Here’s a list of the best high interest savings accounts. Get up to 5.10% APY with a basic savings account. There are also accounts with requirements that pay even more. We don’t receive any commissions for any of these, and ALL banks are included in this list.
Contents
Best Basic Savings Rates
Leaving money in a regular bank account will usually get you a terrible interest rate. With a little research, we can find accounts that offer competitive rates. These are all ordinary savings accounts with no hoops to jump through, and they are FDIC/NCUA insured up to $250,000.
Please verify insured status for yourself with FDIC and with NCUA before using a bank or credit union. Also please read this article about the FDIC insurance on fintech banks as well.
Here are the best options available, rated in APY from highest to lowest:
- Hustl Financial – 5.00% money market (our post)
- Evergreen – 5.00% high yield savings ($25k minimum)(discussion)
- Roger – 4.65% savings (requires opening checking; max $250k)
- Elevault – 4.60% (max $250,000; iOS/Android)
Neighbors Bank – 4.60% savings- Presidential Bank – 4.50% Advantage Savings ($5k-$250k; requires checking)
- Climate First Bank – 4.46% money market ($50k minimum)
- Peak Bank – 4.44% Envision savings (new accounts)
- TotalBank – 4.41% money market (balances $2,500-$500,000; not available in FL)
- Timbr – 4.40% bold savings
- OnPath CU – 4.40% elite money market ($25k minimum; $100 bonus)(see this comment)
- Zynlo – 4.40% money market
- Newtek Bank – 4.35% savings
- Brilliant – 4.35% surge money market ($1,000 minimum)
- Primis Bank – 4.35% APY savings (review)
- Zynlo – 4.35% savings ($100 bonus)
- CFG Bank – 4.32% APY high-yield money market (must maintain minimum $1,000)
- Vio Bank – 4.31% APY money market
- MyBankingDirect – 4.30% APY savings
- Openbank/Santander – 4.30% high yield savings ($180 Verizon Wireless bonus)
- Brio – 4.30% high yield savings (minimum $5,000 to open)
- EverBank (TIAA) – 4.30% APY Performance Savings (see this comment)
- Comenity ‘Bread’ – 4.30% APY savings
- Western Alliance – 4.30% high yield savings (review)
- TAB Bank – 4.26% high yield savings
- Poppy Bank – 4.25% premier savings ($25k monthly withdraw limit)
- Republic Bank – 4.25% APY money market (minimum $2,500)(nationwide except IL, IN, WI, MI)
- Colorado Federal – 4.25% APY savings (4.45% > 50k)
- Ivy Bank – 4.25% savings ($2,500 minimum; nationwide except for CA)
- Merchants Bank – 4.25% APY money market
- Forbright Bank – 4.25% savings
- Evergreen Bank – 4.25% high yield online savings
- Fierce – 4.25% cash account (requires iOS app)($30 Swagbucks bonus)
- Styl Bank – 4.25% APY (not accepting new customers)
- Wings Financial CU – 4.25% platinum plus savings (new money only; 4.5% possible)
- Quontic – 4.25% money market
- First Foundation – 4.25% online savings
- Customers Bank – 4.23% savings ($25k minimum)(auto-adjusts with fed rate)
- Valley Direct – 4.20%/3.75% APY savings (14,450 MyPoints signup bonus)
- Bask – 4.20% savings account
- Jenius Bank – 4.20% savings
- Primis Bank – 4.20% APY checking (review)
- Prime Alliance – 4.15% savings
- CIBC – 4.11% APY savings (minimum $1,000)
- Flagstar – 4.11% savings (minimum $25k, guaranteed for 5 months, then it drops)
- Live Oak Bank – 4.10% APY savings ($300 bonus)
- Popular Direct – 4.10% APY savings (see this comment)
- Redneck Bank / All America Bank – 4.00% APY money market, up to $100,000 (review)
- Public – 4.10% high yield cash account
- Barclays – 4.10% tiers savings (4.40% AARP + $200 bonus)
- BMO Harris – 4.10% alto online savings (select markets)
- Upgrade – 4.02% APY everyday/premier/performance savings (minimum $1,000)(see this comment)
- Salem Five Direct – 4.01% APY eone savings (see this comment)
- UFB – 4.01% APY savings account (see this comment and this)
- CIT Bank – 4.00% platinum savings ($5,000 minimum)
