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High-yield savings accounts: Ally vs. Marcus vs. Wealthfront

By
Joe Taylor Jr
  • Banking
  • 2 minute read

Here’s how three high-yield savings accounts compare on interest rates, fees, customer service, and accessibility.

Sourced through Scoop.it from: www.businessinsider.com

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Many consumers have been using the same bank account that their parents helped them open in middle school or continue to use old bank accounts they opened while in college.  Why?

In a time when rates are so low and moving money is easier than ever,  there’s no reason to leave money on the table by sticking with these legacy low-interest savings accounts.  Traditional savings accounts usually offer .01% to .1% interest, while high-yield savings accounts could offer up to 200 times that rate with variable APYs up to 2.25% or sometimes even higher. The move could very well be worth it.  The BusinessInsider.com provides a good comparison of three high-yield savings accounts compare on interest rates, fees, customer service, and accessibility.

Any change requires research, acting on that research, and a change in our banking behavior.  WisePiggy is here to help.  We recommend you start by looking for at least three things

  1. high-interest rates,
  2. no fees, and
  3. ease of use.

Then use our Savings Account Widget to find banks and begin the conversation with them by expressing interest in their account.

Related wise content resources:

Savings Accounts

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Banking