footpath

Joined 13 years ago

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Member since
Mar 1
https://news.ycombinator.com/user?id=footpath
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Comment · 2 years ago
Comment · 2 years ago
Comment · 3 years ago
It's a semi-hidden product called Preferred Deposit under BofA's Merrill subsidiary:

https://resources.bankofamerica.com/email/render-resource/40... https://olui2.fs.ml.com/Publish/Content/application/pdf/GWMO...

Big banks like Chase and Morgan Stanley have similar deposit products tied to their investment/wealth management arms:

https://www.jpmorgan.com/wealth-management/premium-deposit https://www.morganstanley.com/campaigns/wealth-management/qu...

They are not really competitive due to the high initial deposit or total balance requirements, as there are smaller banks that offer higher yields and no requirements. These products mostly function as an incentive for higher net worth individuals to maintain the relationship with their existing big bank.

Comment · 3 years ago
Here are two manually curated lists of the currently highest yielding FDIC-insured deposit accounts in the US:

https://phatwalletforums.com/topic/109/best-nationally-avail...

https://www.doctorofcredit.com/high-interest-savings-to-get/

4.15% is good, but there are better options, including with big banks like Bank of America (4.50% currently, though with an initial deposit requirement of $100k).

Comment · 4 years ago
Interestingly, Disney's new Chip 'n Dale movie actually features a cameo of Crumb's Mr. Natural character.

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