Best High Yield Savings Accounts – up to 5.00% APY

September 20, 2024

Here’s a list of the best high interest savings accounts. Get up to 5.10% APY with a basic savings account. There are also accounts with requirements that pay even more. We don’t receive any commissions for any of these, and ALL banks are included in this list.

Contents

1 Best Basic Savings Rates
- 1.1 Other Basic Options
- 1.2 Alternative High-Yield Options
2 Best CD Rates
3 Best Business Savings Rates
4 Requirement High-Interest (Nationwide)
5 Requirement High-Interest (Regional)

Best Basic Savings Rates

Leaving money in a regular bank account will usually get you a terrible interest rate. With a little research, we can find accounts that offer competitive rates. These are all ordinary savings accounts with no hoops to jump through, and they are FDIC/NCUA insured up to $250,000.

Please verify insured status for yourself with FDIC and with NCUA before using a bank or credit union. Also please read this article about the FDIC insurance on fintech banks as well.

Here are the best options available, rated in APY from highest to lowest:

Roger – 4.65% savings (requires opening a checking account)(balances above $250k don’t earn interest)
Neighbors Bank – 4.60% savings
Patriot Bank – 4.40% money market
Timbr – 4.55% bold savings
Peak Bank – 4.54% Envision savings
Brio – 4.50% high yield savings (minimum $5,000 to open)
Poppy Bank – 4.50% premier savings ($25k monthly withdraw limit)
Presidential Bank – 4.50% Advantage Savings ($5k-$250k; requires checking)
TotalBank – 4.47% money market (balances $2,500-$500,000; not available in FL)
Climate First Bank – 4.46% money market ($50k minimum)
Newtek Bank – 4.45% savings
Vio Bank – 4.41% APY money market
First Foundation – 4.40% online savings
Brilliant – 4.40% surge money market ($1,000 minimum)
MyBankingDirect – 4.40% APY savings
Comenity ‘Bread’ – 4.40% APY savings
Zynlo – 4.40% money market
Openbank/Santander – 4.40% high yield savings (not available in CT, DE, MA, NH, NJ, NY, PA, RI)($180 Verizon Wireless bonus)
Bask – 4.35% savings account
Primis Bank – 4.35% APY savings (review)
Public – 4.35% high yield cash account
Zynlo – 4.35% savings ($100 bonus)
CFG Bank – 4.32% APY high-yield money market (must maintain minimum $1,000)
Western Alliance – 4.25% high yield savings (review)
EverBank (TIAA) – 4.30% APY Performance Savings (see this comment)
CIBC – 4.21% APY savings (minimum $1,000)
TAB Bank – 4.26% high yield savings
Republic Bank – 4.25% APY money market (minimum $2,500)(nationwide except IL, IN, WI, MI)
Redneck Bank / All America Bank – 4.25% APY money market, up to $100,000 (review)
Colorado Federal – 4.25% APY savings (4.45% > 50k)
Ivy Bank – 4.25% savings ($2,500 minimum; nationwide except for CA)
Merchants Bank – 4.25% APY money market
Forbright Bank – 4.25% savings
Evergreen Bank – 4.25% high yield online savings
VirtualBank – 4.25% APY eMoney Market
Fierce – 4.25% cash account (requires iOS app)($30 Swagbucks bonus)
Styl Bank – 4.25% APY (not accepting new customers)
Wings Financial CU – 4.25% platinum plus savings (new money only; 4.5% possible)
Quontic – 4.25% money market
Customers Bank – 4.23% savings ($25k minimum)(auto-adjusts with fed rate)
Jenius Bank – 4.20% savings
Primis Bank – 4.20% APY checking (review)
Flagstar – 4.20% savings (minimum $25k, guaranteed for 5 months, then it drops)
Live Oak Bank – 4.20% APY savings ($300 bonus)
Barclays – 4.15% tiers savings ($200 bonus)
Prime Alliance – 4.15% savings
Popular Direct – 4.10% APY savings (see this comment)
CIT Bank – 4.10% platinum savings ($5,000 minimum)
BMO Harris – 4.10% alto online savings (select markets)
NASB – 4.10% E-Savings (check incognito) ($10,000 minimum) (see this comment)
Upgrade – 4.02% APY everyday/premier/performance savings (minimum $1,000)(see this comment)
Salem Five Direct – 4.01% APY eone savings (see this comment)
UFB – 4.01% APY savings account (see this comment and this)
Synchrony – 4.00% APY savings (Paypal version here)
Western State Bank – 4.00% APY money market (our review)
Sallie Mae – 4.00% APY money market
Axos – 4.00% summit savings
E*Trade – 4.00% APY savings
Wealthfront – 4.00% APY cash account (signup bonus)
Northern Bank Direct – 4.00% APY premier money market
Betterment – 4.00% saving account (our review)(temporary .50% boost)
Dollar Savings Direct – 4.00% APY savings (see this comment)
PNC – 3.95% high-yield savings (select areas)
Wise – 3.92% interest feature
Apple Card/Goldman Sachs – 3.90% savings (our review)
Laurel Road – 3.80% high yield savings
Citibank – 3.80% APY savings (not available in all states) (our review)
Marcus Bank – 3.75% APY savings
Valley Direct – 3.75% APY savings (14,450 MyPoints signup bonus)
Empower/Personal Capital – 3.75% APY cash account (our review)
Webull – 3.75% cash management account
One Finance -3.75% savings ($5,000 minimum, $100,000 max)(review)
Affinity FCU – 3.75% smartstart savings
TradeUp – 3.72% Cash+ program ($100k minimum)
American Express – 3.70% APY savings account
Ally Bank – 3.60% APY savings or money market
Discover – 3.70% APY savings (review)
Capital One 360 – 3.60% APY savings
Lending Club Banking – 3.70% APY high yield savings (see below for 4.50% option)
Citizens Access – 3.70% APY savings account
Vanguard – 3.65% Cash Plus account
U.S. Bank – 3.50% Smartly Savings (minimum $25,000)
U.S. Bank – 3.50% elite money market (minimum $50,000)
Alliant Credit Union – 3.10% APY savings
PenFed – 3.00% APY premium savings
Blupeak – 2.75% money market ($300 bonus)
T-Mobile Money – 2.50% APY savings for anyone (4% on up to $3,000 for T-Mobile customers; our review)
Fidelity – 2.35% cash management account
Chime – 2.00% savings
American Express – 1.00% APY checking account (our review)

