Everyone should realize sure, you can probably get a higher rate with some random banks out there but I’d rather take a small hit (marginal when compared to other HYSAs) for good customer support and no weird introduction rates. All of these banks listed do HYSAs well, thanks Mark!
This video is a goldmine of information for anyone looking to optimize their banking experience in 2024! The presenter's thorough analysis of high-yield savings and checking accounts makes it easy to understand the top options available. I appreciate the detailed breakdown of each account's features, benefits, and potential drawbacks, helping viewers make informed decisions about where to stash their cash. Thanks for the valuable insights! 💰🏦
It's not the same type of account but I use the Fidelity cash management account as my checking account. All the same benefits as the others with a 2.72% apy.
Great video Mark!!! When I was in Indonesia, my Schwab debit card seemed not to work with certain ATMs. In that case I used my capital one ATM debit and it worked(never had an issue with it with my multiple visits to Asia). C1 ATM in Indonesia for some reason had no ATM fees charges, C1 does not charge a foreign transaction fees. My experience with Discover basically did not work at all in Indonesia, debit or ATM.
I have checking with all four of these, solid banks for sure their savings rates are excellent. I have accounts with the other three accept Citi for checking as well their rates are low low low. SoFi, C1, Ally would be my recommended choice Discover transfers are slow.
Can you make a video about leasing / financing a new car? . This is something i was never taught because i am first generation .i would like to know the difference , what they mean and which one benefits the buyer . Just a suggestion. I love your content.
Thanks for the suggestion, Ivan! I'll consider it, but it may be a better topic for the broader financial channel I just started called The Simple Dollar Show. Check it out here: www.youtube.com/@TheSimpleDollarShow I'll add the 'lease vs. finance' topic to the future list 👍
You should ask for an Ally debit card replacement if you dont want the embossed card anymore, the new ones have the numbers in the back 👍 I have it myself and it's great
Best video I've seen so far. He actually goes over the interfaces of the websites/apps and he actually chose the best banks for the average consumer. Although I would replace SoFi with Alliant or Navy Fed.
Thank you for the video I currently have SoFi and couldn't decide I currently bank with bank of Oklahoma so because of your video I will make the switch to my SoFi
Hi mark, thank you for.a well presented review of these accounts and highlighting the features of each. I have a C1 cafe not too far away, so that might be a good option.
Idk if anyone is on here anymore but I’m stuck between the Capital 360 performance and SoFi. Sofi is quick and easy. I’ve heard great things but I already have a CC with Capital and I love how accesible they are plus they have branches. Stuck between this choice
Going with C1 would allow you to have more products in 1 place. Going with SoFi means you'd have your money in 1 place and your CC in another. No problem with that, just a slight inconvenience. Why not go with both & try them out? Then close the one you don't want. I've found getting hands-on experience with different products helps me make decisions a lot easier.
I’m trying to choose a joint bank account between Capital One and Ally for my wife and I. Do you have a preference? Accessibility to ATMs is also a plus when having to withdraw cash.
Both will work well, but I'd go with Capital One because: a. Adding a joint account owner is easier. b. The online + app interface is better designed and a little simpler to use c. The partner ATM network is a bit larger. You can learn more here: www.capitalone.com/bank/atm/
@@MarkReese not in the app but you can make a transfer between bank accounts. The way I pay bills is by adding the Amex checking account as a payment method for my chase, capital one and BOA, Wells Fargo, Discover, and Barclays cards. In the BOA app you can set up bill pay to be paid by outside banks just like the Amex checking.
Got the Alaska card last year with the 70k bonus and a $100 credit! So it was basically free for me during the first year. Also got the companion cards
I use all of these banks. I keep Chase and Wells for cash deposits. (Who is still using cash? Poker player's, that’s who!) As a self employed person I’m not a fan of SoFi’s lame Direct Deposit requirements. But all these banks have their strengths. These work well with the Dave R. Strategies of money management. 👍
I have 2 Question, I only have Wells Fargo and no other bank, I have had a few money problems where if I didn't authorize a charge I can dispute it. but I'm wondering if they can't dispute it. what can I do? and if my an other merchandise has my routing number and account (A contract), could my bank change the Routing and account number?
Great video Mark. Planning to move to SoFi, and was wondering how a bundled account works. Your explanation definitely cleared things up! Doesn’t SoFi have a $300 sign-up bonus running for new accounts that set up direct deposit?
That was the #1 mystery to me too for awhile! Glad the explanation clarified it for you. Yes, a $300 welcome offer has been available. Actually, my SoFi referral link is showing a higher $325! Check it out here: markscreditcards.com/sofibanking I've been liking the layout / interface and ease of use 👍
Currently using the Apple savings with 4.35% rate with no direct deposit requirement. However, Apple has no ATMs 😀 and there is no option to deposit directly into the savings account
Thank you for the information... I was wanting to have a little diversity in my banking portfolio... But being in a small town our physical branches are limited -- and we all know each other - - I like to keep my financial business private.... I just opened an account through your link. I hoped that way you get a commission for it...
