Hacker News new | past | comments | ask | show | jobs | submit login

> At a real major US bank, I was getting 4.65% in my savings account at this same time.

Was that in a CD, or in an account with a big minimum? Most major banks did not offer such a rate in a generic mass market liquid savings product.






Marcus (Goldman Sachs) high yield savings was 4.50% until revenetly. EverBank is at 4.75% right now. These are normal savings accounts.

How does Everbank offer rates above the fed rate? Wealthfront offers good rates but they track the fed rate pretty closely.

Yes but I don’t perceive them as a “major US bank”. I was expecting that term to mean the largest banks for typical consumers like Bank of America or Wells Fargo or Chase. Everbank is small, and GS is mostly an investment bank rather than a retail bank.

> the largest banks for typical consumers like Bank of America or Wells Fargo or Chase

These banks are up front about not competing on rates.


Marcus, which is GS Bank, is certainly a retail product aimed at consumers.

Capital One, Discover, Ally, etc. were offering 4.35% at the peak. Not quite as good, but very decent for a savings account.

I don't know where you would draw the line under "major", though. But everyone knows BoA, WF, and Chase are trash when it comes to savings rates. They don't do it.

In Europe, HSBC (which is comparable in size to Chase and BoA) has reliably high saving accounts rates. HSBC UK was offering 5% until recently, I believe.


Hell, Fidelity pays 235 bps on checking and 435 on money market, which you can have them programmatically move everything over a fixed dollar amount in your checking into [1].

[1] https://www.fidelity.com/spend-save/fidelity-cash-management...


US Bank[1] which is the second oldest and fifth largest[2] US bank currently has 3.5% on their Money Market account which is basically an HYSA.

[1]: https://www.usbank.com/bank-accounts/savings-accounts/elite-...

[2]: https://en.wikipedia.org/wiki/U.S._Bancorp




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: