Green Dot reveals savings account with a rate 30 times the national average

#1

Post by spking » Tue, Jul 30, 2019, 2:04 PM UTC

Green Dot reveals savings account with a rate 30 times the national average
cnbc.com

Re: Green Dot reveals savings account with a rate 30 times the national average

#2

Post by naiaokami » Tue, Jul 30, 2019, 2:08 PM UTC

This reads almost like a clickbait ad.

Re: Green Dot reveals savings account with a rate 30 times the national average

#3

Post by phyzome » Tue, Jul 30, 2019, 2:18 PM UTC

So, what's the catch?

I currently have my money at a credit union with an abysmal rate, but all the banks I've looked at have terrible rates as well. What's Green Dot doing that's unsustainable or unethical? Because that's my suspicion.

Re: Green Dot reveals savings account with a rate 30 times the national average

#4

Post by ljoshua » Tue, Jul 30, 2019, 2:25 PM UTC

phyzome wrote: post #3

So, what's the catch? I currently have my money at a credit union with an abysmal rate, but all the banks I've looked at have terrible rates as well. What's Green Dot doing that's unsustainable or unethical? Because that's my suspicion.

I don't know if there's a catch there, but there are several high-yield savings accounts that will get you above 2% interest rates. Usually it's just due to the fact that they are online-only, no branches to go into. A few off the top of my head: American Express Personal Savings, Ally, ING...