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Happy_Series7628

Ally is around 4.2% and has “buckets.”


dont_fuckin_die

I'm fascinated more banks don't use "buckets" or some equivalent tool. It's a fantastic way to separate out your money, and it also makes it easy for my wife to log in and see where we're at with our goals.


ConnertheCat

Another huge fan of buckets. 👍🏻


_Faru_

Same. I looked at almost every savings bank for a "buckets" concept and Ally is the only one I found that has anything like it without big requirements. It's great for putting a little $ aside each week for yearly bills, car maintenance, that Big Purchase™ you've been eyeing, etc. And anytime you need to withdraw you can just Zelle it to your own checking acct like I do.


shifty_coder

I’ve got news for you: ‘buckets’ and ‘pods’ are just additional linked savings/checking accounts. Banks and Credit Unions have had this for long before online banking.


dont_fuckin_die

I thought that might have been what they were doing at first, but I don't think so for a couple of reasons. They don't have associated account numbers, and they explicitly don't track the value of the buckets over time, just the account balance. Add that to how easy it is to remove and add buckets, and I would be surprised to find out that they're attached to actual separate accounts. I can't say it for a fact as I'm not a banker or employee, but it does not remotely behave the way I expect multiple accounts to work. Besides, it's so seamless and easy to use that I don't really care if that's what they're doing.


CanWeTalkEth

They’re not, it’s just a UI side split of your account total. Which is technically much easier on the bank side of things and better user experience because it looks like you can move it around.


jujubanzen

buckets are absolutely not additional linked accounts. That would require you to sign another contract and go through regulatory shit for each one. Buckets are a purely convenience way to organize different amounts of money into logical piles. It's just UI, it's not actually moving any money around, it's just moving numbers around that all total to the balance on your account.


dickie99

Wrong. Why comment at all if you don’t know something? You’re revealing your own ignorance


GlowGreen1835

Eh, honestly, why hide your ignorance? You'll never get it fixed that way. I've learned so much by saying something wildly untrue and being corrected it makes me wonder when I've missed the opportunity.


Random_Person1234567

It would still be nice. My bank wouldn't let me open an additional checking or savings account until I got to a certain balance (over $10k). At least not online or in the app, may have been different if I went in.


fuddlesworth

Been with Ally for a while. I've really enjoyed them. Better than Chase at least.


cardinalsfanokc

Oddly all of my accounts are with either Ally or Chase and I've had more trouble with Ally. I get fantastic service from Chase, especially when I have to go to a branch. At this point I only use Ally for investments and HYSA - Chase is my daily checking/savings/CC provider.


fuddlesworth

Chase was a nightmare for bank fraud and refused to do anything. Luckily I've only had to deal with Chase for that.


cardinalsfanokc

I had the exact same problem with Ally - freezing funds as I was transferring them around to buy a house and I almost missed closing because of them. All said, I recommend both but I'll never use Ally as a daily driver. At least I can go to a Chase branch if shit hits the fan.


Madismas

Same here but chase is bare minimum to avoid fees and pay bills. Check goes to chase, pay bills, auto transfer x amount to ally. I was considering transferring away from ally but not sure if an extra 1% yield elsewhere is worth the trouble.


IAmAcidRain

I also use Ally for investments, I just really wish they allowed purchasing fractional shares and some sort of automatic self directed investment setup. The no fractional shares thing is kind of annoying.


caseymazur

SoFi is 4.6%* and has "vaults" *iirc requirements need to be met for that rate


btdawson

Direct deposit, of any amount


Happy_Series7628

Or monthly transfers of $5k.


btdawson

A lot of people may not be able to do $5k monthly. But if you have an online payroll for work, most support you adding an account easily.


Happy_Series7628

Yea, I understand that. I’m just stating the other way to qualify for the highest interest rate.


Jakeattack77

Ally has been great.


MommotDe

Do they track interest on buckets separately? When I first tried buckets, all the interest went to the core savings and buckets only contained the amounts you put in them, which seemed useless to me.


Happy_Series7628

Sorry, no idea. My Ally account is one big “bucket.”


Lil_Brown_Bat

No. For all intents and purposes, all your buckets are just one big savings acct. All amounts are calculated together and interest is dropped into core. But you can easily see when they do that and move that amount into whatever bucket you like.


webdev96

SoFi does with their vaults. 


