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Tagged With "banking"

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Re: High-interest savings accounts

Theodora ·
I've been thinking about Ally (not quite as high of a yield) -- since it's a one stop shop. Hoping to pull the trigger soon. Anyone else have feedback on Ally?
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Re: High-interest savings accounts

Vanessa ·
I've been using Ally for a couple of years and it's been great. I highly recommend it. Fantastic customer service and the website is easy to use.
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Re: High-interest savings accounts

Moore Income ·
Thanks for sharing this one. I am always on the lookout for out for high interest savings accounts. The space is getting pretty competitive so I think we will be seeing higher and higher interest accounts in the near future. I am excited about Robinhood as they just announced they will soon be launching a 3% savings account which I will most definitely be taking advantage of once it launches.
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Re: High-interest savings accounts

Adam ·
I recently opened a savings account with Ally. It had the highest APY that I saw at the time. It's been good so far. They allow for plenty of transfers per statement and partner with Zelle for immediate transfers. That being said, hearing about 2.4% and 3% APY is changing my mind lol
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Re: High-interest savings accounts

Theodora ·
@Adam Maybe they will step up their game to compete! ;-)
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Re: High-interest savings accounts

Adam ·
I hope so, @Theodora!
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Re: High-interest savings accounts

AverageJoe ·
Ally used to carry the payments on our Nissan Sentra before my wife was rear ended and nearly killed back in December of 2015. We dealt with them for 2 1/2 years, and they were very easy to deal with. We've considered putting our money in the "high" interest savings accounts, but, like you, haven't quite pulled that trigger yet. We've got a friend who is making more by putting his money into back taxes on small properties. He's getting on average of 6-8% a year on his money compared to...
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Re: High-interest savings accounts

Theodora ·
@AverageJoe Thank you for sharing your insights! So glad your wife is ok!
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Re: High-interest savings accounts

Former Member ·
I switched to Marcus for my emergency savings and I have been getting emails every few weeks to tell me the interest rate is going up. I started at 1.85% and got up to 2.25% in....maybe three months? I remember the days of a 5% interest rate....sigh!
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Re: Online checking account for business - recommendations?

Moore Income ·
Hmm... That's a great question. Currently I know about a lot of personal online checking accounts but I haven't really looked into business accounts. It is definitely something I should be doing though as I do plan on launching a side hustle soon. I will keep my eye out and let you know what I find.
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Re: Savings Account Apps?

Former Member ·
I have been using The Ally banking/savings app for a few months and have been quite happy. I have a checking and a savings account. The savings account currently earns 2.2% and has gone up twice since opening the account. I use the checking account to save for known upcoming expenses and the savings I am using for emergency fund. Also, there are no fees.
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Re: High-interest savings accounts

Adam ·
Since this post, my Ally account shot up to 2.2%! I'm also seeing some bigger banks upping their game. Discover now has 2.10% APY savings account, which ain't too bad.
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Re: High-interest savings accounts

Vanessa ·
How are you getting 2.4% at Ally? Mine's only 2.2% right now.
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Re: High-interest savings accounts

Adam ·
No, you're right! That was a typo on my end. Ally upped their rates to 2.2%. I'll edit my other post
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Re: Best On Line Savings/Money Market Accounts

Ann Josiah ·
I am working on it. Can share information
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Re: Best On Line Savings/Money Market Accounts

Mo Brownies ·
Hi, I just did some research for a friend who has a kid and was looking at some options. This one is interesting, there is a waiting list. but its the biggest APY ive seen yet. IntrX app - 2.91% APY TAB Bank 2.40% APY $1 minimum Online and Mobile banking Synchrony Bank 2.20 APY No minimum Online and Mobile banking My Savings Direct 2.40% APY No minimum Online and Mobile banking Restrictions on how deposits are made Ally 2.20 APY No minimum Online and Mobile banking Vio Bank 2.39 APY No...
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Re: Best On Line Savings/Money Market Accounts

Lucy ·
Thanks for the great info! These on line banks definitely beat traditional store front banks as far as interest. Appreciate the feedback!
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Re: Savings Account Apps?