Other Basic Options

Raisin – see this post
Axos One – 4.66% with requirements
Lending Club – 4.40% Level Up Savings (requires $250 deposit prior month)(see this comment)
First Internet Bank – 4.69% money market with balances of $1M+
Farmers Insurance FCU – 4.50% 9 month no-penalty CD (membership via ACC)
Maxmyinterest – 4.05% max savings (see this review first)
Robinhood – 4.00% APY for those with Gold membership ($5/month; our review)
M1 Finance – 4.25% APY savings account (our review)
Morgan Stanley – 4.25% APY Preferred Savings Program
USAlliance – 4.15% 11-month no penalty CD
SoFi Savings – 3.80% with monthly direct deposit of any amount (our review)
Ally Bank – 4.00% 11-month no penalty CD (review)
Marcus – 3.90% APY 11-month no penalty CD
J.P. Morgan Premium Deposit – 3.80% ($100,000 minimum initial deposit)
Merrill Edge Preferred Deposit – 3.67% savings (initial opening needs $100,000)
Customers Bank – 2.00% APY checking (requires 2 bill payments, otherwise rate is 1%)

All of these rates will fluctuate over time, and we’re constantly updating this list. There is an advantage to a bank who has a proven track record of giving good interest rates since some of the top rates might be ‘bait-and-switch’ soon to be lowered. Banks like CFG, Discover, Marcus, Ally and some others have been known to offer competitive interest rates for many years. Their rates will also fluctuate but will likely always be a good rate. See also What’s The Best Simple High-Yield Savings Account?

Another thing to keep in mind is that while most banks automatically increase your rate as interest rates increase, some don’t. We wrote data points on which do and which don’t here. Keep that in mind when choosing a bank.

Most of these are savings accounts, with a few checking accounts mixed in. We wrote about options for getting a high yield on your checking account in this post.

