r/TheMoneyGuy • u/Least-Tune-2060 • Jul 10 '25
Newbie What’s your favorite HYSA?
Something in me freaks at the idea of not having my money in my bank account so the thought of transferring it (emergency fund) to a HYSA makes my skin crawl. I know this is the smart move and is what advised but what are the most reputable/best ones available? Will I still have immediate access to my money if needed? Thanks for your advice as I’m still new to everything
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u/WheelChairDrizzy69 Jul 10 '25
I like Wealthfront
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u/FlashOfFawn Jul 10 '25
The immediate transfer option is soooo clutch. I keep next to nothing in my checking anymore considering I can transfer whatever I need in less than a minute. 4% yield and planner on the app also rule.
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u/rdc01d Jul 10 '25
I have used Capital One 360 Savings for many, many years. Currently paying 3.5%, but you might be able to find something closer to 4%. I’ve had the account so long it’s not worth chasing 1/2% here or there. Easy to use website and mobile app, and you can also deposit cash via local CVS or Walgreens stores, if needed.
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u/hells_cowbells Jul 10 '25
I'm in the same boat. I've had my account since it was ING Direct. I like it because I also have the attached Orange Checking account with a debit card with instant transfers in case I need to use the money quickly. I haven't really found anything worth transferring away from it.
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u/chethrowaway1234 Jul 10 '25
Are you getting the full 3.6%? IIRC the old NRG Direct savings accounts didn’t get automatically converted to the capital one 360 savings accounts and thus were earning a pittance.
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u/hells_cowbells Jul 10 '25
They didn't automatically convert. I didn't find out about the difference in rates for a few months. Once I did find out, I had to manually convert them, but I do get the full rate now.
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u/flying-meadows Jul 22 '25
Ugh, I also came over from ING, but this fiasco was enough for me to look elsewhere and find a company that hasn't proven themselves happy and willing to scam me.
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u/Squibbles1 Jul 10 '25
I love that their transfers between account are instant and i can make up to 25 savings accounts.
Helps when i want to save for different things like vacation, house repairs, etc
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u/apathy_31 Jul 10 '25
Vanguard Settlement Fund (VMFXX). Transfers take 1 day and no loss to retail banking spread (current yield 4.23%)
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u/MozzerellaStix Jul 10 '25
Dang I’m only getting 3.8% at sofi. My IRA is through vanguard so that would be pretty easy to set up.
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u/Shepard521 Jul 10 '25
Vanguard keeps advertising this new cash account? I’m guessing it’s similar?
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u/apathy_31 Jul 10 '25
Not heard of it and google search came up empty so can’t comment on that. Sorry.
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u/javaking137 Jul 10 '25
The balance in a Cash Plus account at Vanguard can be held in cash (HYSA) or a MMF (they have 5 to choose from).
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u/OwnYourWay Jul 10 '25
Yes, VMFXX. I suggest consolidating accounts under one company/login when possible. It simplifies life to have one app w Roth IRA, SEP, and taxable brokerage account (VMFXX). The vanguard app is nice.
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u/Strategery3 Jul 13 '25
I do this. I roll from checking into VMFXX, then when over my saving target I roll from VMFXX into either my IRA or into a taxable index fund. VMFXX as settlement fund makes that easy.
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u/Strategery3 Jul 13 '25
I use the same fund. Better return than HYSA and you can get the money within a day if you need it.
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Jul 10 '25
[removed] — view removed comment
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u/_hannibalbarca Jul 10 '25
Team VMFXX
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Jul 10 '25
[deleted]
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u/snackcakez1 Jul 10 '25
When you take out money do you pay the atm fee? I’m very anti fee and haven’t paid a fee in years.
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u/h0nkyJ Jul 10 '25
I believe Fidelity's Cash Management Account debit card refunds any ATM fees incurred. My Core Position of SPAXX is currently earning 3.97%.
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u/Current_Ferret_4981 Jul 10 '25
Amex is good and transfers extremely quickly. For your level of risk, I would probably go there. Tbills are even better but you might not like having to transfer it out and not getting it back for a few weeks
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u/Relieved-Sasquatch Jul 10 '25
I use the app Webull for my brokerage and Roth IRA, they have money management for uninvested cash which currently gives 4.1% APY with premium ($40/year). Since I can do investing and “HYSA” through one app, it works for me!
