Best bank account for amount over $250K?

[JoshNurse]

What is the best bank account for an amount over $250K?

One with a nice app would be nice and a nice web interface.

Also the ability to do automated monthly transfers between my accounts.  A set it and forget it type account.

[vanillabean]

DW and I, while selling and later buying a house, used a joint account, thereby doubling the FDIC insured amount to $500K.

[disdreamin]

Agree with my-own-fico - that's the biggest thing, to just make sure it is fully insured for whatever the max amount you will have as a balance at any point in time. Any earnings are nice, but you mostly want to protect yourself from losing it! FWIW, I wouldn't park significant funds in a checking account long-term. No matter how good the account, it's a losing proposition from what I've seen, earnings-wise.

[Anonymous]

Like the posters above stated be sure to either add a spouse or beneficiaries to increase your FDIC coverage to the necessary limit. The best rates are at Synchrony and GE Cap. I don't personally have either so I can't expand on the online/mobile capabilities although I'm sure it is to par with the competition including auto-transfer. I personally have Cap1 360 and I enjoy the online banking, however, it's not the best rate available. For me I don't have large enough balance to work about a few bips, but it could be worth it to you.

[compassion101]

Check out Chase private client

[Anonymous]

I have a Boa rewards savings with currently almost 800,000 never had a problem

[pipeguy]

I have somewhat the same "problem" in as I'm settling an estate with a major asset closing in late July. The actual estate won't close (distribution) for at least 6 months after that, but I'll have just under 7 figures in cash to park. Cap-1 offers a saving account at 1.10%  which can have 6 "transfers" per month and since I have an estate checking account at Cap-1, it's a no brainer to gain over $5k in "interest" to the estate just by parking it in a Jumbo savings account.

Once the estate is distributed (part of it is mine), I'll probably leave some in a "jumbo" savings account which is an easy click to move funds between checking and savings. Not looking for a long term investment higher yield at this point, which is an altogether different thing. 

[Anonymous]

Very lucky estate haha I have been saving my money from 21 I'm 52 now

[VirtualCuriosity]

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@JoshNurse wrote:

What is the best bank account for an amount over $250K?

One with a nice app would be nice and a nice web interface.

Also the ability to do automated monthly transfers between my accounts.  A set it and forget it type account.

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Even though you dictate some specific criteria, it's way too vague to get a meaningful answer.  If it were me that was leaving that amount liquid, which I would never spend near 250k per year so it's hard for me to imagine stashing it in a regular bank account.  But, if so, I would want a physical branch not too far away and I would still refuse to bank with any mega bank that played in the sub-prime lending, mortgage crisis, bailouts, etc. years ago.  I know that's difficult to do but that's important to me.  I would be comfortable with my current banks, being Comerica and a local decent sized credit union.  

This will be interesting to see how your complete vetting turns out if this is only your surface questions.  Good luck to you.