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BobMWCoach

September 18th

Ally, Capital One 360, Marcus, and Discover online banks are worth checking out. All are FDIC insured to $250K. Use bankrate.com to check out rates.
Katiedid4258

September 19th

Great, thanks!
K
Katiedid4258

September 19th

How do I know which one to choose? The only one I didn't look at is Capitol 1 because I had an account with them, it was hacked and I'm not allowed to open another one
J
JimMWCoach

September 20th

You are wise for seeking guidance in being a good steward. Today Synchrony bank is offering 2.05 % and more. You may want to look I Bonds, limit $10,000 annually, current rate is over 9%. These will help with the fight against inflation. Thank you for being a part of the MoneyWise!
J
JimMWCoach

September 21st

Update, Today Synchrony bank is offering 2.15 %
JasonR

September 30th

Ally went to 2.1% last week as well. Does Synchrony Bank work with the MoneyWise App? I tried to link a credit card I have with them and it wasn't available (yet). The credit card was just a 0% Google cell phone purchase, and as I don't like the idea of things not being tracked in my electronic envelopes app, I just paid the Synchrony credit card off in full today and will just close out the account. (I actually didn't even want it, but that's the way Google Fi finances their phones now, vs. before it was just a 24-month 0% option that added a phone payment on the regular cell phone bill; and I need to show a $50 cell phone expense to get it fully reimbursed by work each month).
B
Blitzman

September 21st

Bankrate.com lists a number online fdic banks. I personally am going to go with a CD. Synchrony is offering 3.5% on a 60 month. I may wait a little longer since the feds are likely to raise interest rates this week. That should result in even higher HY savings & Cd rates. You can go here and check on banks you are considering. https://banks.data.fdic.gov/bankfind-suite/bankfind
JasonR

September 30th

3.5% seems awfully low vs. Series I Bonds (9.62% right now through the end of Oct). Granted, we don't know what the Nov/Apr rates will be.
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