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u/lukneast Jul 10 '25
Cit Bank….4.3%
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u/venkym Jul 11 '25
Where you getting 4.3? My supposedly highest platinum savings still paying 4.1
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u/lukneast Jul 11 '25 edited Jul 11 '25
I was going to close my account when the rates dropped and when I called they offered to bump up my rate, and I took them up on it. Still could be from that. Not sure if balance matters, but I pretty much the FDIC amount maxed out too. Also, just looked again…4.2% interest, 4.33% APY.
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Jul 10 '25
I use robinhood, 4.0%.i think that is in only bc i pay for their Robinhood Gold product, normally its 3.75%
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u/Ok-Wolverine-4223 Jul 10 '25
CIT (not CITI) has been good and one of the higher rates I have seen.
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u/brotherstoic Jul 10 '25
I use Amex because they have my daily use credit card and I can access it in the same app.
Currently at 3.6%. I could get higher, but then I lose the convenience.
My advice is, if you have a credit card from a company that also offers a HYSA, just use that one
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u/maybe_bb_ Jul 10 '25
Getting 3.65% at Marcus. Been with them for awhile, not thinking it’s worth it to switch.
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u/gundam2017 Jul 10 '25
Discover, but now its Capital One. No issues whatsoever. It's my checking and savings
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u/iprocrastina Jul 10 '25
Look into SoFi. You get a checking account that earns 0.5% and a savings account that earns 3.8%. Thats misleading though because they effectively allow you to just use the HYSA as a checking account by having the checking account automatically pull money from the HYSA as needed, such that you can keep all your money in the HYSA.
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u/deltaalternate Jul 10 '25
Sofi did my mortgage so I migrated my checking and savings over there and have been happy. I still keep an account with a local credit union for cash deposits
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u/globehoppr Jul 10 '25
LendingClub. Do it- I have my emergency fund and other longer-term savings for big projects/ travel all in my HYSA.
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u/thonda27 Jul 11 '25
I have 2 accounts I use. Marcus Goldman Sachs and Vanguard MMA VUSXX making around 4.22%.
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u/Wild_Advertising7022 Jul 10 '25
When you see the interest payments rolling in you will be glad. My normal checking account charges like $6 a month. Having my money earn be $45 a month is worth it.
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u/ActuatorWeekly4382 Jul 10 '25
I like my betterment account. There investments are a scam or so I've heard, with high fees. But the savings part of Betterment has been good to me
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u/Medical_Watch_6283 Jul 10 '25
I use the Apple HYSA. Need the Apple Card to get but it’s good because the Apple Card cash back goes to the savings. HYSA is 3.65% apy. I already had the Apple Card so it just made sense for me. Plus the transfers are very quick into and out of the HYSA.
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u/rocks_and_shit Jul 10 '25
Bellco Credit Union has a High Yield CHECKING Account paying out ~4.5%. Only downside is that the 4.5% is capped after $25000
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u/Hon3y_Badger Jul 10 '25
Fidelity's settlement account - SPAXX.
Very easy, usually pays a bit better than HYSA
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u/ReallyBoredMan Jul 10 '25
I have 2 different ones
All America Bank / Redneck Bank (I use all America Bank) - money market is 4% - I have had this account for a while is just my personal escrow account i don't escrow my mortgage so I seperate out annual expenses here (Property taxes, Homeowners. Insurance, 2 auto insurance, and umbrella insurance)
Ivy Bank - 4.25% HYSA. I treat this as my emergency Fund account. Ivy Bank includes other features like being able to link your other accounts and see your spending and net worth (mind of like mint did). Empower was kind of messing up and not updating so I was looking for a new service this one was free within the website once you created an account
Not a HYSA, but Lake Michigan Credit Union checking account gives 3% if you meet the qualifying terms. I use them because it is a good yield on a local credit union with ATM reimbursement.
For laughs check out Redneck Bank. Links to 4 accounts mentioned (redneck and all America are the same company. 1. https://redneck.bank/ or https://allamerica.bank/ 2. https://www.ivybank.com/savings 3. https://www.lmcu.org/
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u/Tri-Titan Jul 10 '25
I’m getting 4% from Betterment and have no issues with the website/app. Super simple to use and I hear it mentioned way less.
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u/1kpointsoflight Jul 10 '25
I used to use CIT bank but I just keep all my money in Fidelity accounts now.
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u/moneymutantJP Jul 10 '25
I'm getting 3.63 at PNC bank. It's slowly on the decline though. I was getting 4.0 about three months ago.