- NASB – 4.00% E-Savings (check incognito) ($10,000 minimum) (see this comment)
- Western State Bank – 4.00% APY money market (our review)
- Sallie Mae – 4.00% APY money market
- VirtualBank – 4.00% APY eMoney Market
- Axos – 4.00% summit savings
- E*Trade – 4.00% APY savings (possible $750 bonus)
- Wealthfront – 4.00% APY cash account (signup bonus)
- Betterment – 4.00% saving account (our review)(temporary .50% boost)
- Dollar Savings Direct – 4.00% APY savings (see this comment)
- PNC – 3.95% high-yield savings (select areas)
- Wise – 3.92% interest feature
- Synchrony – 3.80% APY savings (Paypal version here)
- Laurel Road – 3.80% high yield savings
- Citibank – 3.80% APY savings (not available in all states) (our review)
- Northern Bank Direct – 3.75% APY premier money market
- Empower/Personal Capital – 3.75% APY cash account (our review)
- Webull – 3.75% cash management account ($25k minumum)
- One Finance -3.75% savings ($5,000 minimum, $100,000 max)(review)
- TradeUp – 3.72% Cash+ program ($100k minimum)
- Lending Club Banking – 3.70% APY high yield savings (see below for 4.50% option)
- Citizens Access – 3.70% APY savings account
- Apple Card/Goldman Sachs – 3.65% savings (our review)
- Marcus Bank – 3.65% APY savings
- Vanguard – 3.65% Cash Plus account
- American Express – 3.60% APY savings account
- Ally Bank – 3.60% APY savings or money market
- Discover – 3.50% APY savings (review)
- Capital One 360 – 3.60% APY savings
- U.S. Bank – 3.50% Smartly Savings (minimum $25,000)
- U.S. Bank – 3.50% elite money market (minimum $50,000)
- Alliant Credit Union – 3.10% APY savings
- PenFed – 3.00% APY premium savings
- T-Mobile Money – 2.50% APY savings for anyone (4% on up to $3,000 for T-Mobile customers; our review)
- Fidelity – 2.21% cash management account
- Blupeak – 2.00% money market ($300 bonus)
- Chime – 2.00% savings
- American Express – 1.00% APY checking account (our review)
Other Basic Options
- Raisin – see this post
- Leader Bank – 5.00% Zeugma Plus Savings (requires $1k DD + 3 debit)
- Axos One – 4.66% with requirements
- Lending Club – 4.40% Level Up Savings (requires $250 deposit prior month)(see this comment)
- First Internet Bank – 4.69% money market with balances of $1M+
- Farmers Insurance FCU – 4.50% 9 month no-penalty CD (membership via ACC)
- M1 Finance – 4.25% APY savings account (our review)
- Morgan Stanley – 4.25% APY Preferred Savings Program
- USAlliance – 4.15% 11-month no penalty CD
- Marcus – 4.10% APY 11-month no penalty CD
- Maxmyinterest – 4.05% max savings (see this review first)
- Robinhood – 4.00% APY for those with Gold membership ($5/month; our review)
- Ally Bank – 4.00% 11-month no penalty CD (review)
- SoFi Savings – 3.80% with monthly direct deposit of any amount; (4% first 6 months) (our review)
- J.P. Morgan Premium Deposit – 3.80% ($100,000 minimum initial deposit)
- Merrill Edge Preferred Deposit – 3.67% savings (initial opening needs $100,000)
- Customers Bank – 2.00% APY checking (requires 2 bill payments, otherwise rate is 1%)
All of these rates will fluctuate over time, and we’re constantly updating this list. There is an advantage to a bank who has a proven track record of giving good interest rates since some of the top rates might be ‘bait-and-switch’ soon to be lowered. Banks like CFG, Discover, Marcus, Ally and some others have been known to offer competitive interest rates for many years. Their rates will also fluctuate but will likely always be a good rate. See also What’s The Best Simple High-Yield Savings Account?
Another thing to keep in mind is that while most banks automatically increase your rate as interest rates increase, some don’t. We wrote data points on which do and which don’t here. Keep that in mind when choosing a bank.
Most of these are savings accounts, with a few checking accounts mixed in. We wrote about options for getting a high yield on your checking account in this post.