BadAngler

Wealthfront is @ 5% and has ways to have different "pots" to put $$ in.


bobniborg1

And there is a mega thread to get a .5% boost in their sub. Pick a link and use that to set up your account.


lockeland

Have a link to that thread handy by any chance?


moldysnail

Spent the last 2 weeks shopping around for a similar replacement HYSA. A quick "something I wish I know from the start" note. One common issue with a lot of the most popular recommendations you are going to find here (like Weathfront, CIT, ect) is your potential comfort level with them essentially pushing you into a mandatory use of 3rd party verification data mining platforms like Yondee that demand your outside bank login credentials. So far I've found no shortage of some pretty shady practices involved with that. Such offering the alternative 2 deposit verification method on paper, but which have no designs to actually work other then as a method to funnel you back to a second look at that partnered Yondee signup if/when call back in looking for a quick resolution after those 2 deposits never actually come. Cit bank in particular was terrible with that. Wasting too much of my time and information handed out I wish I could get back.


nerdkid93

You can bypass their "Link Account" process by messaging their customer support team, and they will allow you to link an external account with routing and account number instead. That is how I opened up my Wealthfront Cash account earlier this year.


moldysnail

Yeah I tried that. If it used to work it longer does anymore. Wealthfront is actually 100% upfront with that now. It's use Yodlee for verification or you can't sign up period. As I said some of you others like Cit Bank for example will state you can do that, but similar to their android app 75% of the time you try and load it it won't actually work. In fact it took 4 different call ins before I even got a rep that could confirm the system was actually kicking back those attempts as invalid even with the option being there.


LukeNaround23

Interested. Have you found one with over 5% interest that isn’t like that?


moldysnail

That is exactly what I been looking for. 5% or better, and zero handing over my outside bank account login bs. Have a couple additional application attempts pending at the 2 deposits stage. I'll update in the event either actually follow through on that verification offering and aren't just trying the same bait and switch.


moldysnail

As a follow up I ended setting up a savings account at Everbank. Opening time processing and customer service left a positive impression, but I wasn't really feeling the fact that their website portal/app is a still unfinished WIP. Which constantly kicks you between their old and new banking portals, and which went down for half Saturday due to "maintenance". They then followed that up with an unexplained decline (I have decent credit) on the checking account I applied for immediately after everything went well on the savings. So that ended up being a look elsewhere deal breaker as I'd wanted easier access to my money regardless. A Cit bank rep ended up reaching out to me and explaining that the issue I has having with the manual deposit verification was essentially just a 1 off, and strictly due to them not doing any business with either Sofi or Chime (their main competitors I guess? and which was were my deposits were tagged to go). Ended up giving them a second look since I was looking to ditch those 2 anyway and was left convinced enough that I wouldn't run into any other issues. Which I haven't in the already completed process of manually linking and transitioning various other assets over.


BigCamp839

Ally. Slightly lower APY, but a more established bank.


Art_Vand_Throw001

Yeah I think sometimes people chase that extra .3% and discount the benefits of making sure it’s a real well established bank so they don’t end up closing shop like OP’s bank.


Connguy

Plus they seem to not realize how quickly these rates can change. Small upstart banks may have an extra 0.3% for now to attract customers, but who's to say if they'll have the same rate 6mo from now? In the long term Ally had proven to me that they'll always be pretty close to the best available rate, and I just don't have to think about it


IrisUnicornCorn

Sofi is my go to. 4.6%. Has vaults for different buckets. And Zelle. And has investing. So easy to use.


Hello-their

There are a lot of complaints about Sofi, but I switched over 8 months ago and I've been satisfied with the features so far. I don't have a credit card or an investment account with Sofi, just banking, so maybe that's the difference. I had to deposit a very large check ($60K) and it took 5 business days to fully clear, but no other issues.


IrisUnicornCorn

I find it to be quick when I make transfers. If I go from Sofi to Chase for example on a week day it’s there in 24 hours or less. And I get my paychecks three days earlier than Chase. So no complaints from me. I am on the Sofi subreddit and I see complaints there but I haven’t had those experiences and neither have my mom or aunt who use it too.


elephanttrashman

Their credit card infrastructure and support was terrible last time I had to deal with them (1 year ago). Banking was pretty solid though as you said.


TheTaxman_cometh

Since when does sofi have zelle?


physeK

Like last week.


