yote_zip ,
@yote_zip@pawb.social avatar

I used to do this but if you aren’t aware Regulation D was removed during the pandemic which means you can use savings accounts exactly like checking accounts. Some banks will also let you store nothing in checking and auto-draw from savings when you use your checking account.

I currently store my cash with SoFi which allows this and has 4.6% returns. I made the decision to stop using a brokerage as checking a while ago but IIRC, money market accounts and HYSA accounts moved together for returns and sometimes HYSAs were better so I felt like it wasn’t worth the complication for potentially a few dollars of profit per year. I store very little cash on hand anyway since I’m able to sell raw stocks in the event of an emergency. (Selling while the market is down will still put you ahead of cash returns if you invested that part of your emergency fund a while ago).

  • All
  • Subscribed
  • Moderated
  • Favorites
  • random
  • [email protected]
  • All magazines