Just a public service announcement for anyone who still has one of these accounts open from a couple of years ago. I still have one with a negligible amount in it and logged in this morning for the first time since the beginning of the year. Rate is now 1.05% which is pretty competitive for liquid funds!
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Live Oak Bank savings also 1.05% starting today.
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Looks like 1++% will be the new “best”
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Just received email from Bask bank. Rate increased from 1.25% to 1.5%.
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Thanks 
. 1.5% liquid funds, pretty nice…
Purepoint
Does anyone have any insight to if and when Purepoint will move their rate up from this miserable .40% to something competitive. The account features are great but not great
enough to keep any significant balance there.
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The FOMC meeting is on Wednesday. Over the past week the rate increase probabilities have shifted from 0.5% being most likely to 0.75% now having a 93% chance.
It’s interesting that Bask Bank raised its rate preemptively, but I wouldn’t rush to celebrate or open an account there, because it’s only 0.25%. If the FED raises 0.75%, all the rate leaders will follow shortly, and Bask, unless they plan on raising the rate again, may only be the leader for a few days.
The probabilities for the next meeting have also shifted from 0.5% to 0.75%. If Wealthfront goes up the same way it went down (in lockstep with the FED), it could be at 2.35% in 6 weeks.
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It changed quite a bit today. In the morning, the probability of a 75 bps hike was only 35%, but it ended the day at 94%. Now the pundits are saying that the real surprise would be a 100 bps hike.
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Great link, thanks for posting.
Ken touting Bask Bank in a blog post dated today:
https://www.depositaccounts.com/banks/bask-bank/offers/
It’s a rather extensive and detailed write up.
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CIBC up to 1.27%, no max as far as I am aware of.
That’s a significant increase from the old .72%. They are usually in the Alliant/Ally range so I would expect some of the larger players to be making moves soon as well. Alliant probably waits until July 1, though.
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Poster @scanchain obviously has a nose for high liquid account rates. It’s a remarkable talent. Some people have it. Others of us are left to do as best we are able. In any event:
A poster on Ken’s website named “scanchain” has posted there an even better liquid money deal at Merchants Bank of Indiana! Could it be the same person as our scanchain? I dunno. Regardless:
https://www.depositaccounts.com/banks/merchants-bank-of-indiana.html#promo48074
You will need to scroll down to locate scanchain’s post. Here is a direct link to the Merchants Bank of Indiana Money Market page:
Some of the very nicest people in America live in Indiana. I would rather do business there than in many other places, which are a whole lot more cutthroat.
Note: to get this account launched you will need to deposit a minimum of fifty dollars.
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@shinobi, you caught me. I made that post on DA. 
A little background on the MM account at MBOI. I opened that account in 2020 and at that time, it sported an ACH system, as well as mobile check deposit if I recall correctly. Sometime in 2021, MBOI removed the ACH and check deposit capabilities. So now all money transfers must be initiated externally. I think they do one-time transfers with wire and waive the charges, but that is a hassle and requires you to call in.
As I understand now, if you open a new account with them, the only way you could fund it is through a wire. After that you could setup ACH links using your external accounts.
One more thing I forgot: this MM account provides you with checks. So this is one other way you can withdraw money from the account.
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Thanks, scanchain. OK . . .
If I understand correctly, once the account is established you may move money in and out freely via ACH provided those ACHs are initiated external to MBOI.
And I acknowledge that withdrawals via such ACHs would be limited to no more than six per month, with no limits on ACH deposits.
If this is correct I really see no practical limitations. Personally I initiate (almost) all my ACH funds movements at one or the other of my two hub accounts, Ally and Alliant. I really would not care about ACH rules for transfers initiated at MBOI.
@shinobi, all your points are correct. I initiate all transfers outside of these high-yield “barebone” accounts (e.g. with Bask and MBOI). Being “barebone” probably allows them to offer the highest rates.
The only difficulty with MBOI is that it appears that a wire is required for the initial funding. This may be a hassle for some.
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It is not permitted to send them a (paper) check?
That (paper check) I don’t know.
No…on the phone they told me they will ONLY accept a wire for the initial deposit…no push in or paper check allowed for that first deposit…
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Thanks, craig10x. Very helpful.
OK, so there is an admission fee of twenty bucks, plus or minus, to get this account moving.
I wonder if they would allow you to snail mail them a fifty dollar bill, instead.
For me it’s more about the expense than about any possible hassle.
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You can get free wire from some places e.g. Fidelity or Marcus (though I understand you don’t want anything to do with Marcus).
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