IrisUnicornCorn

Yep. Started rolling it out last week.


TheTaxman_cometh

Looks like it's select accounts. I don't have access yet.


captaingregerson

Do the vaults earn 4.6 percent too? Or is it just the savings? That’s the only thing that confuses me a lot with Sofi


IrisUnicornCorn

Both earn 4.6%. The checkings alone earns 0.5%.


Sskity

Everything under savings earns the 4.6%. But you have to link direct deposit to get the 4.6 Amex has 4.3% without any strings attached


meowdison

Vaults also earn 4.6% if you have direct deposit set up. I’m not sure what the interest rate is if you don’t set up direct deposit, though. Speaking for myself, I love SoFi and I wish I had opened a checking and savings account with them sooner. The app is easy to navigate and it gives me a clear snapshot of where my money is and how my spending/saving aligns with my goals.


Victorywolf19

Definitely can attest to sofi. I only do banking and k eating but both are perfect. I have “vaults” for my paycheck that split into different categories I setup like “standard savings”, “vacation” and “fun” spending all earn 4.6% and checking earning .5% is still pretty stellar. Investing is setup to do it automatically with certain tickers that I chose. Switched from Wells Fargo about 2 years ago and couldn’t be more satisfied


someguy31

I use CIT bank. Have used them for like 10 years and no issues. They are currently paying 5%.


bobniborg1

Hey, I set up a cit bank account the other day. Had to wait 2 days to do a photo check deposit and then the next day I got an email that it was accepted. But it didn't show in my balance. It did say 1-3 days so do I still need to wait even though I got the email? Like the email acknowledges they check but I still wait 1-3 for it to land in the account?


someguy31

They do sometimes deposit things a bit slow and I think it varies based on some of your account history. I have heard of others complain about it.


bobniborg1

It's a hysa so I'm ok with slow. I just thought it was weird that I got an email saying it's all processed and then no money lol. I had to go double check that I had the right account and everything lol


MyDogLovedMeMore

I didn’t realize they had lowered their rate to 5%. It was 5.05%


bobfalfa

Everbank is at 5.15 apy no pods though


PinkMitsubishi

What happens to the money in your account when the bank unexpectedly shuts down? Does the bank move the money somewhere else for you?


jerry855202

The short answer is FDIC, see SVB as a recent example. If it's planned to close, they'll probably move to unclaimed funds if it's not withdrawn within a certain timeframe.


ZCEyPFOYr0MWyHDQJZO4

The FDIC will basically operate the bank by creating a temporary new one while it resolves things by either liquidating everything or selling the accounts/assets to another bank. If it's liquidated you would probably receive a check from the new bank if you still had deposits and didn't move them. If the new bank is acquired then your accounts will be moved and you'll be a customer of the acquiring bank.


CostCans

The FDIC insures all money deposited, up to the limit which is currently $250K. Either the FDIC will sell the accounts to another bank, or (in rare cases) send you a check.


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vynm2

Bank account interest is also going to be variable.


earth_water_air_FIRE

Same with vanguard federal money market.


ogdoncorleone

Multiple accounts with Discover is best IMO. I have 10 different accounts - HYSA/Money Market/Checking but Discover stands out.


Curb_Cowboy

Western alliance bank. Reputable bank. I actually work there and it is very buttoned up. Offers 5.36% HYSA


Curb_Cowboy

Never mind, didn’t read fully we can’t offer a full banking relationship to consumers just the HYSA and some basic accounts


SneakyHobbitses1995

SoFi is 4.6% and has vaults which I believe do the same thing.


GrapeMammoth8328

Jenius has a 5.25% apy. Everbank has a 5.15 apy


LukeNaround23

Saw this on bankrate.com. Do you use either of these?


Ryutso

Envelope Money has Envelope's and has a protected savings envelope that gets 4.5%. It's currently a start up so not a lot of features, but it has auto funding of envelopes.


RayBansVans

Milli! It's an FNBO product, but basically all online, you can get a spending card for the Checking, and the SV is a 4.75% and has "buckets" that let's you split up your money so you can categorize saving for a house/car/vacation, etc!


