Bask Bank savings account up to 4.15% APY.

@turtlebug said in Best Nationally Available High APY Liquid Accounts:

MySavingsDirect MySavings Account now at 4.35% APY with $1 minimum initial deposit. Available nationwide.

How much hassle is getting 0.10% more interest over banks with 4.25% APY worth it? I only have one personal checking account with Alliant that pays virtually nothing. I would have to ACH money to that account from one of my external accounts paying 4.00% and wait for it to clear Then transfer from Alliant to MSD and wait another few days to clear. All the while losing a bunch of interest along the way. Why can’t MSD take your funds from savings or MMA accounts? Why must it be a personal checking account? It’s like they are putting up this barrier so people don’t actually open up an account.

I just noticed MSD is a division of Emigrant Bank. So is Dollar Savings Direct. Why wouldn’t DSD match that rate?

@goldsheet said

Please keep in mind, while a third-party may make deposits into your MySavings account, they will not be permitted to make withdrawals out of the account.

Are you sure third-party is the same as ACH withdrawals

The current rate for Bask Interest Savings Accounts is 4.03% APY as of Tuesday, December 13, 2022.

@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?