I'm 17 and I just graduated and I'm about tog et a job but I'm having a hard time choosing a bank. My mom has been with chase since she was in her teens but she said she doesn't recommend it. Their service is horrible now. Is there any one bank I should join that I can make a savings account as well?
Thank you for another informative video! What did you think about Synchrony Bank’s online high yield savings account? Their APYs are consistently competitive. Right now it’s 4.75%
American Express checking account is at 1% APY and Western Alliance Bank High Yield Savings Account is offering 5.35% APY. There are way better options than the ones you mention in the video.
Great additions! This video isn't comprehensive. That said, Western Alliance doesn't look to be available nationwide. I'm focused on national accounts rather than regional.
@@MarkReese West. Alliance Bank is online banking only I would imagine anyone within the US could sign up for the account regardless of their location. By the way, I love your videos! I learn a lot
No Amex hasn't added that feature and I am tired of not being able to use a billpay feature to pay my bills the with the Amex checking account. @@MarkReese
Thanks for this video. Really helpful. Was using WF 2 months ago and opened a SOFI account. Extremely happy with it. Kept WF for Zelle and emergency access to ATMs. Now wondering if I should move my funds in 3.65% AMEX HYSA to SOFI and create a Vault for it at 4.60%. 🤔
Great video! Tons of information. I recently got married and looking into a joint checking account. The wife currently has a checking account with Chase and I currently have a checking with First Horizon and we both have credit cards with Capital One. Which would you recommend us opening a joint checking with? Thanks!
Hey Mark, just wondering but do you think C1 buying Discover will have an effect on if a customer has their savings with the 360 Performance Savings or vice versa if they had it with Discover Savings? Thanks for replies! Happy weekend!
Soon don’t use banks due to family using my social as a kid so my credit is cooked! But my girl has Wells Fargo and has money in savings about 12k 8 years it’s been there and only made about 1 dollar and some change. I’m thinking of recommending her the sofi or ally just not sure if I’m making the right decision. She does direct deposit for everything.
I'm not sure which account(s) you need to have in order to see the score. What I can say is that I have SoFi Checking + Savings accounts and I do see my credit score in the app on the Home tab.
My son just graduated college- looking to add a more robust bank account with easy online bill pay to automate things and apply for his own credit card. Currently has been using USAA checking (debit & Zelle), savings and is a cardholder on our credit card for emergencies. I like the simple look of Capital one. which do you think for this situation?
My vote is for Capital One, too. Fantastic interface, simple to use & find features, and I've experienced virtually no down time with the app / online portal. Also, very competitive rates on the savings account.
Hey mark I’m 21 I just closed my bank account with Wells Fargo so my job is making me wait 3 weeks bc that’s how long it takes to get my check in the mail all the way from my companies main base so I need help on deciding whether to get SoFi or discovery if I’m going to do a direct deposit, please help :)
Either one will work just fine 👍 FYI: SoFi is offering a welcome bonus from $50 - $325 depending on the size of the direct deposit. Here's my referral link to learn more about it: markscreditcards.com/sofibanking The terms are at the bottom of the page.
I have Checking account with BofA and a checking account with Capital one. I want to open a Savings account in one of those two banks? Which one you recommend?
Welcome aboard & thank you! I wouldn't say there's "one" best one, but some top ones for opening an IRA include: - Charles Schwab - Vanguard - Fidelity I personally have my IRA with Vanguard.
I’m 17 and I just graduated and I’m about to get a job and go to college(nothing crazy) and I’m trying to figure out where I should start. Credit union or one of these listened?
Either can be fine. Compare the important things like: - Monthly service fees - Minimum deposit requirements - Minimum account balance requirements - Etc. ^ Ideally, all of those should be $0.
Thank you for these great recommendations. I am going to open a hysa with ally. I had a car loan with them in the past and it was good experience. I also like the savings bucket feature
Here's a helpful article that explains the differences: www.huntington.com/learn/saving/differences-between-checking-and-savings#:~:text=Checking%20accounts%20allow%20quick%20access,%2C%20home%20remodel%2C%20etc).
When I opened my Capital One Savings account in 2019, Capital One sent an "ATM Card." Not sure if they still do. This 2023 post from "Money" says it doesn't come with a card (read the section called 'Availability'): money.com/capital-one-360-performance-savings-high-yield-savings-accounts-review/#:~:text=Since%20Capital%20One%20savings%20accounts,time%20using%20the%20mobile%20app.
Not directly, but you can do so indirectly. The 2 cash back options I have on my C1 SavorOne Card are: 1. Credit This Card (i.e., a statement credit) 2. Mail a Check to My Address ^ You could choose the check option, and then deposit that check into your Savings account.
For business...it's quite good and has been improving since launch. For person...I can't comment on it as I haven't used it. The #1 reason I ran away fast though was the lack of a bill pay feature, at least when it launched. You could only pay Amex bills, which was hugely limiting. Not sure if that's still the case.
I have a discover hysa, what i dont like though is the time it takes to transfer money from and to my Hysa discover account. If i create a discover checking account is the transfer speed between discover hysa and checking instant or faster?