Alternative High-Yield Options

Government Series I Bonds are currently offering 4.30%, you’re limiting to purchasing $10,000 annually (our review)
U.S. Treasury Bills (our review)
Brokerage Money market funds and Bond funds
U.S. Series EE Bonds
CD Annuities
Vanguard VMFXX – 4.33% (more options)
Fidelity SPAXX – 4.06% (more options)
Schwab SNVXX – 4.10% (more options)
SGOV etf treasury fund
Interactive Brokers – 3.83% for IBKR Pro (minimum $100,000 balance)

Best CD Rates

Nationwide CD Offers:

11 Months or Less

12-18 Months

Schwab up to 4.50% APY brokered CD 6-months (review)
Vanguard up to 4.55% APY brokered CD 6-months (review)
Fidelity up to 4.55% APY brokered CD 6-months (review)
Merchants Bank 4.86% flex CD 12/24/36 month (rate changes, tied to fed rate) (our review)

Mountain America CU 5.00% 18-month CD (join with $5 ACC donation)
Clear Path FCU 5.00% 13-month CD (join with $5 donation)
Eagle Bank 4.60% 12-month CD (not in CA, NV, or VT)
Langley 4.50% 15-month CD
Marcus Bank 4.50% APY 14-month CD
Colorado Federal 4.40% APY 12-month CD
CFG 4.35% APY 12-month CD
Live Oak Bank 4.30% 12-month CD
NexBank 4.27% 12-month CD (minimum $25,000)
State Bank of Texas 4.25% APY 12-month CD (minimum $50,000) (our review)
Bask Bank 4.25% 12-month CD
Limelight 4.25% 12-month CD
CFG 4.25% APY 12-month CD
USAlliance 4.25% 12-month CD
CIBC 4.21% 12-month CD
First Internet Bank 4.20% APY 12-month CD
NASA FCU 4.19% APY 15-month CD (review)
My eBanc 4.15% 18-month CD (review)
Comenity ‘Bread’ 4.10% APY 12-month CD
Alliant 4.10% 12-month CD (4.15% with $75,000)
Seattle Bank 4.10% APY 12-month CD
Sallie Mae 4.05% 13-month CD
Citizens Bank 4.00% APY 12-month CD
Discover 4.00% APY 12-month CD
Alliant 3.80% 18-month CD

19+ Months

Best Business Savings Rates

Republic – 4.75% money market ($2,500 – $250k; see this comment)
NBKC Bank – up to 4.25% business CD
Axos Bank – 4.01% business premium savings ($375 bonus)
U.S. Bank – 4.00% business money market (minimum $25k)
Primis – 4.00% business savings
Forbright – 3.15%/3.90%/4.00% savings/MM/CD
Wise business – 3.92%
Bluevine – 3.70% APY business checking (requires $100k and $5k spend to waive fee)
Bluevine – 3.70% APY business checking (requires $100k and $5k spend to waive $95 fee)
U.S. Senate FCU (USSFCU) 3.65% APY 24-month business CD (join with ACC membership free)
Live Oak Bank – 3.50% business savings
TAB Bank – 3.50% money market
[CT, MA, RI, PA] Owners Bank – between 3.50% and 5.01%
Newtek Bank – 3.50% business savings
First Internet Bank – 3.40% APY money market
First Internet Bank – 3.25% APY money market savings ($4,000 minimum to waive fee)
Credit Karma – 3.00% savings for Quickbooks customers
Lending Club Banking 2.50% APY business savings (review)
Panacea/Primis – 2.50% business savings
NBKC Bank – 2.00% business money market
American Express Business – 1.30% APY checking account (up to $500,000; plus 30k bonus)
Paramount Bank – 1.10% business money market ($5,000 minimum to avoid fee)
Axos Bank – 1.01% APY business checking (up to $50,000)
Lending Club Banking – 1.00% APY tailored checking (review)
Newtek Bank – 1.00% business checking

Requirement High-Interest (Nationwide)

Aside from basic accounts offering competitive interest rates, there are ultra high-yield options which are more involved and take time and patience to deal with. Bear in mind, all of the best options have velocity limits, sometimes it’s $5k, $10k, $15k, or $20k. You’ll never be netting more than $1,000 in annual interest from any of these accounts, and it’s usually much less than that. Someone who is impatient or doesn’t have spare time would best use a standard high-interest savings account options and forget about the velocity-limited accounts.

Below you’ll find all mega high interest accounts which are available nationwide, and in the next segment we list the regional options.

More Restrictive Options:

Requirement High-Interest (Regional)

Below are the regional accounts we’ve reviewed on the site. There are many more as well.

