Best Nationally Available High APY Liquid Accounts

Finance
1311

I’m glad you got your bonus and better you have it than Capital One. That said … and I know I will take heat for this … you do realize now you weren’t eligible for the offer per their T&Cs, right?

[Edit: I’m saying this under the assumption that "I guess I … " meant “I realized that I could have”, rather than “Their claim without details and which I cannot understand how they came up with it”. If the latter, I retract my question. Again, I’m not rushing to Capital One’s defense. They irritated me once denying me a savings account bonus because I had once had an account at ING Direct many years ago.]

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1312

It’s as if they were to say, “we don’t need your money!”.

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1313

Trump has doubled down, just within the last few hours, with his Fed jawboning. He has surpassed outspokenness. Things are becoming hyperbolic:

Trump raises pressure once again in effort to decrease interest rates

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1314

Ha Ha! Shinbone wakes up. :wink:

ETA: Re-reading this thru different glasses … this may sound more smart-%^$ than I meant. I meant that practically everything the President says is hyperbole. I finally realized that he just talks that way, and have gotten accustomed to it.

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1315

Agreed. Years ago, as a college undergrad, I was thrown in with large numbers of classmates right off the streets of NYC. I was just a country boy, then and now, so their ways were a whole lot different than those to which I was accustomed. A process of acclimatization went on for me back then. It has remained with me over the years and helps me understand and tolerate Trump, perhaps more readily than for folks who never had the early exposure I experienced way back to all those NYC denizens.

1316

I for one can put up with his “Fed jawboning”. When Trump becomes a winner in this election, our money rates will “head back up” to tolerable again. Can you imagine socialized living under any of these hateful ----- democrats running now? Not me!!

1317

I for one could see ANYONE or anything including morris the cat doing a better job than Trump and no I’m not a democrat.

I politely asked twice that we leave politics out of this forum but apparently I’m the only one willing to honor that.

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1318

Sorry folks… I was reprimanded once before for talking politics. :face_with_raised_eyebrow:

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1319

Just completed a quick study of ACH money movements between liquid accounts at Alliant and Grow. Outcomes are mixed but wanted to report anyway, for whatever this might be worth:

Money was moving via ACH initiated at Alliant from Alliant checking to Grow Promo MM, also a very liquid account. Obviously the interest rate at Grow is a lot higher, hence the desire to move the funds, while maintaining liquidity.

Two such funds transfers, last month, took overnight to complete. Funds were credited at Grow one day after they were debited at and dispatched from Alliant.

But this month I experienced, on two occasions, SAME DAY crediting at Grow. The funds were debited at Alliant from checking, sent out via ACH, and credited at Grow, all on the very same day!

Q: So shin, you account for this . . . uh . . . how?

Sorry, I’m unable to account for or explain same day ACH. I’m unable to tell you why the funds moved same day at times and overnight at other times. I am merely your humble reporter, seeking higher returns on my liquid funds.

Q: Acknowledged. But shin, same day ACH is a GOOD thing. Right? You were happy, right?

I was happy in the above-reported instances, sure, because there was no loss of interest when the funds were credited at Grow on the same day they left Alliant. That was great!

But remain aware that same day ACH can cut both ways. When you initiate an ACH withdrawal instruction, expecting it to hit after the overnight, and it instead hits the same day . . well . . trouble could ensue.:wink:

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1322

A very important aspect of Alliant for me, along with several of the items you mentioned, is their overnight ACH feature. It’s as feature of my membership I use virtually daily. It is very reliable.

Equally reliable is Alliant bill pay. Alliant is just simply one of the best hubs out there . . . . along with PurePoint.

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1323

Yes agree with @shinobi. In addition I have begun using them for more and more of my everyday banking. The checking account is 0.65% and the savings accounts are 2.10%. I think you can have 20 or some ridiculous number of the savings accounts. Foreign ATM fees are reimbursed within 24 hours. I took money out in Vegas and had the $10 fee refunded that same night. I haven’t found a bank that can really compete. Unless you enjoy maintaining a rewards checking account(which I don’t have any desire to do), I think Alliant is about the best you’re going to find for interest rates and feature combined in a one stop shop.

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1324

Foreign meaning non-Alliant ATMs, right? I don’t think they reimburse international ATM fees but that would be useful.

