@goldsheet said in Best Nationally Available High APY Liquid Accounts:
Customers Bank was 3.05%, now 4.05%
From their website, https://www.maxmyinterest.com/learn-more
Max costs 2 basis points (0.02%) per quarter, or $20 per $100,000 held in your savings accounts, subject to a minimum of $12 every 3 months. No other costs or fees.
Basically that means it has an annual charge of .08% with a minimum $48 service fee per year so that 4.05% is more like 3.97%.
Brilliant Bank MM will charge $5 for paper statements. Just got a phone call from them telling me this and than I can switch to free e-statements, which I did. She also mentioned there is a fee for ACH transfers originated through them. Not a big deal if you use another bank to transfer money in and out. I guess to get 4% they have to charge for stuff most banks do for free.
Upgrade Bank, as far as I can see, doesn’t return account verification trial deposits to the originating bank. For example, I linked Brilliant to Upgrade and Brilliant sent two micro deposits totaling 30 cents to Upgrade. Upgrade didn’t return that 30 cents so now it’s debited from my Brilliant account. Not a big deal, as it’s a deposit in my Upgrade account, just kind of odd. I have over $4 in micro deposits in Upgrade from a few other banks I linked and only Brilliant has clawed it back. Hmmm. Any way to monetize this activity?
Merchants has $5,000/day limit on ACH originated through them. Probably so people don’t suddenly take all their money out at once.
Anybody else open an Upgrade Premier Savings account? They have a line in their terms and conditions where if you ACH money into Upgrade from an external account, you can only take the money out within 60 days to that same external account. No big deal you think?
Well, I used my First Foundation savings account to ACH a decent amount into Upgrade. Went through just fine. Now when I want to take that money out, I get a message from First Foundation saying, This account has been suspended from the Funds Transfer Service. I called FF and they said the routing number Upgrade uses isn’t compatible with personal accounts, or something to that effect, I wasn’t too sure what they meant.
So I basically have to leave that money there for almost 2 months. While it might be a good dilemma to be in, earning 3.50%, but it seems a bit shady. I can probably ACH it from Upgrade to First Foundation, but Upgrade transfer limits are small. $10,000 every 7 days max.
@goldsheet said in Best Nationally Available High APY Liquid Accounts:
@jtownsucks46
I have so many banks ACH connected I need a spreadsheet to see which ones to use to either push or pull.
You ain’t the only one.
https://hosting.photobucket.com/images/d106/atikovi/bank_transfers.jpg
This is PW. Us cheap bastards don’t spend money on wires when ACH is free.
@jtownsucks46 said in Best Nationally Available High APY Liquid Accounts:
Yeah that doesn’t bother me. I use Alliant Credit Union as a hub account and they have 1 day ACH service. There’s also typically no hold on funds when you push them so I prefer to push anyway for this reason.
Does Alliant still have a $25K/day limit? That would be annoying to pull $250K from one account to push into Merchants. 20 days total to complete a transfer?
@jtownsucks46 said in Best Nationally Available High APY Liquid Accounts:
@goldsheet said in Best Nationally Available High APY Liquid Accounts:
To me Merchant’s Bank is still the golden goose!
If only you could originate ACH transfers, they would be perfect
@mtnagel said in Best Nationally Available High APY Liquid Accounts:
@atikovi said in Best Nationally Available High APY Liquid Accounts:
@goldsheet My head is dizzy transferring funds back and forth between all my banks the last month as they raise their rates.
Dollar Savings Direct has been raising their rates to maintain their claim of the “America’s Highest Rate” so I’d expect them to raise theirs to match Bask. So you could just put it there.
DSD has a lousy ACH transfer policy. You can’t use an external bank to transfer money out of your DSD account (and maybe in, too), and you can have only an external personal CHECKING account linked to your DSD account to transfer money initiated through DSD.
@goldsheet My head is dizzy transferring funds back and forth between all my banks the last month as they raise their rates.