Parts of Nebraska, Iowa: Metro CU 6.00% 13-month CD
Texas, Oklahoma: Union Square Credit Union 3.50% APY On Balances Up To $25,000
North Carolina, South Carolina, Virginia, Georgia, Tennessee: Truliant FCU 6.25% CD
Louisiana, Arkansas: CNext Bank 7.00% APY Checking Account On Up To $30,000
Ohio: Buckeye State Bank 5% APY On Balances Up To $15,000
Iowa: Advantage Credit Union 6% APY 12 Month CD
Parts of Texas: Keystone 5.50% on up to $50,000
Texas, Mississippi, Louisiana: Origin Bank Performance Checking: 5% APY, Balances Up To $40,000
Texas, Nevada, Michigan: InTouch Credit Union High Yield Checking Account – 6.17% APY On Balances Up To $30,000
Iowa, Nebraska, Minnesota, South Dakota: Iowa State Bank 3.25% APY on up to $25k
Arkansas, Indiana, Nevada, North Carolina, Ohio, Michigan: United Federal Credit Union: Ultra Checking Account – Earn 3% APY On Balances Up To $15,000
Maryland, Delaware: Destinations Credit Union: 3% Reward Checking Account, Up to $10,000
Wisconsin, Illinois: Landmark Credit Union 7.50% APY High Rate – Balances Of Up To $500
Virginia, North Carolina: Beacon Credit Union 5.05% APY On Balances Up To $2,500
Wyoming, Nebraska: Meridian Trust Federal Credit Union 3% APY On Balances Up To $15,000
Illinois, Iowa: South East National Bank 3% APY On Balances Up o $10,000
Arkansas, Mississippi: First Financial Bank 4.33% APY on Balances Up To $15,000 – Direct Deposit Not Required
Parts of Arizona, California: Meriwest Credit Union 2.50% savings account on up to $5k [must be opened within 30 days of joining]
Arizona Branches: Sunwest Credit Union 5.12% APY 12-Month CD (Unlimited)

Maryland: Freedom Financial Credit Union 3% APY on balances up to $10,000
Michigan: First United Credit Union 4% APY + $50 Bonus ($10,000 Limit)
Michigan: Consumers Credit Union 4% APY
Michigan (nationwide?): Chief Financial Credit Union 5.00% APY – No Direct Deposit Required
Michigan: Arbor Financial CU 4% Checking On Balances Up To $15,000
Michigan: Financial Plus Credit Union 4.15% APY On Balances Up To $10,000
Michigan: Adventure Credit Union – 4% APY On Balances Up To $10,000
Michigan: Kellogg Community Credit Union 4% APY Checking Account On Balances Up To $15,000
Michigan: AAA High-Yield Checking – 2.85% On Balances Up To $10,000
Michigan: Dort Federal Credit Union 6.5% APY On Balances Up To $10,000
Minnesota: St Paul Federal Credit Union 4.99% On Balances Up To $20,000
Missouri: Legacy Bank & Trust i-Profit 4% APY on Up To $10,000
Missouri: Ozark Bank 3% APY Checking on Balances up to $10,000
Missouri: Hawthorn Bank 3.01% APY On Balances Up To $30,000
Nebraska: Liberty First Credit Union 3% APY On Balances Up To $30,000
In parts of New York: Solvay Bank 4% APY Checking on Balances up to $15,000
New York: Apple Bank Youth (6-17) Savings Account: 3% APY On Balances Up To $10,000
Ohio: Bridge Credit Union 10% APY Account On Balances Up To $1,500 (Lots Of Monthly Requirements)
Oregon: Oregon Community Credit Union (OCCU) – 5.25% APY On Balances Up To $500 Ignite Savings Account
Parts of Oregon: Trailhead Credit Union 5% APY on up to 15k in Kasasa checking + another 15k in linked Kasasa saver ($30K total)
South Dakota: Reliabank Ultimate Checking – 3.51% APY On Balances Up To $25,000 – Direct Deposit Not Required
El Paso, Texas only: Evolve FCU Rewards ePriority Checking Account – 3% APY On Balances Up To $10,000
Texas: Neighborhood Credit Union 4.25% APY On Balances Up To $50,000 + $200 Bonus
parts of Texas: Education Credit Union 5.00% APY on up to $50,000
Washington, parts of Oregon: IQ Credit Union 5.50% APY on up to $25k
Washington, parts of Oregon: Columbia Credit Union 5.5% APY up to $25k checking
Washington: WECU Credit Union 8% APY up to $5K checking + 6% on up to 2.5K in Stash savings
Washington: STCU 5.09% APY on balances up to $500 with no requirements
Washington: Canopy Credit Union offering 4.00% APY on first $25k
Washington, Oregon, Idaho: Gesa 3.00% APY on $500 in Savings (no requirements) and $5,000 Checking (requirements) (our review)
Wyoming: WyHy FCU 3% APY SmartReturns Checking Account On Balances Up To $15,000 – Direct Deposit Not Required

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20.6K Comments

newest

oldest most voted

Chris B (@guest_2047059)

April 20, 2025 16:36

#2047059

Patriot Bank MM is now APY 4.255%

Erik (@guest_2046754)

April 19, 2025 18:08

#2046754

Did anyone open the Axos One account?

