@goldsheet said in Best Nationally Available High APY Liquid Accounts:
Here’s something completely different - FitnessBank
Your rate is based upon the number of daily steps in your fitness tracker.
3.00% APY 2.96% APR 12,500+ STEPS
2.50% APY 2.47% APR 10,000-12,499 STEPS
1.75% APY 1.74% APR 7,500-9,999 STEPS
https://www.fitnessbank.fit/
Can I put that thing on my neighbour’s dog?
Pure Point savings down to 2.00%
https://www.circsource.com/store/Subscribe.html?offerId=5419
You can subscribe for 3 years at that rate but after you pay, they offer a 4th year for the same price.
@craig10x said in Best Nationally Available High APY Liquid Accounts:
@atikovi
The program banks are covered by the fdic…therefore you are covered by the fdic…that’s how it works with sweep banks…
Not sure what they mean by sweep but ok. And FDIC insurance is not provided until the funds arrive at the program banks. So what happens in the interim?
Some of the fine print seems a bit sketchy,
Cash Account is offered by Wealthfront Brokerage LLC (“Wealthfront Brokerage”), a member of FINRA/SIPC. Neither Wealthfront Brokerage nor its affiliates is a bank. The cash balance in the Cash Account is swept to one or more banks (the “program banks”) where it earns a variable rate of interest and is eligible for FDIC insurance. FDIC insurance is not provided until the funds arrive at the program banks. FDIC insurance coverage is limited to $250,000 per qualified customer account per banking institution. Wealthfront Brokerage uses more than one program bank to ensure FDIC coverage of up to $1 million for your cash deposits. For more information on FDIC insurance coverage, please visit www.FDIC.gov. Customers are responsible for monitoring their total assets at each of the program banks to determine the extent of available FDIC insurance coverage in accordance with FDIC rules. The deposits at program banks are not covered by SIPC.
They aren’t a bank but take your money and put it into “program banks”? What happens if these banks fail? Does FDIC cover you or only Wealthfront? Quite a few banks already offer 2.50% savings, I don’t see any advantages here.