5 Best High Yield Savings Accounts in 2024

I read somewhere that you need to deposit $3000 a month for SoFi to qualify for the 4.6% rate, is this false? (hoping)

Can you use these banks living in the USA ?

Wealthfront and Ally seem to be similar minus the APY%. Am I missing something? Now I'm trying to decide between the 2 🤔

None of the options you highlighted has 5.5% interest. Did I miss something?

Do I have to pay taxes on interest earned ?

Can I live in Pakistan and save money in this bank and withdraw my savings and get profit?

So its possible for me to use the wealthfront account as a checking account?

Hey Brittany, great video! I’m curious what you think of the SoFi budgeting app, I know it’s money tracking and not zero based but I prefer that and I’m currently using Mint. Is it similar to Mint?

How come no one mentions Upgrade? 5.07% APY and 2% cashback if you pay with their debit card.

What’s your opinion for the moomoo 8.1% for new accounts?

In regards to the vaults with the SoFi savings, just for clarification, will each vault recieve the 4.60% ? Great videos, thanks so much for your help!

very good information, please consider to use better microphone for future videos :)

You may want to check out Jenius Bank. They are currently offering 5.25% on their savings account, compounded daily with no minimum balance and no fees.

Is it ok to do sofi and have multiple sources of direct deposit with my employer or no? Is there a limit that needs to be reached?

Hi Joseph,

This is confirmation that we received your request to stay notified of availability for opening an M1 High-Yield Savings Account.

You’ll be among the first to know when we are taking on new Savings clients, and we can’t wait to be part of your wealth-building journey.

In the meantime, please feel free to explore M1 with an M1 Invest Account.

Best regards,
M1 team

This is one of the tricks HYSA companies are doing. The comment below is from another HYSA member. If you have any problems with your HYSA company, you should post it online so other people can learn what to watch out for. We need to look out for each other. Thanks.

"Be aware if rates go up, they won’t automatically bump up your rate. I started the 1st HYSA acct then noticed a higher rate advertised later but my rate stayed the same. They simply renamed the newly rated product available to new customers/accts. So I just opened a new account with the higher rate and transferred the balance. Then it happened a second time. So I have 3 accounts, 2 empty and the newest. But if I didn’t happen to check periodically my money would have been sitting earning about a percent lower this whole time."

Nice

Like it

CIBC BANK ON CHICSGO!

How about Synchrony bank? If you have extra money, their CD rates are not bad. Their HYSA yield is reasonably high and good for parking money for any needed cash flow.

What is your favorite online savings account?