Mo Brownies ·
Hi, I just did some research for a friend who has a kid and was looking at some options. This one is interesting, there is a waiting list. but its the biggest APY ive seen yet. IntrX app - 2.91% APY TAB Bank 2.40% APY $1 minimum Online and Mobile banking Synchrony Bank 2.20 APY No minimum Online and Mobile banking My Savings Direct 2.40% APY No minimum Online and Mobile banking Restrictions on how deposits are made Ally 2.20 APY No minimum Online and Mobile banking Vio Bank 2.39 APY No...
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Re: Best On Line Savings/Money Market Accounts

Mo Brownies ·
OMG I JUST FOUND THIS!! https://www.t-mobilemoney.com/en/home.html 4.00% APY under $3000 and the following requirments Have tmobile wireless account deposit $200/month sign up for tmobile perks Now with these stipulations you can max. your money. See the secenarios below. T-Mobile Money states you will make 4.00 APY if you have the fall in line within the 3 listing eligibities above. If you go over the $3,000. this means that the $3,000 will make anywhere between 2.79-4% APY and anything...
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Re: Savings Account Apps?

Mo Brownies ·
OMG I JUST FOUND THIS!! https://www.t-mobilemoney.com/en/home.html 4.00% APY under $3000 and the following requirments Have tmobile wireless account deposit $200/month sign up for tmobile perks Now with these stipulations you can max. your money. See the secenarios below. T-Mobile Money states you will make 4.00 APY if you have the fall in line within the 3 listing eligibities above. If you go over the $3,000. this means that the $3,000 will make anywhere between 2.79-4% APY and anything...
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Re: Best On Line Savings/Money Market Accounts

Moore Income ·
Thanks for sharing such a comprehensive list! I did check on the DCU website and it does actually say there is a $5 minimum. Not that it makes a huge difference but just sharing what I saw. I have also used Aspiration which pays a 1% APY with no minimum or fees. I am also trying out the Haven Money savings account which pays 2% APY and up to 4% if you refer enough people.
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Re: Discover Savings Accounts

Moore Income ·
Thanks for sharing. I am wondering which specific savings account it is that gives you the 3%? I searched Discover Savings Accounts and came across this page https://www.discover.com/onlin...ing/savings-account/ but it only shows an account with 2.10%
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Re: High-interest savings accounts

Alexis Grant ·
Saw a great blog post on this recently: https://chiefmomofficer.org/20...s-of-accounts-today/
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Re: Get $100 when you open a new account with Aspiration!

Moore Income ·
That is awesome that you are able to make this available to Penny Hoarders! I wish I could do it but unfortunately I already have an account. To anyone who doesn't, I definitely recommend highly!
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Re: Get $100 when you open a new account with Aspiration!

Moore Income ·
It has to be opened by today?
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Re: Get $100 when you open a new account with Aspiration!

Theodora ·
@Moore Income Please see The Penny Hoarder's article on the promo: https://www.thepennyhoarder.co...ration-sign-up-bonus
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Re: Get $100 when you open a new account with Aspiration!

Bonnie Squires ·
BRIANA This is great that you could offer this to the group here. I all ready have an account with them but up till today new members like me get $25 and $25 for the charity but it ends today
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Re: Get $100 when you open a new account with Aspiration!

Moore Income ·
@Theodora Thanks. I just wasn't sure but it does say April 30. I was hoping it was a bit longer so I could recommend it to others.
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Re: Get $100 when you open a new account with Aspiration!

Wanda J. ·
I did everything asked for on app but was unable to link accounts and only offering me $50 to join? They have taken out $2 out of my account? I have emailed company but no reply??
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Re: Get $100 when you open a new account with Aspiration!

friardave ·
I kept getting spam by them. No thanks.
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Re: Get $100 when you open a new account with Aspiration!

Wanda J. ·
I keep getting emails! Took $2 out of account!
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Re: Get $100 when you open a new account with Aspiration!

Briana ·
We're going to contact Aspiration to make sure they connect with you asap. Thanks for letting me know!
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Re: Get $100 when you open a new account with Aspiration!

Bonnie Squires ·
WANDA J. I think the $2 they took out is monthly fee Which you can set to 0 . You will need to go into your setting and change it. I'm on a lap top so I don't no if its different from a phone but you can see where it has Pay What Is Fair It be fee setting click this and you can change it to 0 or up to $20 I think. MOORE INCOME my be able to help more. I just open my account so i'm still learning.
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Re: Get $100 when you open a new account with Aspiration!

