What bank do you use?
I’ve found myself sitting on $15K in my NFCU checking account. I currently put 25% into my TSP & have about $15K in their as well, but I feel like my money should be in a HYSA or somewhere better than just sitting in my checking.
I previously had SoFi & have thought about switching back, but I don’t know if it’s worth it solely for the 5% HYSA or whatever it is now.
What are your guys thoughts on bank accounts? HYSA? Next steps for me in my financial journey? Etc
Thanks in advance!
Posted by yodakk
3 Comments
I like Amex hysa
I’ve been with Ally for the last six years
They change rates pretty regularly, I think 14 times last year
Currently 4.2% APY
Don’t bother chasing the highest rate with $15k, the difference is less than $100 a year of interest
I keep my emergency fund in an NFCU money market that I know I can quickly and immediately transfer to checking. I have a little bit of a CD ladder with the NFCU special rate CDs that were just over 5% when I started them. Anything else that I want to keep liquid-ish, I keep in my Vanguard settlement fund, which is automatically VFMXX and paying about 5% now. Sofi, Discover, and others do offer HYSAs and I figure they are fine but the rate can change downward quickly.