Parking Money

[Anonymous]

@ktl72455    Google - Doctor of Credit bank bonus...look for WF. 

[Ragdollkitty]

In working on a SUB bonus with Citibank.

I joined two of the CU's on the list: DCU and Service.  I liked merriwest but don't qualify for membership.

TMobile Money checking (run by BankMobile bank) pays 4% on the first $3k for TMobile customers that make a $200 each month. It's 1% for anything over $3k or for non TMobile customers or if one doesn't make the required deposit that month.  The 1% is good for a checking an sadly even Allaints rate has dropped below this so it's decent for parking savings.  The TMobile money rate was this structure when it was started in 2019, and it didn't stand out then, but it does now that rates are dropping all over.

I was looking at Patriot Bank Online MM and SFGI savings in late June which were at 1.40 and 1.36 respectively.  I went with Patriot bank and so far they have maintained the 1.40% rate. There are no monthly deposit requirements and no ACH fees.  In glad I didn't open with SFGI as they dropped to 1.16% 

[Revelate]

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@iced wrote:

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@RootDet wrote:

Hi,

I am wondering where everyone is parking money now that the alliant rates have dropped rates like a sack with a snake in it ...

I saw patelco gives halfway decent rate up to like 3k. Most of the decent rate places on DOC require checking, debit purchases, and more hoops then I want to go through for the bank to loan my money and make a profit well giving an excuse to pay a lower rate.

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Stocks. I keep a token amount in standard savings paying around 1% for emergencies and short-term (though right now that "token" amount is around $400,000 for an upcoming down payment on a house), but anything above and beyond that goes right into the stock market.

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+1.

I might even get my growth market buying opportunity again with California shutting down triggering a sell off.  Sucks in the short term (easy come easy go down now 10% in 2 days, but long term?  Will be fine.

[Anonymous]

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1 month in savings attached to my Schwab account, I used to park my E fund in Schwab's money (SWVXX) fund but its rate has dropped like a rock, had Alliant as well but then moved back to Ally after and bought a 1 year CD locking in 1% for the next year. Gonna stick with them from now, I hate moving money around.