No disrespect intended or seen. Anyone on that stage could reference a change in interest rates and I believe quite legitimately so. I have no criticism of that whatsoever. Period
But I do not think it is something Powell would welcome. He might instead prefer to delay any interest rate changes to a time more propitious.
So normally we don’t discuss reward checking accounts in this thread for obvious reasons but the most recent post on Ken’s site for one caught my eye. It’s 3% on 20k max which isn’t great but also isn’t bad given where interest rates may be headed. The thing that makes this account interesting is how easy the requirements are to meet, as the only requirement other than e-statements and a $100 min balance is 15 transactions per statement cycle and ACH transfers count!! Very easy to do with a secondary bank like Alliant or Ally. Just thought I’d post it here in case anyone else sees value in it.
Just a heads up…anyone who took me up on the offer to contact Nate previously to get the 2.50% for a year rate lock…this new rate/rate lock is for their SAVINGS where the previous was for their MMA account so neither will conflict with the other. You could easily open the new one, move the money to get 2.55 until it changes then move it BACK into the mma for the remainder of it’s lock.
I haven’t needed to. I’ll probably do exactly as I described and open the savings to get the higher rate for however long then roll back into the mma.
You are welcome to contact him and see what he can do. If he asks tell him Rudi referred you to him. Please Keep this in THIS forum and not distributed elsewhere.
To clarify, it’s only withdrawals that count towards the 15 transactions; pulling money out via ACH qualifies, but pushing money in does not. But yes, that’s a pretty unique twist to the typical requirements.
Even better is the fact they just raised the interest rate, when a rate cut is near-universally presumed to be imminent. Maybe they just like swimming against the tide, but we can hope it’s a sign that rates may be plateauing but aren’t about to fall off a cliff.
For those very active or can be. Fitness Bank as high as 3% APY based on at least a 12,500 daily step average or 10,000 for seniors from previous month. If you already run/walk five miles a day here you go. Requires downloaded step tracker app. Rates are on a scale determined from number of steps.
For those who do not need instant access to $$, you can do a roll your own account at Fidelity using 1 month T-bills with their autoroll feature. The 1 month bills are currently yielding 2.25% Daily treasury yield curve
Fidelity does not charge to buy Treasury securities at auction. There is an auction of 1 month bills every week. If you need quick access you can build a ladder of T-bills with some coming due every week.
Here in Taxifornia that works out to 2.25/(1-.093) = 2.43% for a fully taxable account.
Thanks zzz, Only time will tell as far as getting that glorious $500 bonus.
At least I’m getting the lowly 2% interest each month on the original $50K deposited with Capital One 360.
I started the epoch journey February 8, so today it’s been 5 months. Hard to figure how many days over the first 90 days required for this bonus.
VUSXX minimum investment is $50k
VMFXX is $3k
VMMXX is $3k, with Admiral version at $5M.
So unless you want to keep $50k in your account, it looks like your choice at Vanguard would be between VMFXX and VMMXX.