Alternative High-Yield Options
- Government Series I Bonds are currently offering 4.30%, you’re limiting to purchasing $10,000 annually (our review)
- U.S. Treasury Bills (our review)
- Brokerage Money market funds and Bond funds
- U.S. Series EE Bonds
- CD Annuities
- Vanguard VMFXX – 4.33% (more options)
- Fidelity SPAXX – 4.06% (more options)
- Schwab SNVXX – 4.10% (more options)
- SGOV etf treasury fund
- Interactive Brokers – 3.83% for IBKR Pro (minimum $100,000 balance)
Best CD Rates
Nationwide CD Offers:
11 Months or Less
- Northern Bank Direct 4.60% 6-month CD
- First Bank Of The Lake 4.50% 7-month CD
- Presidential Bank 4.50% 7-month CD
- Newtek 4.45-4.50% 6-9 month CD
- Pelican CU 4.49% 6-12 month CD
- Comenity ‘Bread’ 4.45% APY 12-month CD
- Limelight 4.40% 6-month CD
- NASA FCU 4.39% APY 9-month CD (review)
- Sallie Mae 4.35% 11-month CD
- America First 4.35% 3-17 month CD
- CIBC 4.26% 9-month CD
- Langley 4.25% 10-month CD
- Merchants Bank 4.25% 3/6-month CD
- DCU 4.25% 3-5 month CD
- Alliant 4.10% 6-month CD
- Ally Bank 3.90% APY 6-9 month CD
- Chase 3.50% APY 4-Month CD (no minimum) (review)
12-18 Months
- Schwab up to 4.40% APY brokered CD 2-year (review)
- Vanguard up to 4.30% APY brokered CD 4-6 months (review)
- Fidelity up to 4.30% APY brokered CD 6-9 months (review)
- Merchants Bank 4.60% flex CD 12/24/36 month (rate changes, tied to fed rate) (our review)
- T Bank 4.55% 12 month CD
- Pelican CU 4.49% 6-12 month CD
- Eagle Bank 4.45% 12-month CD (not in CA, NV, or VT)
- PopularDirect 4.40% APY 12-month CD ($10,000 minimum)
- Colorado Federal 4.40% APY 12-month CD
- USalliance – 4.30% 12-month CD
- Navy Federal 4.30% 12-month CD
- NexBank 4.40% 12-month CD (minimum $25,000)
- State Bank of Texas 4.35% APY 12-month CD (minimum $50,000) (our review)
- Bask Bank 4.25% 12-month CD
- Limelight 4.35% 12-month CD
- CFG 4.15% APY 12-month CD
- USAlliance 4.25% 12-month CD
- CIBC 4.21% 12-month CD
- Vibrant CU 4.20% 13-month CD (see this comment)
- First Internet Bank 4.20% APY 12-month CD
- NASA FCU 4.19% APY 15-month CD (review)
- My eBanc 4.15% 18-month CD (review)
- Marcus Bank 4.10% APY 12-month CD
- Alliant 4.10% 12-month CD (4.15% with $75,000)
- Seattle Bank 4.10% APY 12-month CD
- Discover 4.00% APY 12-month CD
- Alliant 3.85% 18-month CD
19+ Months
- Penair 4.5% 21-month CD
- USalliance – 4.35% 24-month CD
- GTE – 4.33% 60-month CD (minimum $100k)
- Bank5connect – 4.25% 24-month add on CD
- NASA FCU 4.09% APY 49-month CD (review)
- Comenity ‘Bread’ 4.00% APY 24-month CD
- Fidelity Bank 3.50% 25-month CD
- BMO Alto 3.80% 24-month CD
- American Express 3.50% 24-month CD
Best Business Savings Rates
- Republic – 4.55% money market ($2,500 – $250k; see this comment)
- NBKC Bank – up to 4.25% business CD
- Axos Bank – 3.80% business premium savings ($375 bonus)
- U.S. Bank – 3.50% business money market (minimum $25k)
- Primis – 4.00% business savings
- Forbright – 3.15%/3.90%/4.00% savings/MM/CD
- Wise business – 3.92%
- Bluevine – 1.50% APY business checking (requires receivables or debit spend)
- Bluevine – 3.70% APY Premier business checking (requires $100k and $5k spend to waive $95 fee)
- U.S. Senate FCU (USSFCU) 3.65% APY 24-month business CD (join with ACC membership free)
- Live Oak Bank – 3.35% business savings
- TAB Bank – 3.44% money market
- [CT, MA, RI, PA] Owners Bank – between 3.50% and 5.01%
- Newtek Bank – 3.50% business savings
- First Internet Bank – 3.40% APY money market
- First Internet Bank – 3.25% APY money market savings ($4,000 minimum to waive fee)
- Credit Karma – 3.00% savings for Quickbooks customers
- Panacea/Primis – 2.50% business savings
- NBKC Bank – 2.00% business money market
