Published on July 1st, 2018 | by William Charles303
Insight 5% APY Account Will Officially End On July 1st & Your Best Alternatives
Reposting on July 1, 2018. If you need to call in, this number is probably best: 1-888-796-1516 or 855-355-8117.
Last month Insight removed mention of the linked savings account that offers a 5% APY on balances up to $5,000. We had also heard rumors that existing account holders would be shut down on July 1st and unfortunately this has now been confirmed with all account holders receiving the following e-mail:
What You Should Do
Most banks can’t successfully ACH pull from Insight so you’d need to do their ridiculous Bill Pay method they mention above. That being said, some do work (Chase, Ally, Discover, Wells Fargo, Alliant, USAA, share more in the comments). They are paying the 5% APY until July 1st so I’d wait until June 30th and then do an ACH pull from one of the working banks if you can. Otherwise you’ll need to do the bill pay mentioned in their e-mail.
I know a lot of readers have taken advantage of this account and this will be a blow. That being said there are lots of other high interest APY accounts out there, none as good as Insight but there are some that offer 5% APY or higher balance maximums as well. We always maintain a list of the best savings accounts here. If this Insight shut down will affect you, I’d recommend having a read through that list and working out a plan on where you will move your money. RIP Insight, you will be missed.