They also have a checking account paying the same 5% rate, with no apparent requirements. Or a checking account that pays a $.50 reward for every debit purchase transaction ($.51 Amazon account reloads, anyone?).
The application is quick, but you need to link a bank account to complete it. It looks like it wants you to use your login credentials to your outside bank to create a link, but will also give you the option to just provide routing and account number to use trial deposits.
It may be the only 5%+, since they’re ahead by more than 0.5% and the FED is expected to hike by 0.25% twice before pausing.
First Foundation Bank, was 4.0%, now 4.2%.
Let us know if you get a hard credit pull. Seeing reports elsewhere that they may be doing a hard pull as part of the application process.
I really dont pay attention to that any more. They want a linked account with funding instructions before completing the application, so it’s going to be the end of the week before I’d know anyways.
You don’t have credit monitoring? I get an instant email barrage from CK, FreeCreditScore, CapOne, Discover, etc…
Not that I pay any attention to. I do check credit karma occasionally for any rogue accounts.
Very interesting bank. Wonder how long this rate and feature(50 cents for each debit swipe) is gonna last!
With the likely end of pandemic public emergency May 11, it’s possible Regulation D for savings accounts could reinstate the 6 withdrawal limit.
Primis ACH transfer limits are $30k/day and $100k/month using their system. But supposedly the opening deposit is unlimited; I’m waiting on verification deposits, but the rep told me I could do an opening deposit of $250k if I wanted. Also said deposits generally post in 2 business days. I didnt ask, but there’s no reason to suspect they limit external ACH pulls.
Edit: I was able to fund my new account with a 6-figure deposit. It’s being held as I would expect, but appears to have already posted to the balance of my new account almost instantly. After opening I also entered a ACH request to pull a small amount from a different bank, and that posted almost immediately as well. Very easy to add a POD beneficiary too.
Obviously being an account holder for roughly 15 minutes doesnt qualify for an endorsement, but so far so good!
I doubt it. The Federal Register:
I believe we’ve discussed before that it’s a stupid limitation anyway, since there’s no limit on the number of savings accounts you could open at the same bank, and there’s no limit on the dollar amount that can be withdrawn. It’s a gimmick.
Ally Savings rate increasing from 3.30% APY to 3.40% APY effective 2/1/23.
Republic Bank MM was 4.37% now 4.47%
CFG Bank Savings was 4.25% now 4.30%
Popular Direct Savings was 4.16% now 4.26%
Ivy Bank Savings was 4.05% now 4.25%
even made Slickdeals. Gone soon?
It’s not a gimmick. It’s to make the difference between a savings and a checking account. At some institutions there is a limit on supplemental savings accounts, At Alliant it’s 19. The limit on withdrawals is a good idea to help bank stability and enable them to pay higher rates.
I sure wish Alliant would pay competitive rates again! 
Alliant up it a bit to 2.95% today (was 2.7%).
Blue FCU MM was 4.15% now 4.25%
Ivy Bank Indexed Savings was 4.03% now 4.71%
Community Wide FCU Monthly Savings was 3.50% now 4.00%
TIAA Bank MM was 3.35% now 3.45%
Alliant CU Savings was 2.70% now 2.95%
PenFed CU Savings was 2.30% now 2.70%
UFB Best Money Market and UFB Best Savings increased to 4.21% APY