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CapOne money market ( > 10k balance) has been at 1.75% since at least July 18, 2018. I finally switched from the savings (1.0%) to money market
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Last edited by Jluke; 08-04-2018, 07:42 PM. Reason: emphasis added; easier to do on computer than phone -
I just wanted to highlight that part - the higher rate is only if your balance is over $10,000. Ally has no minimum to earn their rate.Originally posted by Jluke View PostSteve
* Despite the high cost of living, it remains very popular.
* Why should I pay for my daughter's education when she already knows everything?
* There are no shortcuts to anywhere worth going.Comment
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Yeah. Maybe I'm just poorer than JLuke, but if I had $10K laying around, it would go in CDs and the stock market.Originally posted by disneysteve View PostComment
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Just checked CapOne360 CD rates. 12 month is now 2.4%. I opened one back in April with 7k and got 2.1%.Originally posted by Nutria View Post
I feel the need to have a larger cash savings* and come January some of that will be used for my 2019 Roth contribution. This cash savings is also part of my fixed income for overall asset allocation (75% stock, 25% "bond"/fixed income).
* Note I do not refer to the CapOne MM account solely as an Emergency Fund.Last edited by Jluke; 08-04-2018, 07:51 PM.Comment
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FNBO does seem to do a pretty good job of staying competitive. They are currently at 1.85% with no minimum. I've had an account at Barclays, also currently at 1.85% with no minimum, for over 6 years and have been happy with how they have kept their rates up. They aren't necessarily the leader, but consistently a bit ahead of the "middle of the pack" internet banks.Originally posted by creditcardfree View PostComment
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Ally just upped their rate again to 1.85%.Steve
* Despite the high cost of living, it remains very popular.
* Why should I pay for my daughter's education when she already knows everything?
* There are no shortcuts to anywhere worth going.Comment
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CapOne Money Market (10k Min) went to 1.85 some time in August as well.
Keeping pace except for that whole 10k minimum requirement at CapOne
guess it is something to be excited about.
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My daughter, who had her Ally account before me, loves when they bump up the rate. In her words, it's more "free money". I've taught her well.Originally posted by Jluke View PostSteve
* Despite the high cost of living, it remains very popular.
* Why should I pay for my daughter's education when she already knows everything?
* There are no shortcuts to anywhere worth going.Comment
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I finally cut over to Ally Bank as well. Moved my EF from CapitalOne and also closed US Bank accounts. So only have Ally and CU for local option."I'd buy that for a dollar!"Comment
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capital one MM is 1.85% over $10k. I recall also getting 6% interest when I was younger in savings accounts. I haven't bought i-bonds this year yet. I'm waiting to see what happens to the rates in NovemberComment
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I have been trying to open and fund an Ally savings account since 8/24 and it has been nothing but a giant pain in the ass. It took them a whole week to tell me that I need lift the TransUnion hold (which I know was my fault, but to wait a week?), then the person I talked to when I called back to say it was lifted left one digit off of the account number she gave me, and told me to "check the account tomorrow" so the two accounts would be linked and I could log in. So I wait 2 days and notice that there is no savings account and the money that was supposed to fund the savings account is now in my daughter's investment account for some reason. I spent 25 mins on the line today going back and forth with a CSR, mainly because she didn't understand that "investment account" I kept talking about was the same as "trading account". Sigh. Then for the 5th time I asked how do I get the money that was supposed to fund the savings account out of the investment account, she finally says, "OH, that's a known." as if that explains everything. Then goes on to say that I was told by the chucklehead I talked to the other day that I should wait 2 business days for the accounts to merge, which she did not say. I was told to check back tomorrow. So basically it boils down to I have to see if their investment account CSR can figure out how to transfer the $500 into savings, which still does not exist on the internet yet, and then wait another day to see if the accounts magically merge themselves overnight. Chuckleheads, one and all!Comment
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Sorry you've had so much trouble, msomnipotent. My daughter and I have had nothing but great customer service and online access from Ally, and they are consistently rated highly for those things. I hope they get it all straightened out soon.Steve
* Despite the high cost of living, it remains very popular.
* Why should I pay for my daughter's education when she already knows everything?
* There are no shortcuts to anywhere worth going.Comment
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It wouldn't be worth switching to me. I'm switching my HSBC account to Ally and keeping the Capital One. I was only earning .01% with HSBC and I hated their customer service. I am keeping the Cap 1 for property taxes and emergencies since my husband can't access the account unless he looks for my log in info, which he wouldn't bother to do. The Ally was going to be for vacations & Christmas and the like, and if he spends that then we don't go on vacation.
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how easy is it to open a MM from capital one if you already have a savings account there?Originally posted by Jluke View Post
is there any catch to opening the MM? 1.85% is better than 1%Comment
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The only catch is that you have to have a minimum balance of $10,000. From what I understand, you still have to have your credit unfrozen to open an account even if you already do business with them. It wasn't hard for me to open a MM with them. It took a few business days and I had to verify a test deposit when I linked accounts, but that is what everyone does.
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