Big fan of Alliant here too. Rates are good, web site is easy and works well, billpay reliable, etc…

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1325

I’d agree that it’s a good thing. It should really not take this long. Especially between large bank where you’ve been a customer for a while. But things are moving towards instant transfer finally it seems.

Lately Chase has been offering instant transfers to Citi but with a very low limit of $5k per day. Still, it appears within 30 seconds on our Citi Accelerate savings account which allows us to not leave much liquidity on Chase and start earning 2.36% faster.

Plus FedNow is clearly showing the direction things are going. I’m thinking banks may be trying to get ahead of it so I anticipate those instant free transfers to become closer to what they are in Europe finally. If you think about it, it’s mind boggling that transfer between banks in different countries over there happen faster than between two of my banks across town down here.

As far as the transition causing problems, I could see it happen until we get used to it. Once almost all transfers are near instantaneous, I think not many (at least not folks on here) will get caught with insufficient funds. The only downside is that it’ll likely completely prevent any interest double dipping but I can tolerate that loss for saying goodbye to ACH inconsistent delays.

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1326

I’m stupidly addicted to double interest . . . have been for many, many years. It’s stupid because the actual dollar amounts are not, in the overall scheme of things, all that much . . . . . meal or two at a good restaurant maybe.

But it is fun figuring ways to obtain the double interest. It is a challenge. Years ago, with a mailed item, I carefully modified the bar code on the envelope in order intentionally to misdirect it. Took a little doing because I had to get the checksum digit right in order that postal automation not simply ignore the bar code. It worked and the item went winging off to some small post office in Florida where, as I had thought would happen, the workers there crossed out the bogus bar code and re-mailed the item to the address written upon it. But the resulting delay in that item’s arrival, despite my having met a required mailing deadline, made me money. Stupid stuff; but fun and at times modestly challenging.

BTW that same trickery would not work today. Postal automation has now advanced to where their sorting machines read the written addresses (OCR), compare with the bar code data if any (or spray a new one), and make a destination decision on that basis . . . sadly too sophisticated for me to outsmart. And besides I’m too old now anyway.

Ahhh, the good old days.:grinning:

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1327

This was announced a few days ago. It’s so far in the future that it’s not very relevant, but it’s better than nothing. I didn’t see it posted on this forum and I figure this thread is probably most appropriate.

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1328

Hold the phone. Can you explain what you are trying to say? It sounds like you’re saying that he wants lower interest rates now, but he’ll want higher interest rates later. Why what how?

This is not a political question (I don’t think), it’s related to FED rates, which are tightly coupled with interest rates on high yield savings accounts. CDs are more dependent on long term govt securities like t-notes and t-bills, which are auctioned off to investors who might be making their decisions about the future based in part on the FED decisions, but I think it’s not as tightly coupled. Point being that this thread should be fine to discuss the finance/economics of it.

1329

Trump wants more rate cuts…which will drive interest rates DOWN not up and put us closer to the recession that the inverse rate curve has been predicting for months. Trump blames the Federal Reserve’s gradual increase of interest rates for weakening domestic growth, regularly hitting out at Fed chairman Jerome Powell. The prediction of ongoing lower rates will have him “sitting pretty” around the time of the 2020 elections even if the longer term prospects of such things are a downturn in the economy. Then again he may drive more people into some areas of the stock market if they can’t make any money on safer investments such as bonds, Tbills etc.

Discussing the policies wasn’t the issue. Calling all the democrats “Socialists” as if we have NO democrats on this whole forum or claiming “all democrat run cities go to shit” were crossing the line.

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1330

I think she’s just saying that after the election, he’s going to stop caring about interest rates.

And while I agree the subject is fine to discuss, this thread is not really the appropriate place to discuss anything.

1331

Fake News!!

I didn’t call all democrats socialists. I said all the democratic presidential candidates want a socialist society. :face_with_raised_eyebrow:

1332

If you are saying it’s something all the demoncratic candidates believe in then you are stating it’s a democratic ideal. In any case you should not be bad mouthing ANYONE in a forum about interest rates.

socialist

  • n.

An advocate of socialism.

  • n.

A member of a political party or group that advocates socialism.

  • adj.

Of, promoting, or practicing socialism.

More at Wordnik from The American Heritage® Dictionary of the English Language, 5th Edition.