- Lending Club Banking 1.50% APY business savings (review)
- American Express Business – 1.30% APY checking account (up to $500,000; plus 30k bonus)
- Paramount Bank – 1.10% business money market ($5,000 minimum to avoid fee)
- Axos Bank – 1.01% APY business checking (up to $50,000)
- Newtek Bank – 1.00% business checking
- Lending Club Banking – .25% APY tailored checking (review)
Requirement High-Interest (Nationwide)
Aside from basic accounts offering competitive interest rates, there are ultra high-yield options which are more involved and take time and patience to deal with. Bear in mind, all of the best options have velocity limits, sometimes it’s $5k, $10k, $15k, or $20k. You’ll never be netting more than $1,000 in annual interest from any of these accounts, and it’s usually much less than that. Someone who is impatient or doesn’t have spare time would best use a standard high-interest savings account options and forget about the velocity-limited accounts.
Below you’ll find all mega high interest accounts which are available nationwide, and in the next segment we list the regional options.
- Andrews FCU 5.5% APY Kasasa Cash Checking ($150 signup bonus)
- Revity FCU 6% high yield checking up to $15K
- mph 5.00% savings on up to $50,000 (requires $2k direct deposit)
- Genius CU (nationwide) 6.50% on up to $7,500 (w/10 debit trx)
- Element FCU – 10% on up to $5,000 with some steep requirements
- Fitness Bank 6% APY on up to $25k When You Have An Average Of 10,000+ Steps A Day
- OnPath FCU 7.00% checking on up to $10,000 with qualifications (details here)
- Pelican State Credit Union Kasasa Checking Account – 5.01% APY On Balances Up To $20,000
- Presidential Bank 4.625% APY Checking On Up To $25,000 (With Requirements)
- Genisys Credit Union 6.75% APY High Yield Checking Account – Up To $7,500
- Aspiration Spend & Save: 3%-5% APY On Balances Up To $10,000
- Elements Financial 5% APY Checking Account, up to $20,000, with requirements
- Service Credit Union 3% APY On Balances Up To $3,000 + 5% savings account on up to $500
- Bank of Missouri 3.05% APY on Balances Up Too $15,000 (nationwide)
- Porte Bank 3% APY On Balances Up To $15,000 + $50 Referral Bonus
- Western Vista Credit Union Rewards Checking 3.00% APY On Balances Up To $15,000
- Varo Money Savings Account – 5% APY (balance less than $5,000)
- Orion Federal Credit Union Premium Checking 5% APY On Balances Up To $10,000 (DD Not Required)
- Consumers Credit Union 4.09% APY On Up To $10,000 Rewards Checking
- T-Mobile Money Review – Earn 4% APY On Balances Up To $3,000 (Requires T-Mobile Account)
- Liberty Federal CU (Evansville): Vertical Dividend 3.50% APY Account, Balances Up To $20,000
- Great Lakes Credit Union (GLCU) – 2.50% Rewards Checking Account Review, up to $10,000
- Signature FCU Rewards Checking 3.50% APY on up to $20,000 [Nationwide]
- MarketUSA Federal Credit Union 3% APY Rewards Checking – Available Nationwide
- Lake Michigan Credit Union: 3% Reward Checking Account On Up To $15,000
- Blue Federal Credit Union 2% – 4% APY on up to $15,000
More Restrictive Options:
- H-E-B Netspend 6% APY Savings Account On Balances Up To $2,000
- Blue Federal Credit Union 4.99% APY Account (Up To $1,000)
- Premier Members Credit Union Reverse Tiered Money Market Account – Up To 2% APY on $2,000
- DCU 5.50% APY on balances up to $1000
- Netspend Prepaid 5% Interest Rate on up to $1,000
- KaiPerm Credit Union 6% APY Account On Balances Up To $1,000 (Membership Restricted)
- Workers Credit Union – .56% to .85% APY savings rate, special rate of 3.61% on first $1,000
Requirement High-Interest (Regional)
Below are the regional accounts we’ve reviewed on the site. There are many more as well.
