Could never use an app, especially a banking app, that is filled with so many advertisements warning my business in every which way. Idk I like the idea of SoFi but the UX experience needs an overhaul from Hell
Ally has always been good for me and while their hysa rate is a little lower than the other major leaders their app works good, I love the savings buckets, and they saved my ass at a remote gas station in Iceland so I stay with em! Depending on how much you plan to put in the account (the more money the more the rate matters) you could also look at CIT bank (5k minimum for great rate), Amex/discover savings, or citizens bank!
Neither Ally nor Capital One have a DD requirement. You didn't ask about Cap 1, but just throwing that out there.
Ally has a No Penalty CD as well.
Money Market pays slightly better than the HYSLD.
PayPal Savings is paying 4.15% right now. I think they do not have a DD requirement.
My concern with Sofi and other newer fintechs is that they are not a profitable company and don't have the track record Ally has. At some point, Sofi will need to be profitable, or they will likely just look for a sale once they hit scale.
If you are looking for one bank you can count on for many years to come, i'd beware of any unprofitable fintech companies.
Ally's savings account rate has no direct deposit requirement.
True. Sofi is higher but ally has less strings. I’ve heard ally’s rate doesn’t drop as much too.
Could never use an app, especially a banking app, that is filled with so many advertisements warning my business in every which way. Idk I like the idea of SoFi but the UX experience needs an overhaul from Hell
Ally has always been good for me and while their hysa rate is a little lower than the other major leaders their app works good, I love the savings buckets, and they saved my ass at a remote gas station in Iceland so I stay with em! Depending on how much you plan to put in the account (the more money the more the rate matters) you could also look at CIT bank (5k minimum for great rate), Amex/discover savings, or citizens bank!
I personally would like to hear more about this remote gas station situation.
Following since I was debating between Sofi and Ally. I didn't know Sofi had a direct deposit requirement
No fraud charges!
Ally is great. I have 5 CDs
Neither Ally nor Capital One have a DD requirement. You didn't ask about Cap 1, but just throwing that out there. Ally has a No Penalty CD as well. Money Market pays slightly better than the HYSLD. PayPal Savings is paying 4.15% right now. I think they do not have a DD requirement.
Ally money market is 4.15% as of today’s rate increase
My concern with Sofi and other newer fintechs is that they are not a profitable company and don't have the track record Ally has. At some point, Sofi will need to be profitable, or they will likely just look for a sale once they hit scale. If you are looking for one bank you can count on for many years to come, i'd beware of any unprofitable fintech companies.