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expiredtejesh83 posted Jan 25, 2023 10:44 PM

Wealthfront 3.8% Cash Savings Account, upto 4.3% with bonus (ymmv)

Wealthfront
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Deal Details
Wealthfront has a cash account, fdic insured for upto $2M with a 3.8% APY. If you sign up using someone's referral link, they'll give you and the referrer a 0.5% bonus for 3months. If you refer others, you can get that bonus for upto 12months on the 1st $250k in your account.

They've been consistently raising rates with the fed rate hikes. I was previously chasing banks and hopping as each bested the other, but haven't really needed to with Wealthfront, but who knows if it will stay that way. Discovering the bonus program was gravy, but its YMMV on if you can maximize it. We can't share codes here, but plenty of new ones on reddit or the likes.
About this offer
For every friend you invite who opens a Cash Account, you'll both get a 0.50% increase to your current interest rate which will last for 3 months -- during which you'll both also get $5,000 managed for free in an eligible Investment Account.

There's no limit to the number of referrals, but the maximum extended APY increase will be applied up to 12 months. The APY increase applies to a maximum of $250,000 across all of your Cash Account balances and categories. Your rate increase should be applied to the eligible cash balance within 24 hours.
https://www.wealthfront.com/
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
Wealthfront has a cash account, fdic insured for upto $2M with a 3.8% APY. If you sign up using someone's referral link, they'll give you and the referrer a 0.5% bonus for 3months. If you refer others, you can get that bonus for upto 12months on the 1st $250k in your account.

They've been consistently raising rates with the fed rate hikes. I was previously chasing banks and hopping as each bested the other, but haven't really needed to with Wealthfront, but who knows if it will stay that way. Discovering the bonus program was gravy, but its YMMV on if you can maximize it. We can't share codes here, but plenty of new ones on reddit or the likes.
About this offer
For every friend you invite who opens a Cash Account, you'll both get a 0.50% increase to your current interest rate which will last for 3 months -- during which you'll both also get $5,000 managed for free in an eligible Investment Account.

There's no limit to the number of referrals, but the maximum extended APY increase will be applied up to 12 months. The APY increase applies to a maximum of $250,000 across all of your Cash Account balances and categories. Your rate increase should be applied to the eligible cash balance within 24 hours.
https://www.wealthfront.com/

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14 Comments

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Jan 25, 2023 10:53 PM
3.1K Comments
Joined Jul 2004
DiMAn0684Jan 25, 2023 10:53 PM
3.1K Comments
There're accounts that offer similar or better rates without jumping through hoops. Here's one, for example https://www.mysavingsdirect.com/. Looks like it is offering 4.35% as of now.
Jan 25, 2023 11:16 PM
1K Comments
Joined Mar 2007
IliveinAlbanyJan 25, 2023 11:16 PM
1K Comments
Bread [breadfinancial.com] is offering 4.5%. 4% for the savings account.
Jan 25, 2023 11:24 PM
2.5K Comments
Joined May 2015
mischlepJan 25, 2023 11:24 PM
2.5K Comments
"fdic insured for upto $2M"

FDIC insurance limit on a single account is $250,000 for an individual account holder.
Jan 25, 2023 11:26 PM
370 Comments
Joined Nov 2013
Dealchaser2020Jan 25, 2023 11:26 PM
370 Comments
Quote from mischlep :
"fdic insured for upto $2M"

FDIC insurance limit on a single account is $250,000 for an individual account holder.
They use several banks that spreads your money across them which gives you the larger fdic insurance
Jan 25, 2023 11:33 PM
9.5K Comments
Joined Dec 2013
doboy007Jan 25, 2023 11:33 PM
9.5K Comments
Quote from urlhasbeenblocked2020 :
They use several banks that spreads your money across them which gives you the larger fdic insurance
Good to know, thanks. I thought they just pay for a higher limit.
Jan 26, 2023 12:15 AM
408 Comments
Joined Jun 2015
badger1440Jan 26, 2023 12:15 AM
408 Comments
Wealthfront gives you a debit card to use right from the cash management account. They will also send out checks to anyone you choose. Plus they will let you pay monthly bills via electronic debits.

There is no limit on how many transactions you can have in a month. Their website and app are very easy to use

This is the closest thing to a 3.8 % checking account with NO fees.
Jan 26, 2023 12:20 AM
1.6K Comments
Joined Mar 2005
jrlcopyJan 26, 2023 12:20 AM
1.6K Comments
Quote from DiMAn0684 :
There're accounts that offer similar or better rates without jumping through hoops. Here's one, for example https://www.mysavingsdirect.com/. Looks like it is offering 4.35% as of now.
4.5% over at Redneck https://redneck.bank/

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Jan 26, 2023 12:45 AM
3.1K Comments
Joined Jul 2004
DiMAn0684Jan 26, 2023 12:45 AM
3.1K Comments
Quote from jrlcopy :
4.5% over at Redneck https://redneck.bank/
Yeah, there're a few, this was the first one that came to mind with the rate higher than this promo offer.

Edit: Redneck also caps the amount they pay higher rate on, last I checked it was $75k I believe.
Jan 26, 2023 4:50 AM
1.2K Comments
Joined Aug 2017
ifelseyesnoJan 26, 2023 4:50 AM
1.2K Comments
Quote from DiMAn0684 :
There're accounts that offer similar or better rates without jumping through hoops. Here's one, for example https://www.mysavingsdirect.com/. Looks like it is offering 4.35% as of now.
I enrolled in mysavingsdirect. Very easy process and interest counts the day you transfer. They hold your funds for 7 days and you can't ach pull funds from external accounts, only allow ach push from mysavings
Jan 26, 2023 8:27 PM
42 Comments
Joined Nov 2019
BryGuyDudeJan 26, 2023 8:27 PM
42 Comments
Just going to point out that most people posting account with better rates are posting savings accounts. The Wealthfront cash account is basically a checking account.
1
Pro
Feb 8, 2023 9:33 AM
2.2K Comments
Joined Jan 2015
khronos
Pro
Feb 8, 2023 9:33 AM
2.2K Comments
Quote from DiMAn0684 :
Yeah, there're a few, this was the first one that came to mind with the rate higher than this promo offer.

Edit: Redneck also caps the amount they pay higher rate on, last I checked it was $75k I believe.
75K for money market
15K for checking
Feb 11, 2023 9:40 PM
333 Comments
Joined Mar 2016
beachbuddyFeb 11, 2023 9:40 PM
333 Comments
Quote from BryGuyDude :
Just going to point out that most people posting account with better rates are posting savings accounts. The Wealthfront cash account is basically a checking account.
The line been savings and checking is blurring for lot of banks. SoFi for example has savings account with no limits on number of transactions in a month - which earlier was restricted to 6 pre-covid for most savings accounts.

However, its good to have have a real checking account with high interest rates. I am just not sure about how much to trust "wealthfront" as its not really a bank. It leverages other banks to provide this account. There is some grey line when the money is in transit if the FDIC insurance going to be applicable or not.
Mar 24, 2023 6:08 PM
452 Comments
Joined Mar 2014
deptrai1Mar 24, 2023 6:08 PM
452 Comments
Now 4.3% APY with 4.8% for three months with referral.
May 4, 2023 12:14 PM
452 Comments
Joined Mar 2014
deptrai1May 4, 2023 12:14 PM
452 Comments
Going to 4.55% tomorrow. I'll be receiving 5.05% with my referral bonus. FDIC insured to $5M ($10 for joint accounts)

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