- Parts of Nebraska, Iowa: Metro CU 6.00% 13-month CD
- Texas, Oklahoma: Union Square Credit Union 3.50% APY On Balances Up To $25,000
- North Carolina, South Carolina, Virginia, Georgia, Tennessee: Truliant FCU 6.25% CD
Louisiana, Arkansas: CNext Bank 7.00% APY Checking Account On Up To $30,000 - Ohio: Buckeye State Bank 5% APY On Balances Up To $15,000
- Iowa: Advantage Credit Union 6% APY 12 Month CD
- Parts of Texas: Keystone 5.50% on up to $50,000
- Texas, Mississippi, Louisiana: Origin Bank Performance Checking: 5% APY, Balances Up To $40,000
- Texas, Nevada, Michigan: InTouch Credit Union High Yield Checking Account – 6.17% APY On Balances Up To $30,000
- Iowa, Nebraska, Minnesota, South Dakota: Iowa State Bank 3.25% APY on up to $25k
- Arkansas, Indiana, Nevada, North Carolina, Ohio, Michigan: United Federal Credit Union: Ultra Checking Account – Earn 3% APY On Balances Up To $15,000
- Maryland, Delaware: Destinations Credit Union: 3% Reward Checking Account, Up to $10,000
- Wisconsin, Illinois: Landmark Credit Union 7.50% APY High Rate – Balances Of Up To $500
- Virginia, North Carolina: Beacon Credit Union 5.05% APY On Balances Up To $2,500
- Wyoming, Nebraska: Meridian Trust Federal Credit Union 3% APY On Balances Up To $15,000
- Illinois, Iowa: South East National Bank 3% APY On Balances Up o $10,000
- Arkansas, Mississippi: First Financial Bank 4.33% APY on Balances Up To $15,000 – Direct Deposit Not Required
- Parts of Arizona, California: Meriwest Credit Union 2.50% savings account on up to $5k [must be opened within 30 days of joining]
- Arizona Branches: Sunwest Credit Union 5.12% APY 12-Month CD (Unlimited)
- Alabama: Guardian Credit Union 4% APY On Balances Up To $30,000 Ultimate Checking Account
- Florida: Liberty Savings Bank 1% APY On Balances Up To $25,000; 1.5% Savings Account On Up to $50,000; $25 Referral Bonus
- Georgia (partial): MidSouth FCU 5% APY Checking Account on up to $10,000
- Illinois: Hometown Community Banks 4.01% APY Checking Account (10 Debit Card Transactions Required)
- Indiana: Interra Credit Union 5% APY On Balances Up To $10,000
- Iowa Premier Bank 5% APY Checking on Balances up to $5,000
- Kansas: State Security Bank 3% APY On Balances Up To $10,000 – Direct Deposit Not Required
- Louisiana: Bank of Ruston: Priority Checking Account 3% APY On Balances Up To $15,000
- Louisiana: La Capitol Federal Credit Union 4.25% On Balances Up To $5,000 – Direct Deposit Not Required
- Louisiana: Bank of Montgomery (BOM) 4.07% Premium Account On Balances Up To $15,000
- Maryland: Freedom Financial Credit Union 3% APY on balances up to $10,000
- Michigan: First United Credit Union 4% APY + $50 Bonus ($10,000 Limit)
- Michigan: Consumers Credit Union 4% APY
- Michigan (nationwide?): Chief Financial Credit Union 5.00% APY – No Direct Deposit Required
- Michigan: Arbor Financial CU 4% Checking On Balances Up To $15,000
- Michigan: Financial Plus Credit Union 4.15% APY On Balances Up To $10,000
- Michigan: Adventure Credit Union – 4% APY On Balances Up To $10,000
- Michigan: Kellogg Community Credit Union 4% APY Checking Account On Balances Up To $15,000
- Michigan: AAA High-Yield Checking – 2.85% On Balances Up To $10,000
- Michigan: Dort Federal Credit Union 6.5% APY On Balances Up To $10,000
- Minnesota: St Paul Federal Credit Union 4.99% On Balances Up To $20,000
- Missouri: Legacy Bank & Trust i-Profit 4% APY on Up To $10,000
- Missouri: Ozark Bank 3% APY Checking on Balances up to $10,000
- Missouri: Hawthorn Bank 3.01% APY On Balances Up To $30,000
- Nebraska: Liberty First Credit Union 3% APY On Balances Up To $30,000
- In parts of New York: Solvay Bank 4% APY Checking on Balances up to $15,000