Option 1 requires a daily average balance of $1,500. That means that the account has to be funded with $1,500 on the application day to earn interest for that month.

Customer service claims that I can fund with more on day two and calculate an average until the end of month (25th in their case). However, that would be a monthly average, not a daily average.
Customer service didn’t understand when I tried to explain the difference…..

Eric 🔗 (@guest_2046756)

April 19, 2025 18:12

#2046756

Erik

I just checked the offer. They use the term “average daily balance”. I think that you are confusing “average daily balance” with “minimum daily balance”. With the former, the rep is correct that you can make up for the difference after the 1st day of having $0.

Pickle Rick🔗 (@guest_2046766)

April 19, 2025 18:42

#2046766

Erik

“Monthly average balance” assumes statement periods that follow calendar months. The “average daily balance” is the “average of the end of day balances for the statement period”, but that is overly wordy. Industry practice is just to call this the average daily balance.

Banks don’t calculate a “daily average” as an average of a single day’s balance (as you seem to infer) because transactions post at the end of each day. That type of “daily average”, for any given day, would be the same as its end of day balance, which would then just make the requirement a minimum balance.

Erik (@guest_2046769)

April 19, 2025 18:50

#2046769

Pickle Rick🔗

Pickle Rick🔗 ,
So does that mean that the balance must be $1,500 at the end of each day or that average of the statement period is $1,500/day (like customer service and Eric stated)?

Pickle Rick🔗 (@guest_2046777)

April 19, 2025 19:04

#2046777

Erik

The latter.

A required balance of $1.5k at the end of each day is just a minimum balance requirement.

The average daily balance is just the average of end of day balances for the statement period.

midas89 (@guest_2046453)

April 19, 2025 01:16

#2046453

OnPath Credit Union has their Elite Money Market Account paying 5.00% APY. $25,000 minimum of new money must be deposited, and $25,000 minimum balance must be maintained to earn the interest. Anyone can join this credit union. (I know this posting is gonna be quite long, but I might as well try to answer in advance possible questions that would otherwise be asked.)

Some possibly important things to consider. You are only permitted 3 free withdrawals per month from the Elite Money Market account. After those 3, they charge $10 per.

OnPath will run your ChexSystems report.

If you open up the Elite Money Market account, there is no direct account number assigned to this account. So, you cannot directly ACH into or out of this account, initiated at your external banks. You are required to open up their regular savings account as well when you sign up. You can ACH to and from this regular savings account via your external banks, thus you’d have to do internal transfers each time utilizing the regular savings account each time. But, you need to read the following if you have an external bank that does not offer the microdeposits option for linking.

You cannot do direct Plaid linking to either the regular savings account or, of course, to the Elite MM account. So, if you have an external account that does not utilize the microdeposits option for linking, you cannot link to Onpath regular savings or Elite MM via Plaid. There is a way to get around this by also opening up an Onpath checking account, which would mean you now have 3 total OnPath accounts. Direct Plaid linking can see the checking account, and once linked, you would be able to ACH in and out to/from Checking, and then do the internal OnPath transfers.

And finally, now that the Onpath Elite MM account has been listed here and elsewhere, it is unlikely the rate will remain 5% for long should they be inundated with new money, just like the Roger 5% rate dropped to 4.65% after they got inundated with new money once news of that account spread online. By the way, Onpath recently had a rate drop from 5.25% down to 5%. Oh, and Neighbors Bank was 4.75% until news about them hit many sites not long ago. They dropped down to 4.60% after being inundated with new money.

They charge $10 to receive wire transfers, but you have to wire directly to either regular savings or to checking. Since Elite MM has no account number, you cannot write to it.

They offer Zelle, but you have to wait 60 days before you can even register for Zelle at OnPath. And once you are able, the limits are tiny.