Based on the transfer timeline I can see on my dashboard, going from Discover HYSA to Discover Cashback Debit (checking) ... and vice versa ... seems to be the same business day. Normally transfers to / from a HYSA account to another external account (i.e. different bank) take several days. Checking accounts seem to be faster.
@@MarkReese is capitol one hysa paired with capital one checking any faster than discover's. I just want to have that peace of mind that just in case of emergency i can easily tap on my savings.
So overall which one would you say is the best checking account? Thats what I wanted. I dont want to have 20 different bank accounts. My money is too young. I need the best one out of the ones in the video.
No. Per Discover, their cards are accepted at 99% of merchants nationwide that accept credit cards. However, that 1% could still be a good number of places that don't take it depending on where you live / the kind of places you shop at. It could also be a bigger issue internationally. Personally, I've only had 1 experience in the past 8 years when Discover wasn't taken within the U.S.
Hi - I don't recommend cards based on bank. Better to focus on cards that give you the rewards / benefits / value that you personally want. Watch this video for some guidance: ruclips.net/video/LWVjzwIRkK0/видео.html
@@elazotadordepiperos5299 - I'm not sure. For the savings account, their site shows the current rate of 4.2% on "all balance tiers" (i.e. no matter how much money you have in it, and regardless of if you have direct deposit set up. For the checking account (which is what they call "spend account"), my best guess as to what they mean by "make the most of your account" is that when you set up direct deposit, you can get paid up to 2 days earlier than typical.
dumb question here but don’t I get money every month to spend on everyday needs? I’m thinking about opening a bank account and not sure what is the best option
@@MarkReese I did had a bank account long ago that gave me money every month but no longer have it and right now I want to make another to get money until I’m able to make money
Is it for 'Rewards Checking Account'? If so, it's up to you. I personally avoided it for now since you can only pay Amex bills with it (i.e. there's no standard Bill Pay feature to pay all other bills). That should be coming at some point in the future.
You'll have to read the terms of the offer since each bank has their own rules. Look for something like Early Account Termination Fee. Do you have a link to the page where you signed up?
most online savings are fixed rates. So if interests go up you need to close your present account and open a new one with the higher rate. The newest way for bankers to steal. I personally could not work for such dishonest people.
Till this day idk why people still have shitty banks like chase,BofA,Wells Fargo like online banking is way better and it’s FREEE with better apy’s, No Feess
What about credit unions that are fdic. I’m older and don’t like going online to do any thing. I prefer person to person. Is ally only online? I getting outta BoA. Thank you.
Nothing wrong with credit unions; some may be very good and even better than some banks. Worthwhile to do some research to see which one may be a good fit for you. I don't cover them on the channel due to the requirements to join (which may include where you live, work, or the groups you're associated with), and my lack of experience using them. Yes, Ally is online only.
Milli 5.5% same transfer delay process but, no hoops like some others (must get a checking, hop on one foot 20 times a month, only on rainy days, while wearing pink shorts and etc).
I don't understand 'the bucket thing', it just seems so stupid and redundant. I mean for a 5 year old I can understand it, but for an adult it's pretty ridiculous.😂
It is used to keep track on saving for something specific instead of writing it down or keeping an excel spreadsheet. What is hard to understand about that?
'Buckets' would be especially great for any situation where you have more than one person paying bills out of the same account. Also a quick and easy tool for a single person who is on a tight budget, so without spending time on a spreadsheet or calculations he could quickly set aside set amounts for the big annual expenses, such as vacation, real estate tax/insurance, or unexpected expenses such as future car repair, new tires, new car, home roof or appliance breakdown fund, etc. I'm a bean-counting spreadsheeter but I can see an account with buckets would do the job quicker. Earmarking money for specific uses would be especially helpful if you have a spouse who doesn't know how to budget and thinks a big account balance means he/she can spend it. A friend of mine had a high IQ (Mensa) but was terribly stupid with money. Had a six-figure income and low living expenses living in his wife's inherited home, but never saved a dime and spent his income on stupid stuff or gave it to his irresponsible adult children as fast as it came in. Then when a big bill like the annual real estate tax or home & car insurances came due he couldn't come up with the money without using a home equity loan. If they would have had an account with 'buckets' ten years ago it would have helped him keep his mitts off money labeled "real estate tax" or "car insurance" or even "groceries" as he liked to eat.
🏦 SoFi Checking + Savings
markscreditcards.com/sofibanking
🏦 Ally Savings
markscreditcards.com/allysavings
🏦 Ally Money Market
www.ally.com/bank/money-market-account/
🏦 Ally Checking (“Ally Spending”)
www.ally.com/bank/interest-checking-account/
🏦 Capital One Savings
www.capitalone.com/bank/savings-accounts/online-performance-savings-account/
🏦 Capital One Checking
www.capitalone.com/bank/checking-accounts/online-checking-account/
🏦 Discover Savings
www.discover.com/online-banking/savings-account/
🏦 Discover Checking
www.discover.com/online-banking/checking-account/
🏦 Charles Schwab Checking (Schwab Investor Checking)
www.schwab.com/checking
🏦 Chase Checking
markscreditcards.com/chasechecking
------------
💳👇 VIEW CREDIT CARD OFFERS!
markscreditcards.com/offers
🛍 RAKUTEN - Earn More Cash Back!
markscreditcards.com/rakuten
Everyone should realize sure, you can probably get a higher rate with some random banks out there but I’d rather take a small hit (marginal when compared to other HYSAs) for good customer support and no weird introduction rates. All of these banks listed do HYSAs well, thanks Mark!