- New York: Apple Bank Youth (6-17) Savings Account: 3% APY On Balances Up To $10,000
- Ohio: Bridge Credit Union 10% APY Account On Balances Up To $1,500 (Lots Of Monthly Requirements)
- Oregon: Oregon Community Credit Union (OCCU) – 5.25% APY On Balances Up To $500 Ignite Savings Account
- Parts of Oregon: Trailhead Credit Union 5% APY on up to 15k in Kasasa checking + another 15k in linked Kasasa saver ($30K total)
- South Dakota: Reliabank Ultimate Checking – 3.51% APY On Balances Up To $25,000 – Direct Deposit Not Required
- El Paso, Texas only: Evolve FCU Rewards ePriority Checking Account – 3% APY On Balances Up To $10,000
- Texas: Neighborhood Credit Union 4.25% APY On Balances Up To $50,000 + $200 Bonus
- parts of Texas: Education Credit Union 5.00% APY on up to $50,000
- Washington, parts of Oregon: IQ Credit Union 5.50% APY on up to $25k
- Washington, parts of Oregon: Columbia Credit Union 5.5% APY up to $25k checking
- Washington: WECU Credit Union 8% APY up to $5K checking + 6% on up to 2.5K in Stash savings
- Washington: STCU 5.09% APY on balances up to $500 with no requirements
- Washington: Canopy Credit Union offering 4.00% APY on first $25k
- Washington, Oregon, Idaho: Gesa 3.00% APY on $500 in Savings (no requirements) and $5,000 Checking (requirements) (our review)
- Wyoming: WyHy FCU 3% APY SmartReturns Checking Account On Balances Up To $15,000 – Direct Deposit Not Required
Anyone here have experience with Openbank/Santander? Like with ease of transferring money in and out, or do they put up barriers and long time delays? It seems too good to be true that they are still at 4.3% when so many other banks have decreased their interest rates.
They did that the first time I tried a large amount of money. I called and they approved the transfer.
Then, they did it again on the second big transfer, I got a message to call. I did not. And they approved it without any further issues, took about an hour I think.
Since then, no issues with large transfers, knock on wood.
I use Open and have had no issues. As an example yesterday I transferred $75,000 to E*trade and it arrived today.
I just checked and the rate is currently 4.3% now. Is that your highest rate now that Roger’s rate plummeted?
Roger Bank savings is now 4.05% APR and 4.12% APY. Big drop. Disappointing news, for sure. Let the exodus begin.
Wow, that’s terrible! On the bright side, they did it shortly before a holiday weekend so it looks like I’m going to be initiating a pretty large withdrawal from Roger using LCB on Thu. 😉
my account still shows 4.55. will it last longer or existing members?
It will probably update overnight. I doubt that they will grandfather anyone in to the higher rate as they didn’t when they dropped the rate from 5% to 4.65%.
“Roger” that. I see that you did there.
Why wait until Thurs if you’re transfering to a bank with a higher interest rate? Better float interest-wise?
You can collect interest at two banks for the three day weekend, as LendingClub Bank credits the account on the day you submit the transfer by 3 PM Eastern on a business day. That double-dip advantage would be more than what is “lost” due to the decreased interest earnings at Roger.Bank for a couple of days.
Oh, does that only work with LCB? I want to pull all my remaining funds in OnPath to Openbank. I thought about doing that tonight. (I don’t have LCB.Should I get it for that feature (aka hack)? )
Some banks do, most do not, credit the deposit as soon as the transfer pull request is submitted. Live Oak Bank and Marcus are two off the top of my head that do. Probably not worth getting a bank for a single feature, but LendingClub (aka LCB) does work very well as a hub account, and doesn’t pull Chex.
Assuming a $100K balance, getting 3 “extra days” of interest at 4% APY is about $33. At $10K, it’s only $3.30.
However, there is a current rant session about some instances of LendingClub locking accounts, asking for docs, etc. YMMV
It still shows the 4.55 rate(4.65 apy) when l look at my account in the app. Maybe that will change tomorrow.
I accept full responsibility for this. When I posted the news of the Roger rate drop early this morning my time, I should have included the extra context that our Account Details online will not show the change until next day. Sorry about that.
My account still has a 4.55% APR for the time being.
That is a HUGE drop. I could have seen maybe down to 4.3%, but 4.12%, yowza.
Thank you for the quick information! Now I’m fleeing Roger too. Disapointed with Roger. Too big a drop.
I tried to ACH withdraw the remainder of my funds from OnPath yesterday. It’s website currently dispays this message: “External transfers outside of OnPath loan payments are currently limited. We are working quickly to restore full access. Thanks for your patience.” According to CS, “limited” means for days now its system hasn’t allowed any external ACH transfers — no matter if initiated from OnPath or the external bank. I had previously withdrawn the majority of my funds by wire. Yet, for even this wire transaction, OnPath showed its incompetence. It entered the incorrect amount, admitted to its mistake, acknowledged the two-day delay, and, unbelieveably, would not waive the $20 wire fee. OnPath’s ACH withdrawal policy really sucked before the June 1st drastic interest rate drop and system overhaul. And now basic ACH withdrawals are unavailable. Finally, if you are already a customer, forget any prompt response from customer service. For me, the wait time for speaking to a CS rep has remained exceptionally long ever since I first opened my account. Again, STAY AWAY from OnPath!!!
I initiated an ACH withdrawal from my OnPath Checking account earlier this morning on LCB’s site so I hope that you are wrong. I went to OnPath’s homepage and saw no such message. Can you direct me to where you saw that message?
That’s good to know. I wasn’t really too worried but it’s always good to get positive DPs.
I am glad to hear that, but is totally contradictory to: 1) what the CS told me two days ago and 2) the yellow banner warning on the Dashboard screen.
I signed into my OnPath account twice today. Once this morning and just a few minutes ago before typing this message. Each time after I signed in, there appears at the top of the Dashboard screen, a yellow banner with the warning message I wrote about above. Does it just appear for me since I wired out most of my funds? No one else sees it?
Below is the only message that I see prominently displayed on OnPath’s website. Where does it show “External transfers outside of OnPath loan payments are currently limited. We are working quickly to restore full access. Thanks for your patience.”?
We’re currently experiencing a higher-than-usual call volume, which may result in longer wait times when contacting our Call Center.
We apologize for the inconvenience, and we’re doing everything we can to support our members—including increasing the number of Contact Center agents available to assist you as quickly as possible. In the meantime, we encourage you to visit our transition pages below for important updates and helpful information about the new Online and Mobile Banking experience.
Welcome Louisiana FCU members
OnPath Credit Union members
After signing in, the warning appears at the very top of the Dashboard screen in a yellow banner. I just signed again and still see it. “External transfers outside of OnPath loan payments are currently limited. We are working quickly to restore full access. Thanks for your patience.”
CSR appears misinformed regarding transfers initiated at external banks. I added an OnPath account as an external account at another bank on 6/29. The trial deposits were successfully pushed and pulled yesterday.
If this is true, that is further evidence of OnPath’s incompetence and evem more reason to stay away. Pickle Rick, do you see that yellow banner with the warning at the top of the Dashboard page? Sheeesh, why would i make this up?
And in addition, OnPath does not state the interest rate being paid in the Account Details, and they still only allow 3 free withdrawals per month from the MM, and their transfer limits if initiated at OnPath are embarrassingly low.
I will attempt a pull from an external bank. Probably Openbank. Do you or anyone know if the pull is only effective if money is in the basic savings account? Or can you pull directly from the MMkt account?
No one is saying you’re making it up brother. I see the banner too on every login, for all of my logins. If someone doesn’t have it, it’s likely a content blocker or browser issue that’s blocking the message.
Misinformed CSRs are pretty common in the industry. While there’s a lot I’m unhappy with at OnPath, I wouldn’t discount the FI for a CSR giving me incorrect info.
The “External transfers outside of OnPath loan payments are currently limited” refers to external transfers initiated with OnPath. They aren’t experiencing systemic ACH issues, but rather an issue with their external transfer service. When it first rolled out, I had a transfer fail after submitting. I set it up again immediately, and then the transfer processed.
For now, they’ve disabled external transfers while they sort out the backend issues. You can see it if you have an external account linked. Start setting up a transfer, and set the “to account” to an external account. Select the from account, and it will tell you that you have to choose a different destination account.
Agree to all. I see the banner when logging into the app, but not the desktop, but was running an ad-blocker. P2, no ad-block, was seeing the banner.
But, external transfers being disabled locally in OnPath OLB/app (likely) does not impact ACH services initiated from a remote bank from being able to pull out of OnPath. We will know soon enough.
Oh yeah, I’m only saying that the CSR is definitely wrong that the system isn’t allowing ACH transactions initiated from other banks. We’ve had successful DPs, including mine, that prove that incorrect. I didn’t mean to imply that all ACH transfers will definitely succeed. Whoops.
I’ve been reading some comments about LendingClub Bank accounts getting locked after initiating transfers through them, but I’m wondering if anyone has had issues with externally initiated ACH transfers (where LCB was the RDFI).
I have not had any issues pushing money into my LendingClub accounts.
I was planning on having frequent Treasury Direct purchases and redemptions with the LCB Savings account.
No issues moving money in. Account locking happens with wiring out to a different bank from the one where the money came in if you can’t provide external bank statement in one day. They will unlock your account if you can provide documentation. I wasn’t able to provide documentation on the first two tries till the 3rd try late in the afternoon. They wouldn’t even consider my external bank’s signature card with my name and all info on it. Only bank statement allowed. My external bank was OnPath and they didn’t tell me paper statement was the default for new customers. So I was charged $2 paper statement fee and the statement came late too. I found the statement the same day my account was locked and LCB wouldn’t honor it because it was my 3rd try providing documentation. My account has been locked for over half a month now. No idea when they’ll unlock. It’s very painful to go through this. I wished I would have known all this before I used them. Now it’s all too late. My life savings are locked up with no access. It’s almost like a death sentence.
One thing to avoid is to have different external banks for the transfer in and out. I hope with the same external bank and no wires, it will be smooth.
MidFlorida CU has a HY Savings account – 5% on up to $2000 and with the online application you can fund up to $1500 with a credit card. Must be in their service area which is most of Florida. Soft check Experian and no Chex.
Hanover Bank – Kasasa checking
5.75% APY on up to $25,000
They’re in NY, looks like in branch or call to open
https://hanoverbank.com/rewards-accounts/kasasa-cash-checking
I would consider applying if they don’t pull Chex. Have you applied yet or are you planning on trying for it?
I haven’t applied yet, still on the fence. I may give them a call this week to see how easy it will be to open. It comes to about $30/month more than 25k sitting in a 4.3% HYSA.
I’ll wait patiently for your DP. 😉
Updated, thanks all (update #162). I did an update on the CD rates as well this time.
You should add Samsung Money to the list. 4.25% unlimited on all balances with no chex pull, and has both checking and savings.
I’m not seeing Fairwinds here, their Emergency Savings has like 5% APY though.
Oh. Only on the first $1000 you saved. nvm
For anyone that has the Customers Bank Max savings account, the rate was increased from 4.04% APY to 4.06% APY. Absolutely trivial, of course.
The APY increase was so small, I had to squint to see it. Even my calculator said, “Really? You woke me up for this?”
Should I update my will now?
Wow! It let them return to top of the heap at Max by .01% point!
I guess they are competing in their own tiny circle 🙂
https://maxmyinterest.freshdesk.com/support/solutions/articles/11000015383-current-interest-rates
I can’t even open a Max savings account. Kept getting rejected when I tried the 3rd party route. Anyone has success on that? Maybe you have to be really wealthy first.
Discover online savings down to 3.50% APY from 3.60 APY
https://www.discover.com/online-banking/savings-account
Discover Money Market is down to 3.40% also.
Expect C1 to do the same in the next 7-10 days. They have typically followed suit in the past, since even before the merger.
They shouldnt allow these mergers