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- Lydia
Any personal recommendations for high yield savings bank with no minimum of very low minimum.
I used CIT BANK myself but they have $100 minimum.
These accounts would be for my niece and nephew.
MeganAre you niece and nephew adults are minors? If the latter are they 13+?
AdamFidelity cash management account has no fees or minimums and the yield is around 5% currently
JasonCapital One for me and my kids
no minimun
no problems everKennyAlly, SoFi and Fidelity’s cash management account are all great and have over 4% interest.
AngeleI like Ally, but if you want some tax benefits maybe an UTMA/UGMA with a money market fund.
TanyaI just opened a cash reserve fund on Betterment. 5% APY, suppose to be 5.5% for 3 months once my funds get in there.
No minimum balance, just have to deposit $10.
2 MIL FDIC insured.
When I was researching it’s suppose to be compound interest monthly, but I can’t say from experience yet.
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