Yep I've had excellent experiences with all of them 🏆
This video is a goldmine of information for anyone looking to optimize their banking experience in 2024! The presenter's thorough analysis of high-yield savings and checking accounts makes it easy to understand the top options available. I appreciate the detailed breakdown of each account's features, benefits, and potential drawbacks, helping viewers make informed decisions about where to stash their cash. Thanks for the valuable insights! 💰🏦
Glad you found it helpful! 💯
Ally savings interest compounds daily and is deposited each month. Most savings accounts compound monthly.
Good point! 💰
Amex does too 👍
Unless you have $100K+, it's not much of a difference. Google search interest compounded daily monthly calculator to see for yourself.
I have discover, I have use the checking for all my bills, plus I have the savings account and credit card. Phenomenal bank indeed.
Great to hear you've been having a solid experience w/ Discover 💯
@@MarkReese I’ve following you for quite for time man. Thanks so much.
@@derrickgentle7174 I try to open and account but I'm from Italy and our taxpayer ID Is alphanumeric. I don't what to do
It's not the same type of account but I use the Fidelity cash management account as my checking account. All the same benefits as the others with a 2.72% apy.
Fidelity CMA is clutch, the brokerage account is excellent too the Gold debit card on the brokerage account is beautiful!
Looks like another great option! 💯
Open a brokerage and transfer your savings their into a government core holding, it pays 5% and it’s like cash
Blessings be upon you brother for this piece of info! Can Fidelity be used like a bank account? Does Zelle work with it?
@@OctoberB.-mr6fv It can be used as a bank account without issues they don’t support Zelle though just ACH transfers.
My emergency fund is in a high yield savings account with Synchrony Bank. I'm getting 4.75% APY
For a CC, you are very open which is refreshing 😀. New sub, now binge watching.
I appreciate that! Thank you & enjoy the binge 🎬
Great video Mark!!! When I was in Indonesia, my Schwab debit card seemed not to work with certain ATMs. In that case I used my capital one ATM debit and it worked(never had an issue with it with my multiple visits to Asia). C1 ATM in Indonesia for some reason had no ATM fees charges, C1 does not charge a foreign transaction fees. My experience with Discover basically did not work at all in Indonesia, debit or ATM.
Great data points, thanks! Likely a smart idea to research the destination prior to traveling to see what's accepted 💯
I have checking with all four of these, solid banks for sure their savings rates are excellent. I have accounts with the other three accept Citi for checking as well their rates are low low low. SoFi, C1, Ally would be my recommended choice Discover transfers are slow.
Great that you've got experience using a lot of these, too!
My discover transfers are not slow at all. I use them all except sofi and Citi. I do have a Citi credit card though
Can you make a video about leasing / financing a new car? . This is something i was never taught because i am first generation .i would like to know the difference , what they mean and which one benefits the buyer . Just a suggestion. I love your content.
Thanks for the suggestion, Ivan! I'll consider it, but it may be a better topic for the broader financial channel I just started called The Simple Dollar Show. Check it out here: www.youtube.com/@TheSimpleDollarShow
I'll add the 'lease vs. finance' topic to the future list 👍
You should ask for an Ally debit card replacement if you dont want the embossed card anymore, the new ones have the numbers in the back 👍 I have it myself and it's great
Love the new debit design I hope to get a credit card invitation in time!
Ah great to know, thanks! Those embossed cards take up more room in my wallet. Great that I can now downsize a bit 👊
Awesome to see 4.35% rates right now! Thanks, a much needed video!
You bet! The monthly interest payments are great 💯
4.35% but $15 for some fast food
Great job, keep it up! Informative and clear
Came in handy, thanks
Thanks! Glad it was helpful 🎬
Best video I've seen so far. He actually goes over the interfaces of the websites/apps and he actually chose the best banks for the average consumer.
Although I would replace SoFi with Alliant or Navy Fed.
Thank you! Do you use Alliant and/or Navy Fed yourself?
@@MarkReese Yes, I use both.
Thank you for the video I currently have SoFi and couldn't decide I currently bank with bank of Oklahoma so because of your video I will make the switch to my SoFi
Hi mark, thank you for.a well presented review of these accounts and highlighting the features of each. I have a C1 cafe not too far away, so that might be a good option.
Nice! Have you visited yet? I likde the concept when I visited the one in San Diego, CA 👍
@@MarkReese Not yet, but I plan to check it out.
Idk if anyone is on here anymore but I’m stuck between the Capital 360 performance and SoFi. Sofi is quick and easy. I’ve heard great things but I already have a CC with Capital and I love how accesible they are plus they have branches. Stuck between this choice
Going with C1 would allow you to have more products in 1 place.
Going with SoFi means you'd have your money in 1 place and your CC in another. No problem with that, just a slight inconvenience.
