Insight Is Only Closing 5% APY Accounts Opened Online

Insight offers a savings account that earns 5% APY on balances up to $5,000. We’ve previously reported that all of these accounts were set to be shut down on July 1st, 2018 (today). It looks like that isn’t accurate as only savings accounts that were opened online have been shut down and those with accounts opened via phone or in person have been kept open. Reader dubs3011 called in and asked what was going on, got escalated to a supervisor and confirmed that this was the case. It’s possible that these accounts will be shut down at a later time, but for now it seems like they will be safe. Unfortunately it doesn’t look like you can just open a new account via phone or in person as they aren’t allowing any new accounts to be opened.