ACH transfer limits if initiating at OnPath:

Per transaction Internal/External Limit (Outbound): $1,000
Per transaction External/Internal Limit (Inbound): $1,000

Daily Internal/External Limit (Outbound): $2,500
Daily External/Internal Limit (Inbound): $2,500

28 Day Internal/External Limit (Outbound): $5,000
28 Day External/Internal Limit (Inbound): $5,000

BenW (@guest_2046495)

April 19, 2025 04:12

#2046495

midas89

What is transfer limits between onpath checking account and Elit Money Market account? Suppose there is $250K in EMM account, can I transfer $250K to onpath checking account immediately?

midas89 (@guest_2046810)

April 19, 2025 20:50

#2046810

BenW

BenW There is no internal transfer limit between the OnPath Credit Union checking account and the Elite Money Market account. Yes, if you have $250K in Elite and initiate an internal transfer to your checking, that money shows up in the checking account immediately. (Keep in mind that the only-3-free-withdrawals-monthly-Elite-policy still applies even if it is an internal transfer between OnPath accounts. Anything over 3 withdrawals from Elite will incur a $10 fee.)

Terp (@guest_2046560)

April 19, 2025 09:45

#2046560

midas89

Very nice write-up. Thank you midas89.

If I magically owned a bank one day — I might design the HYSA to have similar features to what is described. Those measures have features that could reduce fraud, minimize transaction costs, and minimize ‘hot money.’ And I did actually work in banking operations / commercial lending eons ago.

But as a consumer, with all the banking hoops to jump through, I’d only go there if the rate is superior. And… 5% is superior.

midas89 (@guest_2046729)

April 19, 2025 17:21

#2046729

Terp

Terp Thank you for the compliment.

By the way, I like that you think big, where you expressed that perhaps magically one day you’ll own a bank. Me personally, I continue to think small, where perhaps magically one day, my piggy bank will be so big, it’ll have tellers. 😀

Erik (@guest_2046690)

April 19, 2025 15:05

#2046690

midas89

midas89,
Their website (https://www.beonpath.org/spend-save/personal/savings-accounts#money-market) states:
“Earn 5.00% APY* on balances over $25,000“,
but in the footnote:

“*APY = Annual Percentage Yield. The 5.00% APY on an Elite Money Market Savings Account applies only to new money with balances of $25,000 or more”

It appears that the footnote clarifies that the 5% applies to the whole balance and not only to the balance above $25,000?

When applying, they state again that “FUNDS MUST BE NEW MONEY”. What do they mean by that? Can we transfer into the Savings and then from Savings to the Elite MM? That would not be new money.. Do all future deposit have to be “NEW MONEY”? If we move money from MM to Savings and then back, I guess that would not be new money…?

Do you have an account with them yourself?
Do you know if they are sensitive to the number of ChexSystems inquiries?
Do they allow credit card funding?

P.s. Thanks for posting this info!

Eric 🔗 (@guest_2046692)

April 19, 2025 15:10

#2046692

Erik

Erik,

I’ll let midas89 answer most of your questions as I do not have that account. However, I will give you some info that I am aware of.

OnPath does pull Chex. AFAIK, they are not Chex-sensitive.

Most importantly, there is a post on DoC about a different OnPath account that you may not be aware of that I use. It is for a 7% APY Checking account on up to $10K in funds. There is also a referral offer ($100 for each party) available for signing up for that account.

Here is the post for that offer: https://www.doctorofcredit.com/onpath-credit-union-kasasa-checking-100-referral-for-each-plus-7-on-up-to-10000/.

Erik (@guest_2046730)

April 19, 2025 17:21

#2046730

Eric 🔗

Eric 🔗,
Is it possible to use a referral link for the 7% Rewards Checking Account and apply for other accounts (e,g. the Elite MM) at the same time? I may get two Chex inquiries otherwise if I apply separately…(?)

Eric 🔗 (@guest_2046733)

April 19, 2025 17:35

#2046733

Erik

Erik,

I don’t see why not. You 1st would sign up through someone’s RL referral link. You then could apply for both the 7% Checking account and the 5% account that midas89 mentioned at the same time.