Why not go with both & try them out? Then close the one you don't want. I've found getting hands-on experience with different products helps me make decisions a lot easier.
@@MarkReese you’re right. Might just try that out! Thank you Mark!
I have been using c1 love it
I would never deal with Capital 360
@@josephmgomez3921why not
This was very helpful. Thanks!
You're welcome!
Love Ally. We also keep a local credit union. Business is with Chase.
🏆
New subscriber. Love the information. ❤
Glad to hear you enjoyed the info + thank you for subscribing! 🥇
Thank you for your quick response. I forwarded your vid to my young adults. God bless.
Glad to help!
Very good information thanks will go for capital one
Glad it helped! Enjoy the C1 account 💯 I've really liked using it.
I’m trying to choose a joint bank account between Capital One and Ally for my wife and I. Do you have a preference? Accessibility to ATMs is also a plus when having to withdraw cash.
Both will work well, but I'd go with Capital One because:
a. Adding a joint account owner is easier.
b. The online + app interface is better designed and a little simpler to use
c. The partner ATM network is a bit larger. You can learn more here: www.capitalone.com/bank/atm/
Thanks for the video! Mark! I recently opened up the Amex checking account. I had a sign up bonus as well.
Awesome!
Does it have bill pay yet for non-Amex bills?
@@MarkReese not in the app but you can make a transfer between bank accounts. The way I pay bills is by adding the Amex checking account as a payment method for my chase, capital one and BOA, Wells Fargo, Discover, and Barclays cards.
In the BOA app you can set up bill pay to be paid by outside banks just like the Amex checking.
@@MarkReese no it doesn’t. That I saw. You can transfer money to other banks. And pay off other cards by added it as a bank account
@@Mundus-vult-decipi - Thanks for letting me know 👍
Got the Alaska card last year with the 70k bonus and a $100 credit! So it was basically free for me during the first year. Also got the companion cards
Congrats! Great card + offer 💯
I use all of these banks. I keep Chase and Wells for cash deposits. (Who is still using cash? Poker player's, that’s who!) As a self employed person I’m not a fan of SoFi’s lame Direct Deposit requirements. But all these banks have their strengths. These work well with the Dave R. Strategies of money management. 👍
Great to hear! Big fan of Dave R's cash approach (I just add in credit card use, too) 🤙
I ❤ my C1 360 savings account. Plus i have several of their cc.
Glad to hear it!
I have 2 Question, I only have Wells Fargo and no other bank, I have had a few money problems where if I didn't authorize a charge I can dispute it. but I'm wondering if they can't dispute it. what can I do? and if my an other merchandise has my routing number and account (A contract), could my bank change the Routing and account number?
Those aren't topics I'm able to assist with.
capital one savings seems like a good option!
I like it!
Definitely c1
I like them also. Stay away from Fidelity bank
@@garybishop4030why ?
Great video Mark. Planning to move to SoFi, and was wondering how a bundled account works. Your explanation definitely cleared things up! Doesn’t SoFi have a $300 sign-up bonus running for new accounts that set up direct deposit?
That was the #1 mystery to me too for awhile! Glad the explanation clarified it for you.
Yes, a $300 welcome offer has been available. Actually, my SoFi referral link is showing a higher $325! Check it out here: markscreditcards.com/sofibanking
I've been liking the layout / interface and ease of use 👍
So be honest is SoFi better than discovery, checking and savings wise?
Currently using the Apple savings with 4.35% rate with no direct deposit requirement. However, Apple has no ATMs 😀 and there is no option to deposit directly into the savings account
A solid rate with the account though!
You should do a Bank Review between SoFi, Discover & Acorns Mighty Oak.
Thank you for the information... I was wanting to have a little diversity in my banking portfolio... But being in a small town our physical branches are limited -- and we all know each other - - I like to keep my financial business private.... I just opened an account through your link. I hoped that way you get a commission for it...
Glad you found the information helpful! Enjoy the new account & thank you for using the link!
I'm 17 and I just graduated and I'm about tog et a job but I'm having a hard time choosing a bank. My mom has been with chase since she was in her teens but she said she doesn't recommend it. Their service is horrible now. Is there any one bank I should join that I can make a savings account as well?
Any of the ones mentioned in the video are fine. I personally prefer Capital One.
Discover bank
Thank you for another informative video! What did you think about Synchrony Bank’s online high yield savings account? Their APYs are consistently competitive. Right now it’s 4.75%
It's an excellent rate! I can't comment on the Synchrony HYSA yet since I haven't tried it. Perhaps I need to 😁
My 2 HYSA's are Synchrony and Wealthfront....I like them alot for their ATM access.
How does the HYSA vs SA relate to taxes?
American Express checking account is at 1% APY and Western Alliance Bank High Yield Savings Account is offering 5.35% APY. There are way better options than the ones you mention in the video.
Great additions! This video isn't comprehensive. That said, Western Alliance doesn't look to be available nationwide. I'm focused on national accounts rather than regional.
Additionally, the Amex Rewards Checking account didn't launch will bill pay, which was a major deterrent for me. Has that been added yet?
