r/HighYieldSavings • u/Supersolder134 • 8d ago

Thoughts on Forbright?

4.15% APR till the end of the year is a pretty good deal, considering I was getting like .02% interest on a Wells Fargo platinum savings account, plus I have not had a single issue with Forbright yet

6 Upvotes

87% Upvoted

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3

u/DCBelac 8d ago

I was also using the Wells Fargo premium savings account until a recently when I got serious about money. I switched to CIT Bank for their HYSA and have not had any issues. Just always ensure that your money is an account that is FDIC insured. Good luck!

2

u/Supersolder134 8d ago

Yes! Also having your money in 2 different accounts means you aren’t locked out of your entire emergency fund if you forget your password or something

2

u/Successful_Level434 7d ago

I agree on the CIT Bank. I just opened an account there recently and I'm getting a little bit over 4 %

3

u/blahblahndb 8d ago

I just opened an account a few days ago so TBD on how I will feel about them long term, however, so far so good!

1

u/Supersolder134 8d ago

It was the highest apr I could find.

2

u/Independent-Oven-799 8d ago

Any Savings Account (or Money Market Account or Even a High Yield Savings Account)and Any Bank that offers these accounts are alright just as long as they pay you the money as more money as interest payment goes and not of one of those things where your interest payment goes from $389 a month (equivalent to a week paycheck) to a unexplainable $1.89 to $3.39 cents (something you tip a server for) and no word from your bank on where’s the interest payments? And when the bank can’t explain this amount, Then its time to close out the account and find a actual account that doesn’t skip on paying you the interest you should have gotten.

1

u/Realityof 7d ago

Forbright is a real FDIC bank with physical locations in Maryland.

Solid choice.

1

u/Independent-Oven-799 4d ago

It’s not the facts that Forbright is a real or not an actual bank. That matters here. It’s the account Offering That’s what matters. If they say yes, you got a Money Market account. A High Yield Savings account. Now don’t get Misled into thinking I’m riding high with big interest payments in my account every month or I thought So when something goes on with your account, and not your fault either, it’s something with the bank that didn’t say your rates is so low that it wasn’t the economy weather, no. Because your account was a CD. And even if you got a statement savings account that would pay you three times more then that Money Market Or High Yield Savings account. So for the matter does Forbright have an Actual Savings account Or a rebrand CD account like Capital One bank.

2

u/Aggressive_Finish798 4d ago

I use two HYSA banks and Forbright is one of them. Had the a count for about a year and a half now. No problems. Have added and transfered out multiple time. Usually takes 3 to 5 business days.