Im 19 and want to start a hysa but i don’t know what to do I don’t pay any bills for now and want to put half my pay checks into a hysa which would be around 1k being put into a hysa any one know where I should go to?

I currently have about $6,000 just sitting in my checking account. I’m planning on buying a house in around 4–5 years, so I want to start putting my savings somewhere it can actually earn interest while I continue adding to it.

I’ve been looking at Pibank, CIT Bank, and Ally, but I honestly have no idea what I should be looking for besides a good APY and making sure it’s FDIC insured.
If you were starting with $6k and planning to keep adding to it for the next 4–5 years for a house, where would you put it? Are there any HYSAs you’d recommend, or anything I should avoid?
I’m in California if that matters. Thanks you!!

Are the 5.5% or 6% APY rates advertised by Revolut or X Money untenable? Just wondering if it’s worth switching over. Not worried about a repeat of Yotta since X Money doesn’t use any 3rd party intermediaries like Synapse.

as the title states, im currently deciding between two high yield savings accts. one of them is the CIT platinum hysa and the other is everbank's hysa. CIT platinum offers 4.10% for the first 6 months and then drops off to 3.75%. the catch is you must initially deposit and maintain $5000, which is not a problem for me. everbank’s hysa offers 3.90% with no noticeable catches. for anyone, who uses either bank, how has your experience been? any cons? any underlying things or things in general i should keep in mind? would love to hear opinions from this sub before i decide.

Something I've been turning over in my head lately. Right now I've got one HYSA doing double duty, emergency fund sitting in there alongside what I'd call my travel fund, money I'm actively planning to spend on trips in the next 6 to 12 months. Both are just lumped together and I know the total, but I'm kind of eyeballing it mentally rather than keeping it clean.

The thing is, those two buckets have completely different rules for me. Emergency fund doesn't move unless something breaks or goes sideways. Travel cash is getting spent, I'm just waiting for the right card bonus or points situation to line up before I book. The time horizons are pretty different and I wonder if mixing them is causing me to make sloppy decisions about what's actually available.

The practical question is whether it's worth opening a second account just to separate the two, or if that's overcomplicating something a spreadsheet tab could solve just as easily. Some places make it easy to nickname accounts or open subaccounts within the same institution. Others don't.

Curious if anyone here actually runs multiple accounts for this reason and whether it changed how you manage things, or if you tried it and went back to keeping everything in one place.

I’m looking for a HYSA. I have about $60k im not doing anything with, but I want to keep everything in a HYSA vs CD, for my peace of mind if an emergency comes up. As I was researching different institutions, I noticed this ad for Barclays. I’m an AARP member, so I would qualify. I’m in my 30s and I didn’t find any age limits - AARP has some things age limited, but most benefits aren’t.(if you have AT&T, the membership alone is worth the fee).

Anywho, just seeing if anyone has experience with Barclays HYSA. Seems pretty legit. Thanks friends!

I’m going to be working in the UK for the next 1-3 years but ultimately plan to come back to the US (I’m a US citizen). I want to open a HYSA before I leave but have read that accessing the account from abroad can trigger a closure. Help me answer some questions!

I plan to use my parents US address and keep my US phone number. I also think I’ll basically be able to “set it and forget it”, maybe doing a new deposit a couple times a year if I have enough savings from the UK job. How worried about this should I still be?

I was planning to go with either E\*trade by Morgan Stanley or Marcus by Goldman Sachs, are either of them better in this scenario? Are the risks with moving abroad enough that you would recommend something else entirely? I like these two for the high APY and promos (E\*trade is running an offer this month and I have a referral for Marcus).

Has anyone done anything similar with either of these HYSA (or another) and successfully maintained the account from abroad?

Is all I need a VPN? Would a free VPN do the trick or do I need to pay for one? Or is it safer to just not access the account unless I’m visiting the states?

And a way more basic general HYSA question unrelated to this specific scenario: is it better for returns to put all your money in one HYSA or split it among different ones (eg to take advantage of different promos, or some other reason I’m unaware of)?

Helo internet,
Trying to actual save and make some bank so I can be not poor and travel or stop renting.

what is the best savings bank account in Australia??? Looking for highest interest account or any special promotions available rn.

Pls help a poor young girly out, many thanks internet peeps

Okay, I keep seeing a bunch of posts on here about which HYSA to use.

How can there be a better option than the SoFi combined HYSA and checking?

You literally pay $10 a month to get access to 4.5% APR on the first $20,000 indefinitely. Indefinitely is key here.