Bonnie Squires ·
BRIANA could all so could be a monthly fee to. If so than it would need to be changed.
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Re: High-interest savings accounts

BJLEE ·
Is it easy to transfer money to an online savings account such as Ally or Marcus? How does the transfer work?
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Re: High-interest savings accounts

AverageJoe ·
It is relatively easy. One takes and signs up for an account at the online bank of choice, fills out the requested information along with the amount to be transferred, and then there is usually a verification process, ie, the bank you're transferring will put in two small transfers to your account at the regular bank that equal less than a dollar. After these two have cleared, they will allow you to have the transfer take place. It usually takes anywhere from 3 to 7 days to ensure that the...
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Re: High-interest savings accounts

BJLEE ·
Does it charge for each transfer? @AverageJoe
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Re: High-interest savings accounts

AverageJoe ·
BJLEE, I have never heard of anyone being charged a fee unless they sign up for an account that requires a certain amount to avoid such fees.
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Re: High-interest savings accounts

BJLEE ·
Have any of you heard good things about Chime Banking? @AverageJoe @Moore Income
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Re: Worried about mobile apps for savings and banking; put my mind at ease, please

Former Member ·
From what I've read, online only banks are safe as long as they are FDIC insured. It's just like how you use the app or website for your regular bank - just without that brick-and-mortar overhead. One thing to remember though: *personal* online security is still up to you. (aka maybe don't use your banking apps when you're on the free coffee shop WiFi.) The bank will take security measures on its end so you can use the app or website safely, but you still need to practice good online habits.
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Re: Worried about mobile apps for savings and banking; put my mind at ease, please

mintjulep ·
Thank you Lisa! I know some of the on-line banks, like Ally, have been around a while, I'm wondering if there is a way to check out their performance. I assume if they advertise FDIC insured that's a first step.
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Re: Worried about mobile apps for savings and banking; put my mind at ease, please

Theodora ·
@mintjulep For what it's worth, I've heard such great things about Ally from lots of credible sources. I just opened an account with them and the experience has been excellent so far. They offer paper checks as an account feature -- which I couldn't find at any of the other online banks. (I have had to work with a lot of contractors, handymen and landscapers in the past year that still only take checks.)
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Re: Worried about mobile apps for savings and banking; put my mind at ease, please

mintjulep ·
Thank you for your input about Ally, Theodora. I really want to make this move!!
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Re: Worried about mobile apps for savings and banking; put my mind at ease, please

Moore Income ·
I just opened an account with Empower and will be putting some money in there shortly. FDIC insured is something you can usually count on. I personally enjoy trying out new things and am usually one of the first to test these new things. There is a always some measure of risk involved but as long as the company is reputable and isn't promoting anything that I would deem to be sketchy, I will usually at least give them a shot. As mentioned above, it really just depends on you and weather you...
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Re: Worried about mobile apps for savings and banking; put my mind at ease, please

mintjulep ·
I definitely think it is worth it. I don't put all my eggs in one basket anyway, even when it comes to just a checking account, so why not get as much interest as is available. I'd love your input on the various online banks as you try them @Moore Income! You've listed some others that I've not been aware of. Thank you!
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Re: Worried about mobile apps for savings and banking; put my mind at ease, please

Former Member ·
@Moore Income how do you strategize what money goes into what account, and how do you stay organized? I recently consolidated some of my cash and closed some extraneous accounts, mostly for simplicity's sake. How do you maximize your 6 checking accounts?
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Re: Worried about mobile apps for savings and banking; put my mind at ease, please

Moore Income ·
@Former Member Good question. I personally am just testing most of them to see howh they work and such and I usually just start with a set amount. I have moved money between a couple due to a better interest rate but I haven't really added much to the accounts besides the initial deposits. I am starting to add more to My Haven account since they have a 2% interest rate (up to 4% if you refer people) they also allow me to connect all my other accounts to manage my money in one place. So...
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Re: Worried about mobile apps for savings and banking; put my mind at ease, please

Moore Income ·
@mintjulep message me and I can share more details about each one and what the pros and cons are.
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Re: Traditonal or non traditional

AverageJoe ·
I would say to go with a mutual fund or to go to your county court house to see if there are any properties that have back taxes. One can make anywhere from 6-12% on the money they pay in back taxes on someone else's property! We have done this a few times, and it was good. But one always needs to check the property's condition, ability to sell, just in case you end up with the property. More often that not, if you do, it will be of much greater value than what you paid for the back taxes.
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Re: Traditonal or non traditional

AverageJoe ·
As far as savings accounts, you could keep going to the high interest savings accounts. The regular savings accounts are a good tool for kids to start learning the value of money, but for adults, the higher interest rate accounts are the way to go.
 
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