Whether you prioritize no minimum balance or seek higher yields with slightly stricter requirements, there's a High-Yield Savings Account to match your needs. Don’t delay - you can open one of these accounts in less than a minute online.
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."
I personally don’t trust the ones so far out of state. They can be FDIC, but the inconvenience of having your money somewhere you don’t know what happened or the bank doesn’t know is a chance I don’t trust. And some of the little known banks with their only online banking?…… too risky for me, AND THEN the HYSA wants you to put five or ten thousand dollars to get that high yield. Just keep in mind what silicon Valley Bank did with people’s money and the inconvenience they went through. 😔😔😔
Great info. Really solid video production. Maybe slap a few acoustic panels on those walls to bring up the audio quality with the video and animation quality.
I'm new to these high yield savings accounts and am interested in opening an account. I was wondering if these accounts have limits or fees on the number of times you can transfer funds out to other checking accounts? I ask because I like to put majority of my income into a savings account and minimize the amount I have in my checking account (helps me spend less). But occasionally, I have to transfer funds from my savings account into my checking account for unforseen bills that come up. I would like to avoid getting charged extremely ridiculous fees if possible.
I think u should go over the bank fee policy. Some of these HYSA have to have a certain amount in them each month. You have to be VERY careful not to be overly generous with your money. 5+% is attractive, but just remember, they are BANKS, and banks are in the business of making money. 🤑🤑🤑
We recommend you do research to find out the interest rates and terms to decide which is the best for you and your situation! Unfortunately, each institution is different with their terms and limits, so you’ll want to look into each and decide!
This is just my personal experience/opinion - I use Ally, and you do have the ability to set up recurring automatic deposits from your checking/savings accounts into your HYSA. You can set it up weekly, biweekly, monthly, etc. Overall, I've been extremely satisfied with Ally so far.
Greay video, high-yield savings accounts offer enticing opportunities for savers. But with inflation on the rise, is it time to consider investing those savings for potentially higher returns?
For the long run yes, but kind of as she said in the beginning of the video, this is an option for those who don't want to wait. As of right now, high-yield APY's have been very steady but the investment side of things always fluctuates. In reality, it all just depends on the goals you have.
We do recommend having an emergency fund saved up and housed in a high yield savings account. This way, if any unexpected expenses come up, you can access these funds easily from your savings account. If your emergency fund is invested, it may not be as easy to pull it out, or it may result in fees/penalties depending on the investment account.
Dow Jones is a stock market index. We're Dow Janes because we teach women+ about personal finance. It's just a play on words; we're not claiming to be Dow Jones or trying to make people think we are 😊
Whether you prioritize no minimum balance or seek higher yields with slightly stricter requirements, there's a High-Yield Savings Account to match your needs.
Don’t delay - you can open one of these accounts in less than a minute online.
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."
Definitely a good idea to stay aware of rates and continue to advocate for yourself! Love the idea that we all need to look out for each other.
Thanks for the video! Are these smaller online banks safe to use? I’ve never heard of them.
Make sure they are FDIC secured.
I personally don’t trust the ones so far out of state. They can be FDIC, but the inconvenience of having your money somewhere you don’t know what happened or the bank doesn’t know is a chance I don’t trust. And some of the little known banks with their only online banking?…… too risky for me, AND THEN the HYSA wants you to put five or ten thousand dollars to get that high yield. Just keep in mind what silicon Valley Bank did with people’s money and the inconvenience they went through. 😔😔😔
Great info. Really solid video production. Maybe slap a few acoustic panels on those walls to bring up the audio quality with the video and animation quality.
Thanks so much! We’re glad you enjoyed the video, and we’ll look into the audio quality! :)
I've never heard of any of these. I'm assuming these are U.S. banks, correct?
I'm new to these high yield savings accounts and am interested in opening an account. I was wondering if these accounts have limits or fees on the number of times you can transfer funds out to other checking accounts?
I ask because I like to put majority of my income into a savings account and minimize the amount I have in my checking account (helps me spend less). But occasionally, I have to transfer funds from my savings account into my checking account for unforseen bills that come up. I would like to avoid getting charged extremely ridiculous fees if possible.
I think u should go over the bank fee policy. Some of these HYSA have to have a certain amount in them each month. You have to be VERY careful not to be overly generous with your money. 5+% is attractive, but just remember, they are BANKS, and banks are in the business of making money. 🤑🤑🤑
We recommend you do research to find out the interest rates and terms to decide which is the best for you and your situation! Unfortunately, each institution is different with their terms and limits, so you’ll want to look into each and decide!
who did the painting behind you pls?
I could not find a HYS account listed on poppy bank’s website… do you have links to these banks?
It's based in California. it is FDIC insured, google returned poppy.bank
Do you have similar recommendations for your Canadian viewers?
I've been using EQ bank, not as high interest but higher than traditional bank
TD Bank and others have GIC's at 5% or higher that's what I did with my TD account
I have been looking for a HYS account that has weekly or monthly automatic deposits. Do any of these that you mentioned have that option? thank you!
This is just my personal experience/opinion - I use Ally, and you do have the ability to set up recurring automatic deposits from your checking/savings accounts into your HYSA. You can set it up weekly, biweekly, monthly, etc. Overall, I've been extremely satisfied with Ally so far.
@@0wlyssa thank you!!
@@0wlyssadid you have any issues with withdrawing money or with the app interface?
Do you have any videos about treasury notes? Also is there way to leverage balance transfer cards with these accounts?
Greay video, high-yield savings accounts offer enticing opportunities for savers. But with inflation on the rise, is it time to consider investing those savings for potentially higher returns?
For the long run yes, but kind of as she said in the beginning of the video, this is an option for those who don't want to wait. As of right now, high-yield APY's have been very steady but the investment side of things always fluctuates. In reality, it all just depends on the goals you have.
We do recommend having an emergency fund saved up and housed in a high yield savings account. This way, if any unexpected expenses come up, you can access these funds easily from your savings account. If your emergency fund is invested, it may not be as easy to pull it out, or it may result in fees/penalties depending on the investment account.
If you live in a state with state income tax, consider Tbills. They are exempt from state income tax. Makes a difference at this interest level.
Is once a year you get paid your interest or once a month?
I believe it’s monthly, but I would check with the specific bank you are looking into.
Thank you! Are all of these banks FDIC-insured?
Everbanks website says they are FDIC-insured.
I have a credit card with FNBO, is there any advantage to opening a HYSA with them too?
We recommend you do research to find out the interest rates and terms to decide which is the best for you and your situation!
Thank you!
You're welcome! Thanks for being here!
Thank you very useful
Glad it was helpful!
Are these US banks
Why you never mention Wealthfront or SoFi?
Because it's the best/ sofi is trash
@@AnonDoge why sofi is trash?
Love the video.
Thank you! We’re so glad you enjoyed it. :)
What about Jenius bank
We recommend you do research to find out the interest rates and terms to decide which is the best for you and your situation!
Did anybody notice its
Dow Janes NOT
Dow Jones.
Sketchy to me!!!!!!!!!😮
Dow Jones is a stock market index. We're Dow Janes because we teach women+ about personal finance. It's just a play on words; we're not claiming to be Dow Jones or trying to make people think we are 😊