5 Best High Yield Savings Accounts in 2024
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- Опубликовано: 2 июл 2024
- Here are the 5 best online savings account (as well as more below). Click ‘Show More” to see my recommended money tools.
Additional Online Savings Accounts:
* Marcus: 4.5% rate (5.5% for 3 months with link). Unlimited withdrawals (as long as stay under 125k.)
* Discover- 4.35% rate. Limited at 6 withdrawals per month
* UFP Direct - 5.25% rate. I'm still testing this out, so I don't have any more info to share yet.
* Barclays - 4.35% rate. No limit on the number of withdrawals.
⬇️ RECOMMENDED TOOLS ⬇️
⭐ SoFi Banking: bit.ly/3thoNqY
⭐ SoFi Credit Card: bit.ly/3TPjzOc
⭐ Ally Savings: bit.ly/48nuPWt
⭐ Marcus Savings: bit.ly/marcusonlinesavings
⭐ Wealthfront Savings: bit.ly/41Mr8XG
⭐ Monarch Money: bit.ly/4aNmtsH
⭐ Tiller: tidd.ly/3t4p0Oa
⭐ Simplifi by Quicken:
⭐ EveryDollar: www.ramseysolutions.com/ramse...
FREEBIES
⭐ 101 Ways to Save $: bit.ly/tosavethousands
⭐ Money Saving Challenges: bit.ly/moneysavingschallenges
CASH BACK APPS
💵 Rakuten: bit.ly/rakutenaccount
💵 Ibotta: bit.ly/ibottaaccount
💵 Fetch: bit.ly/fetchcashback
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The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. 
Развлечения
What is your favorite online savings account?
Wealthfront has been really good. I like the ability to bucket items and I love their percentages. I got a boosted APY for about 6 months from referrals too.
Capital one
This is one of the tricks HYSA companies are doing. The comment below is from another HYSA member. If you have any problems with your HYSA company, you should post it online so other people can learn what to watch out for. We need to look out for each other. Thanks.
"Be aware if rates go up, they won’t automatically bump up your rate. I started the 1st HYSA acct then noticed a higher rate advertised later but my rate stayed the same. They simply renamed the newly rated product available to new customers/accts. So I just opened a new account with the higher rate and transferred the balance. Then it happened a second time. So I have 3 accounts, 2 empty and the newest. But if I didn’t happen to check periodically my money would have been sitting earning about a percent lower this whole time."
Hmmm....yes it's definitely a good idea to check the rates periodically. That being said, I think every HYSA I've ever used has automatically adjusted the rates in my account. I usually get a notification that my rate has changed, but I don't have to do anything.
I'd be curious to know what HYSA people have had that issue.
Thanks for sharing!
Hey Brittany, great video! I’m curious what you think of the SoFi budgeting app, I know it’s money tracking and not zero based but I prefer that and I’m currently using Mint. Is it similar to Mint?
Sure thing. SoFi offers Relay. It's great for tracking your net worth and credit score. It does import your transactions and categorizes them for you, but it isn't really a budgeting app. It will let you see where your money is going and compare it to the previous month...but it won't let you plan your budget. I don't really use it much, but if just seeing where your money went is what you want, then it would work find.
In regards to the vaults with the SoFi savings, just for clarification, will each vault recieve the 4.60% ? Great videos, thanks so much for your help!
I didn't do a great job explaining...you receive 4.6% on your entire balance, but it doesn't come as one deposit. For example: if you have 3 vaults, you'll get a deposit of 4.6% for whatever your balance is in each vault. IF you don't use any vaults, you'll get the 4.6% deposited into your savings account.
The only reason I even mention that, is that the other banks (like Ally or Wealthfront) that let you use buckets/categories similar to the vaults, only do 1 deposit each month. With sofi it's a smaller deposit into each vault.
I hope that makes sense.
very good information, please consider to use better microphone for future videos :)
Thanks for watching and commenting! I've been experimenting with a couple of different microphones and different audio in the video editing process - I haven't found what I'm looking for yet.
None of the options you highlighted has 5.5% interest. Did I miss something?
The Wealthfront account gives you 5.5% with the bonus. Marcus (an account mentioned in the description box) also gives 5.5% with their bonus
So its possible for me to use the wealthfront account as a checking account?
Yep- it’s like a checking and savings combined into one
Wealthfront and Ally seem to be similar minus the APY%. Am I missing something? Now I'm trying to decide between the 2 🤔
They are similar. The one difference that is major for me (but maybe not for everyone) is that you can set up auto transfers directly into your buckets for ally…and you can’t for Wealthfront. I’m still need to Wealthfront and testing it out. So far that’s the only major downfall for me
Does wealthfront offer a buckets feature like Ally? Are there any drawbacks?@@BrittanyFlammer
Is it ok to do sofi and have multiple sources of direct deposit with my employer or no? Is there a limit that needs to be reached?
It's okay if you have multiple sources of direct deposit. There is no minimum limit to qualify for the higher interest rate. However, if you want to qualify for the no-fee overdraft coverage, you need to have $1,000 deposited.
How come no one mentions Upgrade? 5.07% APY and 2% cashback if you pay with their debit card.
That’s a good question. I had never even heard of them and I’ve done quite a bit of research. Now that you mention them, I’ve just looked into it and it looks like a great account- I’ll have to try it out. Thanks!
Nice
Thanks!
Can you use these banks living in the USA ?
Yep- these all work in the us
I read somewhere that you need to deposit $3000 a month for SoFi to qualify for the 4.6% rate, is this false? (hoping)
If you sign up for a qualifying direct deposit (from your employer, not a PayPal/person to person type transfer) automatically get the 4.6 rate. Or, if you don’t have direct deposit, as long as you deposit $5,000 within 30 days you get the higher rate.
Do I have to pay taxes on interest earned ?
Hell Yeah 😂the best thing is if you’re making $400 a month then you probably would want to leave 16% to 20% behind each month to easily pay off Taxes at the end of the year
Yes - you will receive a 1099INT along with all your other tax documents. Any interest earned will count as income.
Hi Joseph,
This is confirmation that we received your request to stay notified of availability for opening an M1 High-Yield Savings Account.
You’ll be among the first to know when we are taking on new Savings clients, and we can’t wait to be part of your wealth-building journey.
In the meantime, please feel free to explore M1 with an M1 Invest Account.
Best regards,
M1 team
I have looked into M1, but haven't personally used them.
What’s your opinion for the moomoo 8.1% for new accounts?
8.1% is great, but it’s only a 3 month promotion…so I’d say choose whatever account has the best features for you. If it’s moomoo that’s great.
Can I live in Pakistan and save money in this bank and withdraw my savings and get profit?
You don’t have to live in the US, but you usually need a social security number (or an itin) to open an account.
@@BrittanyFlammer How much profit is made on this minimum amount and which account should I open because I want a good monthly profit sitting here and what is the security ITN number can you define it please.
Like it
I'm glad!
CIBC BANK ON CHICSGO!
Thanks for sharing. I haven't tried this account, but it looks good!