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forum thread Posted by MoeOney • May 2, 2024
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forum thread Posted by MoeOney • May 2, 2024

5.15% Performance Savings: High Yield Savings Account

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Bank savings interest wealth percent

https://www.everbank.com/banking/...ce-savings
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Bank savings interest wealth percent

https://www.everbank.com/banking/...ce-savings

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May 2, 2024
2,187 Posts
Joined Sep 2005
May 2, 2024
spam
May 2, 2024
2,187 Posts
Interesting. There was another Ever Bank which TIAA bought. The about us page says this bank has been around for decades. Never knew about this.

Anybody has experience with this bank?TIA
May 2, 2024
649 Posts
Joined Jun 2017
May 2, 2024
thedowg2
May 2, 2024
649 Posts
Government Treasuries are currently paying ~5.3% interest for 1-month to 6-month durations. That's a higher rate than most CDs, and you don't pay State Income Tax on government treasuries.

Edit: You can see recent rates on TreasuryDirect.gov by going to https://www.treasurydirect.gov/au...a-results/

To buy them on TreasuryDirect, first log in, then go to BuyDirect, then choose Bills (1 year or less).
Last edited by thedowg2 May 2, 2024 at 08:47 AM.
May 2, 2024
7 Posts
Joined Mar 2020
May 2, 2024
ElatedHorn679
May 2, 2024
7 Posts
Quote from spam :
Interesting. There was another Ever Bank which TIAA bought. The about us page says this bank has been around for decades. Never knew about this.

Anybody has experience with this bank?TIA
I've been w/ them since around 2004. They were one of the first online only banks at the time so they had a lot of online features other banks at the time didn't. Most banking has caught up by now, but they are still good for high yield accounts and lack of banking fees. They were sold to TIAA who merged it w/ their service, and now TIAA was sold to private investors who are renaming it Everbank. The TIAA merger had some hiccups which was the only time I ever had issues with them. I expect more hiccups as they rename again, and it's worrisome that this is a private investment group. I moved my daily banking to Schwab after the TIAA merger but still kept my account due to the high interest received.
1
May 2, 2024
18,958 Posts
Joined Feb 2010
May 2, 2024
Binar
May 2, 2024
18,958 Posts
Is it hard to move money to and from them ?
May 2, 2024
1 Posts
Joined May 2024
May 2, 2024
gnarlyfarter
May 2, 2024
1 Posts
Quote from spam :
Interesting. There was another Ever Bank which TIAA bought. The about us page says this bank has been around for decades. Never knew about this.

Anybody has experience with this bank?TIA
This bank bought tiaa bank and then resurrected an old name for its new bank. I was a tiaa bank customer, and now an everbank customer. They are efficient and keep promises.
May 2, 2024
632 Posts
Joined Aug 2009
May 2, 2024
Junoon123
May 2, 2024
632 Posts
In case if someone wants to know, i have been banking with Everbank for more then 10 years now. It is one of the best bank. You can even buy foriegn currency with Everbank.
I have on occasion added and removed thousands and never had any issue with them.
Thank You
1
May 2, 2024
21 Posts
Joined Mar 2018
May 2, 2024
FlogixFlogix
May 2, 2024
21 Posts
Quote from thedowg2 :
Government Treasuries are currently paying ~5.3% interest for 1-month to 6-month durations. That's a higher rate than most CDs, and you don't pay State Income Tax on government treasuries.
where? I don't see anything like this on treasury direct.

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May 2, 2024
65 Posts
Joined Sep 2009
May 2, 2024
nd4spdbh
May 2, 2024
65 Posts
Quote from thedowg2 :
Government Treasuries are currently paying ~5.3% interest for 1-month to 6-month durations. That's a higher rate than most CDs, and you don't pay State Income Tax on government treasuries.
+1 to tbills, way better off having something like a vanguard account doing tbills, and a better well known bank with physical branches earning ~4% in a HYSA vs putting it all in a no name bank with no physical locations
May 2, 2024
632 Posts
Joined Aug 2009
May 2, 2024
Junoon123
May 2, 2024
632 Posts
Quote from spam :
Interesting. There was another Ever Bank which TIAA bought. The about us page says this bank has been around for decades. Never knew about this.

Anybody has experience with this bank?TIA
Yes, i registered with Everbank back in 2007 5 year or so later TIAA bought Everbank and now it's back to everbank. Both of them were excellent as far as i am concerned.
Thank You
May 2, 2024
866 Posts
Joined Aug 2006
May 2, 2024
SmellyCat
May 2, 2024
866 Posts
Quote from spam :
Interesting. There was another Ever Bank which TIAA bought. The about us page says this bank has been around for decades. Never knew about this.

Anybody has experience with this bank?TIA
Tiaa bought Everbank. Named changed to TIAABank, then later sold TIAA Bank and the bank reverted back to EverBank
May 2, 2024
1,255 Posts
Joined Jan 2008
May 2, 2024
manku
May 2, 2024
1,255 Posts
One problem, and it's a big one, with all these non-brokerage/money market accounts is that banks have a tendency to change rates at will.

So while my Fidelity/Schwab/Vanguard money market is around 5% right now, the only way it goes down is if the Fed cuts rates.

These other banks put out teaser rates with all sorts of terms and conditions...don't be surprised when you're getting half a percent interest 6 months from now.

May 2, 2024
649 Posts
Joined Jun 2017
May 2, 2024
thedowg2
May 2, 2024
649 Posts
Quote from FlogixFlogix :
where? I don't see anything like this on treasury direct.
You can see recent rates on TreasuryDirect.gov by going to https://www.treasurydirect.gov/au...a-results/

To buy them on TreasuryDirect, first log in, then go to BuyDirect, then choose Bills (1 year or less).
May 2, 2024
2,187 Posts
Joined Sep 2005
May 2, 2024
spam
May 2, 2024
2,187 Posts
Quote from SmellyCat :
Tiaa bought Everbank. Named changed to TIAABank, then later sold TIAA Bank and the bank reverted back to EverBank
OIC.. I missed the last part as TIAA closed my EverBank account because of inactivity
May 3, 2024
1,005 Posts
Joined May 2018
May 3, 2024
Oil_Burner
May 3, 2024
1,005 Posts
UBS Bank has a promotional offer of 5.40% - https://www.ubs.com/us/en/wealth-...tml#table8

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May 10, 2024
27 Posts
Joined Dec 2009
May 10, 2024
wileecoyote1
May 10, 2024
27 Posts
Quote from Oil_Burner :
UBS Bank has a promotional offer of 5.40% - https://www.ubs.com/us/en/wealth-...tml#table8 [ubs.com]
That appears only to last until the promotional period expires. Returns to 4.5% for under $250K. Still not too bad.

Promotional rate ends on June 9, 2024. At the end of the promotional period, interest rates will be tiered based on your eligible deposits in a Marketing Relationship. UBS Bank USA reserves the right to terminate the offer on new deposits at any time.
The annual percentage yield quoted is valid during the promotional period. Upon expiration, interest will be applied based on interest tiers noted under Table 7.

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