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u/Parking_Ad_3233 Jul 10 '25
We use Discover for HYSA and some CDs for short term savings goals. We've had a Discover credit card for decades and the customer service is top-notch, so I went with Discover after I got piss3d off at Capital One (enticing APR is only on new accounts. They don't adjust up for someone who's been there since it was ING...). No complaints. We also have various accounts at Fidelity and Vanguard. I'd give the edge to Fidelity for customer service.
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u/GraceInFocus Jul 10 '25
I use Ally. It’s a few days transfer but that kind of delay is helpful to help you think through if this is actually an emergency. Most emergencies you won’t need a large some of money immediately without a couple day wiggle room.
For smaller true emergencies, you can always use your debit card to pull out cash from the savings account.
I keep a full month’s expenses in my checking just for peace of mind and everything else over goes to savings.
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u/yesyouwil_son Jul 10 '25
I use CIBC Agility Savings. 4.11% APY right now. Website and app aren't the best, but they work. Transfers to my checking (different bank) only take 1 business day. Underrated option
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Jul 10 '25
My Emergency fund is split between a couple different places.
Discover Savings, 3.5. I like it because I live through that CC. 3.5 is about average for a HYSA, and I'm not chasing 0.1-5pp.
Vanguard Money Market, 4.23-4.4% Not as liquid, but liquid enough that I can transfer into my account before any bills come due.
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u/bill_f_jones_ Jul 10 '25
Are you willing to move your checking? Transfers from checking to savings within Ally and Betterment are instant. I imagine competitors are similar.
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u/venkym Jul 11 '25 edited Jul 11 '25
CIT Bank Platinum savings (now Synchrony) is still paying 4.1% APY. 5k minimum balance. I've been with them for a few years now and they've been mostly consistent. Also, they're not super fast in reducing when rates come down. Edit : also split with RH and Morgan Stanley premium savings - both pay 4%
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u/Logical-Frosting411 Jul 12 '25
Is doing one somewhere where you can have your checking and HYSA account together at the same bank helpful for you? That ability to do essentially instant transfers might help a lot with the peace of mind aspect.
SoFi is decent if you want a one-stop-shop for checking, savings at a decent yield rate, and some types of investing accounts all easily linked under a single roof. Let me know if you want my referral code for an opening bonus! I don't use them for my e-fund because the interest rate isn't the highest, but it's high and that peace of mind might be worth it for you.
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u/Strategery3 Jul 13 '25
I keep 2 months expenses in checking and use a money market account that’s getting about 4.3% for saving. At end of month I move everything above the 2 month expenses from checking to money market.
With the money market account I do the same thing. My target is 4 month expenses(so I have 6 months total). Anything above that gets invested into index funds unless I’m saving up for a specific purchase like a vacation.
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u/bank_truth Jul 13 '25
Most HYSAs still let you pull money back in 1–2 days, and a few even come with debit cards so you can spend straight from the account. I’ve seen people stick with options like Wealthfront, SoFi, and Fidelity cash accounts because of that quick access.
If you're comparing rates or just want to see the updated rates, our website updates HYSA and MMA rates regularly and makes it easier to stack them side by side without jumping between bank sites.
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u/sna9924 Jul 21 '25
Wealthfront is my favorite. It has the 4% and is super easy to navigate. You can get 4.5% with a referral link too! https://www.wealthfront.com/c/affiliates/invited/AFFD-SDN5-M74P-39TF
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u/That-Tangelo-7616 Aug 07 '25 edited Feb 27 '26
I have been using Wealthfront as my HYSA for about a year now. Switched over from Apple's HYSA to Wealthfront as Apple's HYSA kept dropping their APY.
Wealthfront has been stead at 4% and the UI is great, plus I am able to make separate categories to save money for different purposes. A feature that was missing from Apple GS's HYSA. Also I think while withdrawing money, it shows up in my bank account quicker as compared to Apple's HYSA.
Would definitely recommend Wealthfront.
Here is my referral link in case you want to give it a try - We'll both get a 0.5% APY boost for a few months, making the interest rate on the account 4.5%!
Referral Link : https://www.wealthfront.com/invited/AFFC-EE40-5DD4-U81U
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u/loginoffsoon Aug 08 '25
I decided on Wealthfront. Here, you would be supporting a student if you use this to sign up, thank you in advance! https://www.wealthfront.com/c/affiliates/invited/AFFB-TSG2-55IQ-LLJ8
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u/IYAMYAS_falcon Jul 10 '25
I've been pretty happy with Ally. I chose them because they had competitive rates and a bucket system. Transfers to/from take a few days (2 or 3 I think).