@@MarkReese West. Alliance Bank is online banking only I would imagine anyone within the US could sign up for the account regardless of their location. By the way, I love your videos! I learn a lot
@@MarkReese No, unfortunately it still doesn't have bill pay.
No Amex hasn't added that feature and I am tired of not being able to use a billpay feature to pay my bills the with the Amex checking account. @@MarkReese
What are your thoughts on the acorns mighty oak card which allows you to get 5% savings account and 3% checking
Interesting card looks niche too, love the fact your signature is etched on the front of the card and tungsten card whoa card will last for life ha.
Haven't looked into it enough to comment on it yet ✌
@@shawn.credit are you on any social media man?
Thanks for this video. Really helpful. Was using WF 2 months ago and opened a SOFI account. Extremely happy with it. Kept WF for Zelle and emergency access to ATMs. Now wondering if I should move my funds in 3.65% AMEX HYSA to SOFI and create a Vault for it at 4.60%. 🤔
You're welcome! Glad to hear you're enjoying SoFi 💯
Discover card has zelle also with money back on there checking account
I wouldn't move from WF to SoFi
Have you ever used Wealthfront? Would love to see a video on them.
Not yet, but it's on my list!
I have Wealthfront HYSA and Amex checking account.
I have a Wealthfront account, and I like them so far
@@lakeshiacreates861 I'm keeping my Wealthfront account.
Great video! Tons of information. I recently got married and looking into a joint checking account. The wife currently has a checking account with Chase and I currently have a checking with First Horizon and we both have credit cards with Capital One. Which would you recommend us opening a joint checking with? Thanks!
Totally up to you. I currently prefer Capital One right now due to the ease of use / layout / functionality of the online portal and mobile app.
Hey Mark, just wondering but do you think C1 buying Discover will have an effect on if a customer has their savings with the 360 Performance Savings or vice versa if they had it with Discover Savings? Thanks for replies! Happy weekend!
At this point it's just speculation, so I don't know.
Is Ally made only for savings account? It doesn't show credit card option
Ally credit cards are invitation only at this time.
Soon don’t use banks due to family using my social as a kid so my credit is cooked! But my girl has Wells Fargo and has money in savings about 12k 8 years it’s been there and only made about 1 dollar and some change. I’m thinking of recommending her the sofi or ally just not sure if I’m making the right decision. She does direct deposit for everything.
Helpful video thanks for posting it
Glad to hear it! 💯
Thank you, you were very helpful!
You're welcome!
Can I apply for mortgage loan through Sofi? Since it doesn't have physical branches or can I only save up in there?
Yes. You can learn more here: www.sofi.com/home-loans/mortgage/
I hear sofi gives free credit scores. Is that with checking and savings account?
I'm not sure which account(s) you need to have in order to see the score. What I can say is that I have SoFi Checking + Savings accounts and I do see my credit score in the app on the Home tab.
My son just graduated college- looking to add a more robust bank account with easy online bill pay to automate things and apply for his own credit card. Currently has been using USAA checking (debit & Zelle), savings and is a cardholder on our credit card for emergencies. I like the simple look of Capital one. which do you think for this situation?
My vote is for Capital One, too. Fantastic interface, simple to use & find features, and I've experienced virtually no down time with the app / online portal. Also, very competitive rates on the savings account.
Hey mark I’m 21 I just closed my bank account with Wells Fargo so my job is making me wait 3 weeks bc that’s how long it takes to get my check in the mail all the way from my companies main base so I need help on deciding whether to get SoFi or discovery if I’m going to do a direct deposit, please help :)
Either one will work just fine 👍
FYI: SoFi is offering a welcome bonus from $50 - $325 depending on the size of the direct deposit. Here's my referral link to learn more about it: markscreditcards.com/sofibanking
The terms are at the bottom of the page.
Which HYSA do you prefer, capital one, or discover?
I like both. However, Capital One is my current favorite for the online / app interface.
Great video, I’m here looking for a checking account to pair with my Marcus high yield savings account
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I have the capital one savings account. I’m very happy with it👍
Glad to hear it!
I'll probably go with Capital One or Ally.
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I have Checking account with BofA and a checking account with Capital one. I want to open a Savings account in one of those two banks? Which one you recommend?
I prefer Capital One. Much better interest rate and better online / app experience.
@@MarkReese thank you Mark.
New subscriber! Great info. What is the best bank for Ira mutual fund account? Thanks
Welcome aboard & thank you! I wouldn't say there's "one" best one, but some top ones for opening an IRA include:
- Charles Schwab
- Vanguard
- Fidelity
I personally have my IRA with Vanguard.
@@MarkReese thanks I will look into it
I’m 17 and I just graduated and I’m about to get a job and go to college(nothing crazy) and I’m trying to figure out where I should start. Credit union or one of these listened?
Either can be fine. Compare the important things like:
- Monthly service fees
- Minimum deposit requirements
- Minimum account balance requirements
- Etc.
^ Ideally, all of those should be $0.
Thank you for these great recommendations. I am going to open a hysa with ally. I had a car loan with them in the past and it was good experience. I also like the savings bucket feature
Glad to hear your previous experience with Ally was good! Enjoy the new savings account 💯
Ally works with Zelle?
