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Valued Contributor
Dustink
Posts: 3,097
Registered: ‎10-02-2012

Re: Best high yield savings?

Thanks :smileyhappy:

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
New Member
DavidSalvador8100
Posts: 4
Registered: ‎10-17-2012

Re: Best high yield savings?

Ally Bank,

good one in this regard...the most important thing is that you can open with 0$....

Frequent Contributor
7PM789
Posts: 263
Registered: ‎08-20-2012

Re: Best high yield savings?

Ally - .95% no minimum Amex - .90% no minimum Discover - .80% $500.00 minimum All F.D.I.C. insured and no fees. (that I know of)
Amex B.C.E. - $2.5k - N.C.F.C.U.M.C. - $5k - Amex Gold - NPSL/35k P.O.T. - Discover More - $12k - Sam's Club M.C. - $10k -
Walmart M.C. - $7.5k - Citi T.Y.P. - $10k- Chase Freedom - $5k -
W.M.TU-776(Oct/14/) EQ-726(July/12) EX-782(Oct/14)
Audi, Vide, Tace. . .


Contributor
westcoastpirate
Posts: 78
Registered: ‎11-14-2012

Re: Best high yield savings?

I'm researching high yield savings accounts and had some questions.  I am planning on keeping a minimum balance in my current bank account to cover expenses, but keep the majority in a high yield account.  I am looking into Ally, and under fees it says $20 for outgoing wires.  Does this mean if I want to transfer money from my Ally account to my CU account, it would cost $20?

Senior Contributor
jsucool76
Posts: 3,884
Registered: ‎12-11-2011

Re: Best high yield savings?


westcoastpirate wrote:

I'm researching high yield savings accounts and had some questions.  I am planning on keeping a minimum balance in my current bank account to cover expenses, but keep the majority in a high yield account.  I am looking into Ally, and under fees it says $20 for outgoing wires.  Does this mean if I want to transfer money from my Ally account to my CU account, it would cost $20?


No. Transfers are free, WIRES cost $20. They operate differently. a transfer is (AFAIK) what is known as an ACH (Automated Clearing House). It usually takes 3-5 days for it to clear. a wire (once again, afaik) is instantly, which is where the cost comes in. 

 

I keep all of my money in my MMA with ally, and transfer into either my wells fargo or chase checking a lump sum once a month that will cover my CC bills since HYS and MMA are limited to 6 transactions (ATM doesn't count for money market) per month. 

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