If for some reason the app only lets you open 1 account at a time, you could apply for the 2nd account right after the 1st in 2 separate apps. That way if there are 2 Chex inquiries, there’s a good chance that they would automatically combine a few days later.

midas89 (@guest_2046735)

April 19, 2025 17:39

#2046735

Erik

Erik I have no idea regarding a referral link for the 7% Rewards Checking Account, but I can offer the following in the unlikely event you’re unable to add the Elite MM account at the same time, which you really should be able to do:

If you are only able to first apply and the get the 7% APY Rewards Checking Account for balances up to $10K, they will pull Chex, as I mentioned in my first posting. Then, once your membership is all set up, right away call in and say you want an Elite MM account. Because they had just run your Chex, and because you’re applying for Elite MM so soon after you got the Checking, the OnPath Credit Union will not run a second Chex on you. (Put your Chex back to frozen of course, after they have run the Chex on you for the Checking.)

midas89 (@guest_2046704)

April 19, 2025 15:44

#2046704

Erik

Erik You’re welcome. You are correct that the current 5% APY applies to the entire balance as long as there is a minimum $25,000 in the Elite Money Market account.

If you transfer money via ACH or wire into the regular savings account and then transfer that new money into Elite via their Internal Transfer page, that amount would for sure be considered new money. What they mean by new money is any money that was not previously already on deposit at OnPath in any account.

Good question where you asked a hypothetical: Say you transfer money from your established Elite MM (that already has the $25K+ of new money) in the future to your regular savings or checking account if you have one, and then subsequently change your mind and transfer that same money back to Elite MM, will that money earn interest? While I never asked that specific question, I am going to confidently say yes you will earn interest on the money you put back into the Elite MM.

If OnPath turned out to be that extremely strict, I would be so shocked, and it would be unfair. Of course, no one should try to game the system by trying to recirculate money from regular savings to Elite to regular savings and back to Elite to get the Elite account at the $25K minimum level to earn the 5% APY. I’m not saying you would ever do this.

Yes, I have OnPath.

I do not know what ChexSystem score OnPath will reject membership, but I do know I read elsewhere online quite a while ago that someone was rejected due to their ChexSystems. (I do not remember where I saw it.)

Kelly (@guest_2046722)

April 19, 2025 16:55

#2046722

midas89

midas89 All of my questions answered in advance, thanks.

Chris B (@guest_2047057)

April 20, 2025 16:31

#2047057

midas89

There is a huge probability that they will drop the rate now :/

Erik (@guest_2046264)

April 18, 2025 18:22

#2046264

Roger Update:
I talked to the director of operations at Citizens Bank of Edmond. She advised that my “High Risk” label was not due the use of VPN but to the activity on the account. She was not willing to tell me what the “High Risk” activity was. I have no idea. For example, I always had much more money in the account then any outgoing ACH transactions.

She stated that they will not be paying me the accrued interest, which is several hundred dollars. She also stated that it was just a coincidence that the accounts will be closed the day before the interest would have been paid…

I will be filing a complaint with their regulatory agency, the Federal Reserve Board. I may also file a complaint with the CFPB, although they are not able to enforce anything.

Karl (@guest_2046285)

April 18, 2025 19:30

#2046285

Erik

That sounds suspiciously like SAR behavior. If they file one and they can’t evade your questions they’re required to lie. Not sure how they live with themselves, but I suppose it works like congress – the ethical ones leave.

“…it was just a coincidence that the accounts will be closed the day before the interest would have been paid…”

Lol. Did she also offer to sell you a bridge?

Erik (@guest_2046302)

April 18, 2025 20:09

#2046302

Karl

Karl, Oh, was the bridge also a lie!? It was so cheap….

ink_me_please (@guest_2046452)

April 19, 2025 01:16

#2046452

Erik

“Coincidence”…yeah, not buying that for a second.

Erik (@guest_2046218)

April 18, 2025 16:04

#2046218

delete this

Bill (@guest_2046224)

April 18, 2025 16:12

#2046224

Erik

nope

Terp (@guest_2046388)

April 18, 2025 22:14

#2046388

Bill

Agreed. Too important to delete.

Alicia (@guest_2046033)

April 18, 2025 09:10

#2046033

Marcus 14 month CD is down to 4.40% APY from 4.50

J.D. (@guest_2046076)

April 18, 2025 10:28

#2046076

Alicia

Not a good Friday news

Dealgamer (@guest_2045968)

April 18, 2025 00:30

#2045968

One more neighbor’s question, anyone know what their external account limit is like?

random (@guest_2045876)

April 17, 2025 20:52

#2045876

Looks like openbank is now open nationwide?

Pickle Rick🔗 (@guest_2046464)

April 19, 2025 01:58

#2046464

random

I think they opened up nationwide when they started the Verizon partnership.