Yes it does!
what's the difference between checking vs saving account? i don't understand
Here's a helpful article that explains the differences: www.huntington.com/learn/saving/differences-between-checking-and-savings#:~:text=Checking%20accounts%20allow%20quick%20access,%2C%20home%20remodel%2C%20etc).
Will you receive a card when opening a capital one savings account?
When I opened my Capital One Savings account in 2019, Capital One sent an "ATM Card." Not sure if they still do.
This 2023 post from "Money" says it doesn't come with a card (read the section called 'Availability'): money.com/capital-one-360-performance-savings-high-yield-savings-accounts-review/#:~:text=Since%20Capital%20One%20savings%20accounts,time%20using%20the%20mobile%20app.
For Capital One, are you able to transfer cash rewards to the savings?
Not directly, but you can do so indirectly. The 2 cash back options I have on my C1 SavorOne Card are:
1. Credit This Card (i.e., a statement credit)
2. Mail a Check to My Address
^ You could choose the check option, and then deposit that check into your Savings account.
@@MarkReese thanks
I just turned 18 yesterday should i open multiple accounts with different banks??
No need. The focus is not on the # of accounts. Get what you want / need.
Great video
Thanks!
I can’t figure it out, was there any interest for a discover checking?
Nope.
As always, another great video! What do you think about AmEx checking account for both personal and business? Thx
For business...it's quite good and has been improving since launch.
For person...I can't comment on it as I haven't used it. The #1 reason I ran away fast though was the lack of a bill pay feature, at least when it launched. You could only pay Amex bills, which was hugely limiting. Not sure if that's still the case.
if depositing a cheque in checking account , which bank is faster to recieve money the next day ?
Not sure about that.
I have a discover hysa, what i dont like though is the time it takes to transfer money from and to my Hysa discover account. If i create a discover checking account is the transfer speed between discover hysa and checking instant or faster?
Based on the transfer timeline I can see on my dashboard, going from Discover HYSA to Discover Cashback Debit (checking) ... and vice versa ... seems to be the same business day.
Normally transfers to / from a HYSA account to another external account (i.e. different bank) take several days. Checking accounts seem to be faster.
@@MarkReese is capitol one hysa paired with capital one checking any faster than discover's. I just want to have that peace of mind that just in case of emergency i can easily tap on my savings.
So overall which one would you say is the best checking account? Thats what I wanted. I dont want to have 20 different bank accounts. My money is too young. I need the best one out of the ones in the video.
There isn't an objective answer that everyone will agree with. For me, it's Capital One 360 Checking.
Thank u. I trust u enough to look at them deeply. Thanks bro
Thanks!
You're welcome!
Is the discovery card accepted everywhere since it’s not VISA?
No. Per Discover, their cards are accepted at 99% of merchants nationwide that accept credit cards. However, that 1% could still be a good number of places that don't take it depending on where you live / the kind of places you shop at. It could also be a bigger issue internationally.
Personally, I've only had 1 experience in the past 8 years when Discover wasn't taken within the U.S.
Hello mark i want to get a credit card which bank do you recommend
Hi - I don't recommend cards based on bank. Better to focus on cards that give you the rewards / benefits / value that you personally want.
Watch this video for some guidance: ruclips.net/video/LWVjzwIRkK0/видео.html
Thank you, very helpful 👍🏾
You're welcome!
It has to be a direct deposit in order to get the higest APY in Ally bank?
Direct deposit is not required.
@@MarkReese thanks, in the official Page it says *"and set up direct deposit to make the most of your account."* what does than means?
@@elazotadordepiperos5299 - I'm not sure. For the savings account, their site shows the current rate of 4.2% on "all balance tiers" (i.e. no matter how much money you have in it, and regardless of if you have direct deposit set up.
For the checking account (which is what they call "spend account"), my best guess as to what they mean by "make the most of your account" is that when you set up direct deposit, you can get paid up to 2 days earlier than typical.
dumb question here but don’t I get money every month to spend on everyday needs? I’m thinking about opening a bank account and not sure what is the best option
I didn't understand the question. Could you please ask in a different way?
@@MarkReese do I get money every month from a checking account or a savings account?
@@egyptianwolfgod - If you're referring to earning interest, then the answer is yes & no. It depends on the account and the bank that offers it.
@@MarkReese I did had a bank account long ago that gave me money every month but no longer have it and right now I want to make another to get money until I’m able to make money
@@egyptianwolfgod - The savings accounts mentioned in the video allow you to earn interest.
There’s a bank inside some Walmarts. wood forest bank. I’d like to know your opinion plz. N thanks.
Hi Sara - I'm not able to comment on Woodforest National Bank as I'm unfamiliar with it.
I got offer a high yeild checking account for AMEX for 1%
Should I take it?
Is it for 'Rewards Checking Account'? If so, it's up to you. I personally avoided it for now since you can only pay Amex bills with it (i.e. there's no standard Bill Pay feature to pay all other bills). That should be coming at some point in the future.
