Ask HN: Which savings account do you use, online or traditional?

#1

Post by altaaf_baatli » Tue, Jan 07, 2020, 8:39 PM UTC

I am looking to open a new savings account. Any suggestions?

Re: Ask HN: Which savings account do you use, online or traditional?

#2

Post by diehunde » Tue, Jan 07, 2020, 9:21 PM UTC

I'm using wealthfront's high-yield cash account. Right now the APY is 1.82%. Much better than any traditional savings account.

Re: Ask HN: Which savings account do you use, online or traditional?

#3

Post by altaaf_baatli » Tue, Jan 07, 2020, 10:21 PM UTC

diehunde wrote: post #2

I'm using wealthfront's high-yield cash account. Right now the APY is 1.82%. Much better than any traditional savings account.

How is the ease of use?

Re: Ask HN: Which savings account do you use, online or traditional?

#4

Post by diehunde » Wed, Jan 08, 2020, 4:40 AM UTC

altaaf_baatli wrote: post #3

diehunde wrote: post #2

I'm using wealthfront's high-yield cash account. Right now the APY is 1.82%. Much better than any traditional savings account.

How is the ease of use?

Very easy. You just link your bank account and then you can schedule transfer from the same app. The only thing I'm not a big fan is that normally it takes up to 2 days to complete the transfer. Same if you need to withdraw money. Regular savings account are more liquid if I'm not mistaken.