Best High Yield Saving account

[Anonymous]

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@Anonymous wrote:

I like MySavingsDirect. No gimmicks on giving you 2-5% interest on the first $25,000 like some banks and then it is market rate of .50% or something really low.  Easy transfer in and transfer out.

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How are you getting those rates from them? I'm seeing 1.25% APY on savings and up to 1.65% APY for a long term CD.

[Anonymous]

Helpful thread. Thanks!

[Imperfectfuture]

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@BigBS wrote:

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@Anonymous wrote:

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@BigBS wrote:

Lake Michigan Credit Union - 3%, if monthly requirements are met.  Haven't had any issues in over a year of banking with them.

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Transfering money between banks are available online for free? I checked their website, and the info is not that clear. Also, there are the following requirements:

Minimum of 10 debit card purchases per month;

Minimum of 4 logins to home banking per month...

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Yes, no cost transferring money between accounts and the debit transactions are pretty easy.  I just buy gift cards each month to satisfy the requirement. 

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Get better return on cash back cards.  Hence, I wouldn't waste the swipes on debit.  Of course, I put my rent on PayPal premium debit card, with 1.5% cash back, using RadPad.  My landlord, management company does not take cards.  The rent is a nice chunk of change, I transfer back to bank account every two or three months.

[Anonymous]

Good to know PayPal has debit account! Can they mail Bill Pay for your rent?

[Imperfectfuture]

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@Anonymous wrote:

Good to know PayPal has debit account! Can they mail Bill Pay for your rent?

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Use RadPad (google) combined with debit card.  Debit cards are free, currently.  PayPal has debit cards, but only premier or business accounts qualify for cash back (it is now 1%, and you need at least 1$ to redeem).  To get a premier account, need to sell some things on eBay.

[sillykitty1]

Consumers Credit Union - IL

3.09% - 5.09% APY (depending on how many hoops you're willing to jump through.

I've been with them for about a year now.  Not the most sophisticated operation, but getting 5% interest certainly makes it worth it!

[Anonymous]

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@Imperfectfuture wrote:

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@Anonymous wrote:

Good to know PayPal has debit account! Can they mail Bill Pay for your rent?

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Use RadPad (google) combined with debit card.  Debit cards are free, currently.  PayPal has debit cards, but only premier or business accounts qualify for cash back (it is now 1%, and you need at least 1$ to redeem).  To get a premier account, need to sell some things on eBay.

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I just tried to upgrade my personal PayPal account to the premier account, but it seems I am only allowed to upgrade to the business account. On the PayPal official website there is also only business account info available. Upon a detailed look, I found the business account can earn cash back for most online purchase and such. From your usage, is there any big difference between the premier account and the business account in terms of earning cach back on paying rent? Or, can I use the business account and the RadPal to have cash back for rent bill paying? Thanks in advance.

Besides, seems you have to have enough funding in the PayPal balance before using the debit card for paying off rent. I saw some discussions on using PayPal Smart Connect as a backup funding source to the debit account. But from the official website (https://www.paypal.com/selfhelp/article/FAQ1320), seems the Smart Connect cannot pay off negative balance and cash-advance. I am confused that can one use the PayPal Smart Connect as a funding source to ensure the debit card always has enough funding before paying the rent?

Edit: further reading through the policy at https://www.paypal.com/webapps/mpp/ua/useragreement-full?country.x=US&locale.x=en_US&viewType=popup#8 . Seems sending and receiving money is not free any more after PayPal break the relationship with eBay... Please confirm how do you make it work.