I have opened a citi checking for sign-up bonus. When can I close this checking account without being charging back the bonus?
You'll have to read the terms of the offer since each bank has their own rules. Look for something like Early Account Termination Fee.
Do you have a link to the page where you signed up?
banking.citi.com/cbol/OM/checking/enhanced-direct-deposit-offer/default.htm?venue=GoogleBR&cmp=knc_acquire_2308_BAUCHK_Google_BR&gad_source=1&gclid=CjwKCAiAk9itBhASEiwA1my_6-Rrqfoq4I-U6dQ00vAZsCPCuY9t7GFkd8ZeAO1brrfNsq1jPlsvzBoCOeMQAvD_BwE&gclsrc=aw.ds&BT_TX=1&ProspectID=8124668B5FD44A63B17DE78A0ABC4E08. Thank you@@MarkReese
Oi Bruv, why didn’t you mention Lloyd’s of London?
This channel is mostly focused on U.S. based institutions.
Fees to withdraw from savings?
None that I'm aware of 👍
most online savings are fixed rates. So if interests go up you need to close your present account and open a new one with the higher rate. The newest way for bankers to steal. I personally could not work for such dishonest people.
With which banks have you experienced that? My rates have automatically adjusted up / down with Amex, Discover, Capital One, Ally, and SoFi.
Do you also get a card for ally savings?
Are you asking if Ally sends a physical ATM card if you only open a savings account?
@@MarkReese yes 🙂
@@anne9138 - Got it. In that case, no. Only Checking Accounts and Money Market Accounts are eligible to receive debit cards.
Reese man, when you opened a bank account with capital one. Did it help, you get an increase on your credit card❓
Not that I'm aware of. I haven't seen any data suggesting that it does or does not help.
Better just to use a credit Union mine gives 5 percent
Till this day idk why people still have shitty banks like chase,BofA,Wells Fargo like online banking is way better and it’s FREEE with better apy’s, No Feess
😁👍
What about credit unions that are fdic. I’m older and don’t like going online to do any thing. I prefer person to person. Is ally only online? I getting outta BoA. Thank you.
Nothing wrong with credit unions; some may be very good and even better than some banks. Worthwhile to do some research to see which one may be a good fit for you.
I don't cover them on the channel due to the requirements to join (which may include where you live, work, or the groups you're associated with), and my lack of experience using them.
Yes, Ally is online only.
Yes Sir! 👍
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It's ironic that the banks you don't recommend us to have has amazing credit cards
Haha yep!
"I have accounts with all these banks" damn
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Nothing tops UFB Direct
5.25% APY is incredible! Do you use UFB? If so, how's the experience?
@@MarkReese yeah I do it’s been good….$ takes a while to transfer is the biggest problem
Milli 5.5% same transfer delay process but, no hoops like some others (must get a checking, hop on one foot 20 times a month, only on rainy days, while wearing pink shorts and etc).
I also have UFB Direct Savings....I'm happy with it.
What is your most favorite?
Capital One 👍
It's like sponsor video
Maybe so, but this video isn't sponsored.
Comp contactar lo que an dado para contactarlo como que no funciona
No entendí la pregunta. Me la puedes hacer de otra manera?
Hi
Hey kazi1 👋
Bask bank is good
Did you get their Mileage Savings Account or their Interest Savings Account?
What about it do you like?
@@MarkReese just signed up this month and got their interest savings account, 5.1APY is a nice benefit. It’s my first savings account
Africa?
Only the U.S. market
i did no thank you them said but.
What do you mean?
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I don't understand 'the bucket thing', it just seems so stupid and redundant. I mean for a 5 year old I can understand it, but for an adult it's pretty ridiculous.😂
Some people like to set aside funds for specific purposes & see their progress against individual goals. Not for everyone though.
It is used to keep track on saving for something specific instead of writing it down or keeping an excel spreadsheet. What is hard to understand about that?
@i_am_unique1344 I understand that some 'adults' still play pokeman🤣
@@bonanzatimeand some adults are miserable and whine in comment sections on RUclips
'Buckets' would be especially great for any situation where you have more than one person paying bills out of the same account. Also a quick and easy tool for a single person who is on a tight budget, so without spending time on a spreadsheet or calculations he could quickly set aside set amounts for the big annual expenses, such as vacation, real estate tax/insurance, or unexpected expenses such as future car repair, new tires, new car, home roof or appliance breakdown fund, etc. I'm a bean-counting spreadsheeter but I can see an account with buckets would do the job quicker.
Earmarking money for specific uses would be especially helpful if you have a spouse who doesn't know how to budget and thinks a big account balance means he/she can spend it.
A friend of mine had a high IQ (Mensa) but was terribly stupid with money. Had a six-figure income and low living expenses living in his wife's inherited home, but never saved a dime and spent his income on stupid stuff or gave it to his irresponsible adult children as fast as it came in. Then when a big bill like the annual real estate tax or home & car insurances came due he couldn't come up with the money without using a home equity loan. If they would have had an account with 'buckets' ten years ago it would have helped him keep his mitts off money labeled "real estate tax" or "car insurance" or even "groceries" as he liked to eat.