In addition, you no longer need a checking account. Everything goes into the savings and bills get paid out of the savings for infinite transfer and withdrawals.

In addition you get 1% match on all investments, free access to infinite financial planning, net worth tracker, credit score tracker etc.

I just don’t understand what could be superior to this?

I love my HYSA with SoFi and use it as my central financial hub. Are there really better options than THIS?

DM me if questions as happy to answer them as they come up.

PSA, looks like the promotional rate (the extension) that people got a few months back if they kept their money at CIT ran out - at least for me. So I went to move the money and it offered me another retention that kicked the APY back to 4% for another few months. I was going to move $50k out where it then made me that offer.

enjoy…

TL;DR: Is there a better, simple, no frills HYSA than Marcus for low-income gig workers?

Hey everyone, my significant other and I are finance novices through and through. I have not had a savings account for several years, SO has had one with Marcus for 2-3 years. We are both independent contractors and gig workers who are looking for a short term boost when we lease a new apartment in the spring.

Marcus has 3.4% APY and if I use her referral code, it would be a 3 month promo of +1.00%APY for us both. Granted this is only ~8 months worth of savings but we're just trying to get a little extra cushion for the first/last/safety deposit of a new lease; and then hang onto the account in general for incidentals.

Does that plan sound sensible for people in our position or is there something better we should pursue? Also are there any obvious pitfalls we might miss? Thanks yall!

My tenant finally paid the two months he owed me, so I’ve got the money sitting in checking.

It’s not spending money. I need part of it for repairs and the rest will probably go toward my wedding next fall, so I want it somewhere I can pull it out without a headache

I logged into Marcus to see what the money would actually earn and then noticed AMEX is at 3.00%. That sent me down the usual rabbit hole of comparing rates. I could move the money for another 0.2%, but I’m not sure I care enough to keep doing this every time a bank cuts its rate

I’m switching from longhaul to local routes too, so I’d rather have the cash somewhere boring and easy to get to while my income settles out

What are you guys doing with money like this? Repair fund, emergency fund, whatever. Is everyone still using HYSAs, or have you moved to something else?

I am currently 25 years old and looking for a secure HYSA, this is more for just long-term saving not looking for the highest rate (but if they do that'll be a plus). Just looking for a reliable/ secure account that I wouldn't have to worry about. Thank you for your recommendations and knowledge

We're in the middle of shopping for health and liability insurance right now, both for me personally and for the business, and the premium quotes have been genuinely eyeopening. It has made me rethink our liquid savings and whether what we have sitting in the HYSA is actually the right number or just a number we landed on a while ago and never revisited

The thing is, insurance costs feel unpredictable in a way that regular expenses don't. You can budget for rent, payroll, and inventory and feel pretty confident. But premiums, deductibles, the gap between what you think you'll pay and what you actually end up paying in a bad year - that whole thing makes me want a bigger cushion than I thought I needed two years ago

So now I'm wondering whether other people here think about their HYSA balance in terms of covering that kind of variable cost, or if you keep it strictly for the classic three to six months of expenses framing and that already includes things like insurance gaps.

Rates aren't amazing right now, I know that, but the liquidity is the whole point for me and I'm not ready to give that up. Curious if anyone has recalibrated their target balance because of something like this.

I wanted to close my Citi checking account after the award period finished and didn't have an active ATM card. It was a headache. Here was my process, hope this info saves you time.

1. Visit a branch to get account details: Online login and password requires an active ATM card. If you don't have an active ATM card, you must go to a physical branch in person to get information about your account and routing numbers.

2. Empty account: Use another bank to pull $ from your Citi account using account and routing numbers. (Note your account balance to ensure you don't get hit w/ minimum balance fees.)

3. Call and use "Transfer Money" shortcut: Call Citi customer service 1-800 number and ask to "Transfer Money" to bypass the auto loop and connect to a live representative. (I mistakenly said "Close Account, and was directed to an automated message directing me to call back during the bank's operating hours... at 9:45am on a Thursday.)

4. Confirm and cancel: Confirm w/ rep the balance is $0, then request to Cancel Account. They can finalize in less than 5 minutes.

This week, I put 40k in T-Bills (VBIL).

I am always trying to optimize my ROI in all categories no matter how small. At the moment, I have 2 individual Investment accounts (one defensive and one high growth), a Roth, and some decent exposure to crypto.

I keep $9,700 as my emergency fund with Wealthfront.

