grow MM Promo account number for ACH purposes”. That is the phrase to use. Once you have that account number you will do your trial deposits and then you will be good to go.


While I have direct deposited funds INTO my Grow MM Promo account via ACH, I have never done a direct ACH withdrawal from that account.

Q: So Shin, are you saying direct withdrawal from Grow MM Promo is not possible?

I am saying I do not know. If you try it and it fails, please do not blame me.

NBD (Northern) is extending their rate lock, formerly good only until end of June, to the end of 2019.

@shinobi Where did you get this info from? I didn’t get an email like I did last time they extended.

Somebody over on Ken’s site posted it. That poster had telephoned the bank. Email is anticipated to go out shortly. We shall see.

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Just a brief heads up for all of you PurePoint OSA mugglers out there. You people know who you are. :wink:

Tomorrow is one of those days!!

Yes indeed tomorrow, Friday 24 May, is the Friday before a three-day holiday. So:

If you have any money lying around and collecting interest elsewhere, money available to be moved to your PurePoint OSA, tomorrow is the day to initiate the ACH transfer at the PurePoint website. You will collect thereby four days of double interest.

Remember: Timing . . . . . . . . . . . is everything. :smile:


@shinobi thanks for the heads up and reminder!

Got the email this morning. Here’s the text from the email with the pertinent info:

*Effective July 1, 2019, the interest rate and annual percentage yield (APY) on your Northern Bank Direct Money Market account will change. The tiers are changing as follows and the blended APY will no longer apply. You will earn the stated APY on your total account balance of the tier that your account balance aligns with.

  • Average daily balances less than $250,000.00 will earn an interest rate of 2.47% and APY of 2.50%.
  • Average daily balances $250,000.00 up to $999,999.99 will earn an interest rate of 1.24% and APY of 1.25%
  • Average daily balances $1,000,000.00 and above will earn an interest rate of 0.25% and APY of .25%

After December 31, 2019, the interest rate and APY may change. Fees may reduce earnings on the account. The minimum to open this account is $5,000.00

I was just going to ask, what is the current so-called “blended rate”? From what I can remember, this “change” is just different words that say the same thing.

And NBD no longer offers the Money Market account online. Their only accounts available to open are CDs.

Yup. This is great news, even though widely forecast. 2.5% is a decent rate for liquid funds these days. OK, sure: Grow is higher. But not everyone has one of those Grow accounts.

Northern is quite competitive as well with the PurePoint NPCD rate, which is also 2.5%.

So 0-249,999 earns the 2.5% APY and only the money above it goes down to the crappy rate right? Why they want to give people incentive to pull the interest out is beyond me but then it would keep people at the FDIC limit if they had that much in the account.

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That is correct.

Wealthfront now offers 2.51% APY with no fees, unlimited transfers and FDIC insurance covering up to $1M. It takes $1 to open and no additional deposit requirements.

edit to add I am not very familiar with wealthfront and have no opinion of the company. I do know that they were recently fined $250k for violations of SEC rules, so if you’re interested in this deal, you may want to do some homework first.


(5/31) edit to add that Ken now has a good write-up on this offering on his site


How can they offer $1M in FDIC insurance? And unlimited transfers? That doesn’t sound right. Does anyone have any experience with them? There’s nothing on depositaccounts about Wealthfront.

The rate sounds good but I am hesitant.

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They’re a brokerage/Investment firm, who use sweep accounts for cash balances. And sweep the cash into 4 separate banks, thus $250k FDIC coverage per bank.


Sounds good… But the interest rate 2.51% is a variable rate & can change any day. Great FDIC coverage, because it is guaranteed through 4 different Banks.

I don’t bank with Variable rate companies. So that takes care of Wealthfront for me…:wink:

Uhm… same as with any other liquid account. If it’s not a CD or a temporarily guaranteed rate, it’s a variable rate.


ZZZ, Can I still get in on this Northern? Like to switch from Ally over to Northern. Thanks!

And according to their website, they are planning on keeping their rate competitive…I just opened with them…it’s a rather interesting setup and different then conventional accounts…I like what i am seeing so far… :slightly_smiling_face:

My favorite features are: you can transfer up to $250,000 per day in or out…Although it’s called a Savings Account, you don’t have the “6 per month limit” The 1 million FDIC Insurance Coverage (because they sweep the money into 4 fdic banks)…and plan on adding debit cards, checks, bill
pay, mobile check deposits in the near future…And the high rate of course…LOL

Up to 3 external bank accounts can be linked to it…They are actually a brokerage firm…not a bank…

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