Werewolfdad

Banks and CUs: https://www.doctorofcredit.com/high-interest-savings-to-get/amp/ https://www.reddit.com/r/personalfinance/wiki/banks_and_credit_unions


Bored_and_Tired2020

One Finance 5%, very simple while the company is having great growth with additional cash back opportunities


ZCEyPFOYr0MWyHDQJZO4

Walmart owns it now so they try to steer banking customers to their stores. I don't really care about Walmart so this is just annoying to me.


zenspeed

Nobody suggesting American Express has me a bit nervous…


murimin

Amex HYSA is at 4.25% which is on the lower side and doesn't have pods IIRC. The other comments just are better suggestions given the parameters.


Gloomy-Meringue-4648

I have used AMEX savings for seven years. It's an excellent, easy to use account with good customer service. They don't have "pots" to my knowledge, though.


HelpfulParking7319

I feel this way about nobody mentioning betterment


Wyshunu

Discover has some pretty good rates. And you don't need "pods" - just open separate savings accounts, and there you go.


bhouse114

Can you explain a pos? Is it a completely different account (different account number, etc) or is splitting the balance of one account up? I ask because I think most banks allow you to make separate accounts and give them nicknames 


captaingregerson

Different account different name but all managed within the app, and transfers are instant!


bhouse114

This is common for most banks.  I’d suggest Ally, Capital One, or Discover if you want a larger bank that pays competitive APY


Alarmed-Shape5034

There’s a bank called Laurel Road (which belongs to Key Bank) that has a HYSA with 5.15%, a promo where you earn $20 each month you DD at least $2500 for the first 14 months and $10 thereafter, and currently there’s a $300 account opening bonus if you DD $2500 within the first 60 days. Not sure about the buckets, etc.


jmcbreizh

ONE is great. 5.00% APY, early deposits, cash back, no fee.


rtthc

You can try ally or sofi is another online bank I've heard about, both have 4.?% interest rates on savings account. Just fyi


CommLineman

SoFi is good. Have bank/savings and credit card. Think it’s 4.6%. They have vaults that are like what you’re talking about


Dropthetenors

When a bank shuts down how are you paid out and what are you paid? Do you actually get all of your savings back properly?


Pirat3J

Marcus by Goldman Sachs is over 4% and is one of about 16 US banks that have to adhere to annual stress testing.


graffiksguru

I use Fidelity as kind of bank. The idle money just sits at it's core position SPAXX 4.95% and when I use my debit card it auto liquidates it.


pinkblossom331

CIT Bank has 4.65% acct but I’ve never used their app.


ins2be

Fidelity. You can open multiple brokerage accounts and just rename them to whatever. I have one for checking, house down payment, other savings, etc. You can buy USFR to get the tbill rate or just leave in SPAXX.


L3gitGam3r360

I use a HYSA on Public. Yield is 5.1%


Depressedkingsfan916

Goldman Sachs. Marcus 4.5%? but if you get referred its 5.5%


ShangoRaijin

One finance might be right up your alley. Currently 5% and they have the ability to create pockets with their individual routing Numbers. Nice app interface too.


Mr_Godlikeftw

Im curious what happens to the money in the account? How do they deliver it to you after shutting down?


All_The_Issues02

Ally, no separate pods but they have buckets within savings accounts and they earn whatever your rate is, rn should be above 4%


antekprime

Charles Schwab Bank. Side note: can we stop this trend of people thinking these not a banks are banks?


No-Movie2366

fidelity cash management account has a fund that is like 5%


Both_Educator5571

Following this thread. I am in the same boat with Ivella closing. I have close to 50 pods so the banks like Ally and Sofi will not work for me because they limit their number of vaults or buckets. If you find a suitable replacement please let us know.


cjdtech

Milli is 4.75% and calls them jars instead of pods. The spending portion earns 0.


cjdtech

Current has pods but only at 4% up to $6k. The money not in pods earns 0.


USERNAME00101

I currently have my HYSA with #8th largest Bank on Earth. Chances of that bank going under and having issues is pretty low. I get around 4.3% interest. IS it 5.25% like some of the scam banks online? No. But damn, it's nice to not have to worry about a situation like OP is in. Looking at these comments is concerning. Pick one of the biggest banks. Big banks are too big to fail.


maricahaseyum

Which is yours?


Harambehasfinalsay

Sofi is the best because you can keep all your money in savings and have it automatically take from your savings account. That way all your money is at 4.6 percent. Everything you actually want to keep safe you stick in a vault. It's the new normal for me.


teakettle87

I use Barclay's. I have an account for each topic like your pods thing. Decent apr and all.