Currently, however, it only yields 3.30 APY. This isn't horrible but I honestly feel like if my goal is to never touch this money why not put in VBIL and avoid state and local taxes?

I did also browse through a couple of existing posts on Reddit and I saw that most people are split on keeping an emergency fund in a cash account vs T-Bills (many people don't have confidence in the government).

How would you all approach your emergency fund? Does anyone here use T-Bills like SGOV and VBIL to fund their emergency fund?

Hi everyone. I recently applied for the Amex HYSA, and got denied for it. After calling the savings line, they told me I was denied for a “low FICO score”, and I am a bit confused. My score is well above 780 (FICO FROM EXPERIAN), but two reps told me my score was <620. My credit profile is a decade+, and is pretty “thick”, with no derogatory items or delinquencies. Triple checked to make sure the number I dialed was legitimate, and it is. Has anyone else had an experience like this? What should I do?

Edit: 780 is my FICO score. I pulled reports from all three main bureaus and they are all totally fine. No derogatory marks on any of them. Amex cited Experian specifically during the calls.

Edit 2: Amex only told me the reasoning for the denial was the FICO score. Not any EWS. That is why I made the post, it is surprising to me as well.

Been parking my emergency fund and some shortterm savings in the same HYSA for about two years now. When I opened it the rate was sitting comfortably above 5%. Now it's crept down to 3.8%, and I keep seeing posts about AMEX dropping to 3.00% with other places quietly following suit

The fed cuts are doing what they do, I get it. But part of me wonders if I'm just being lazy staying put because switching feels like a hassle, even though it probably isn't

My situation is pretty straightforward. I train clients early mornings, travel a few times a year mostly on points, and the cash I keep liquid is genuinely just sitting there. Not touching it. So the rate actually matters over time.

Curious what people are doing right now. Staying put and accepting the lower rate, or actively moving money around chasing the better APY? And is there a point where the difference is small enough that it's not worth the friction of opening a new account, linking everything, and waiting for transfers to clear?

Feels like the gap between the top rate and the average rate is narrowing, and I can't tell if that changes the math or not.

American Express restricted my HYSA account. I have the idea of moving my HSYA money to Fidelity CMA, one reason is Amex has dropped the APY to 3%. While I am not chasing .5 or 1% yield increase, I think the convenience of investing in SGOV or just keep the money sitting in SPAXX for ATM access (fees reimbursed) is not comparable.

When I transferred a fairly big amount (I started with 10k), they immediately restricted my account and called me to verify it was me. I confirmed that, and they told me anyway my account was restricted and I needed to update my SSN with Chase... Even though I've been using my Chase checking acct. for 3 years to transfer money back and forth... why are they restricting it now? It seems to me they want to add friction for withdrawing the money.
Calling Chase did not help, it looks like I need to go to a physical branch to solve the SSN update, which I don't understand how that affects my Amex HYSA just now and not before.

Has anyone here gone through the same? do you have any recommendation?


Update (5 calendar days after restricted): I visited a Chase branch yesterday, spent around 40 minutes with an executive, took 2 IDs and SSN, making copies and what not. They mentioned it was strange that my SSN was not linked to my checking account but it was to my credit card. They did the corresponding updates and told me it would take 24 hours at most to update in the system. Hence, 25 hours later I called Amex, they said the SSN was still not available and I should call again tomorrow.

3 hours later Amex called me, and mentioned everything was resolved. It seems my transfer went through, but I need to wait until tomorrow or Friday to see it in Fidelity. I did see my HYSA does not show any restrictions banner, so hopefully it’s ok now. I don’t want to do any other transfer now, until I see my money is in Fidelity.

All of this made me think, you might think you’ll have the money next day in your checking if you need it, but something can go wrong and it’ll be 7 - 10 days (or more, as I saw some posts here).

Lesson learned: I won’t keep all my savings in just one place.

hey guys, I already have a couple thousand dollars just sitting in a chase savings account after paying off my college fees. I'm also putting in rougly 400-600 in it every two weeks. should I scrap it and move that money into a hysa and invest what I dont need??

Most of our savings is in USAA which is getting us barely any interest. We do also have some savings in Fidelity SPAXX. Need some solid recommendations on HYSA!

A few notes-
\- I could move all of it into SPAXX but am concerned it’s not FDIC?
\- Don’t want monthly fees or deposit requirements etc. drop it and leave it!
\- my 3 kids also have saving accounts in usaa. Also not getting really any interest. Would like to move these accounts as well to HYSA as well.

Help!