Terp (@guest_2046568)

April 19, 2025 09:53

#2046568

Pickle Rick🔗

Verizon partnership? Something else for me to Google. Thanks.

Pickle Rick🔗 (@guest_2046577)

April 19, 2025 10:14

#2046577

Terp

https://www.doctorofcredit.com/openbank-4-40-apy-up-to-180-in-verizon-wireless-credits/

Grateful (@guest_2045673)

April 17, 2025 15:00

#2045673

Fidelity – 2.35% cash management account (if left in FDIC sweep) has been at 2.21% APY since at least from 12/31/2024.

Jared (@guest_2045712)

April 17, 2025 16:05

#2045712

Grateful

Since I just praised the Fidelity CMA so much, I feel it’s important to mention that SPAXX *should* be an option instead of the FDIC sweep for any uninvested balance amount, and its 7-day yield as of yesterday is 3.98%. https://fundresearch.fidelity.com/mutual-funds/summary/31617H102

SPAXX auto liquidates just like the cash sweep default does, so there should be no reason to not switch over. It literally takes a couple of mouse clicks to do so, and will take effect the following day.

Volt (@guest_2046090)

April 18, 2025 10:44

#2046090

Jared

If you don’t mind manually buying it every time and you have state tax, you should use FDLXX (https://fundresearch.fidelity.com/mutual-funds/summary/31617H300) instead.
It has almost the same yield as SPAXX, and it’s 90+% state-tax exempt.
It also auto-liquidates.

Jared (@guest_2046091)

April 18, 2025 10:48

#2046091

Volt

I actually buy USFR, which is essentially 100% state tax exempt. I only have SPAXX for a couple of days as a safety net before it is spent.

Volt (@guest_2046118)

April 18, 2025 11:53

#2046118

Jared

USFR has a higher yield but it doesn’t auto-liquidate. Some trade-offs.
I am too lazy to get USFR

Jared (@guest_2046137)

April 18, 2025 12:36

#2046137

Volt

FDLXX is a fine choice, as are others. SPAXX was actually 55.09% state-tax exempt for 2024CY and the dividends I earning on it are not significant enough to make too much of a difference, so it’s really just what works for each person, of course.

If I still had all kinds of random fintech accounts where I needed to track the # of debit card transactions, or maintain min balances, or whatever the heck else crap they required, I would do something like you are for sure because time is money. But I dropped all of those after familiarizing myself with the CMA.

For just over a year now, I tally up the total amount of CC bills I need to pay, all which I’ve set-up to be on the same due date, sell the equivalent amount of USFR that’s needed a couple of days prior, which converts into SPAXX, and then all of the bills auto-pay. It’s what works best for me.

I have no idea what I’m going to do once USFR’s performance drops significantly…probably switch over entirely into dividend ETFs, but I don’t see that being required in the near future with the pure chaos that’s going on.

Red (@guest_2046187)

April 18, 2025 15:05

#2046187

Jared

No state tax exemption for SPAXX in states with min. threshold requirements. Many of those are ones with high state taxes.

Red (@guest_2046385)

April 18, 2025 22:02

#2046385

Jared

In a state with a threshold rule (many of the higher tax states) SPAXX may = 0% state tax exempt.

Red (@guest_2046406)

April 18, 2025 23:13

#2046406

Red

I meant to add that in years past SPAXX has not qualified in many states where the threshold is 50% of assets by value at the end of each quarter. Note, it is not based on percentage of dividends in many of those states, a common misconception

mangorunner 🔗 (@guest_2046121)

April 18, 2025 12:07

#2046121

Volt

If you are in a state with no state income tax, use SPRXX.
SPRXX 4.71%, SPAXX 4.65% and FDLXX 4.63%, as of this writing.

https://fundresearch.fidelity.com/mutual-funds/summary/31617H201

JD (@guest_2046154)

April 18, 2025 13:37

#2046154

mangorunner 🔗

Before anyone gets too excited, those are trailing 12 month returns, not SEC 7-day yields which are in the 3.9-4.0% range.

mangorunner 🔗 (@guest_2046158)

April 18, 2025 13:57

#2046158

Absolutely. Thanks for the correction, JD.

JD (@guest_2046707)

April 19, 2025 16:01

#2046707

mangorunner 🔗

NP…hopefully you weren’t being facetious, but if you feel offended you can blame Eric for strongly suggesting that I “call out” and correct every commenter I come across lest I seem unfair for singling him out. lol