Online Savings Banks

Some online banks are advertising 3+%. i.e, Discover, Citi Capitalone, etc! Any input for the best would be appreciated. I’ve read good and bad reviews on all! Thanks!

Ally has a debit card fraud problem. Read it on Reddit. Terrifying.

I’ve been very happy with Ally. I do have a savings account with them. A debit card is not required so I don’t have one nor have I experienced a need for one.

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On the Bogleheads Forum, some of the recommended online banks include Ally, CapitalOne, Marcus and Synchrony. It is very easy to switch between online banks if you are not satisfied with your initial choice.

My online AMEX bank account just notified their interest rate has increased to 3.3%.

Check out SoFi. 3.5% on savings and 2.5% on checking

I have been happy with Discover 3.3% right now .

I’m with Marcus, Synchrony and Discover. But for a what slow synchrony web site, never had any problems.

Just announced: SoFi rate now 3.75%

Thanks everyone for your input. I have settled on Synchrony 3.75

I have been happy with Capital One.

Ally Bank: Best overall.
Vio Bank: Best for high-yield money market.
SoFi Bank: Best checking/savings combo.
Axos Bank: Best for relationship rewards.
Quontic Bank: Best for innovation.
American Express: Best for high-yield checking.

SoFi 3.75% savings 2.5% checking

I’ve got SoFi. In order to get the 3.75% on savings, you need to have a direct deposit going in. I have my SS check going in every month. I also just took advantage of a $50 referral bonus after referring my son (who got a $25 bonus). I also have Marcus which pays a bit less.

The beauty of SoFi is they also have checking and provide checks along with being able to set up auto-pay for bills.

Thanks to all that replied. I went with Synchrony

Based on the review here on I opened an account with Synchrony Bank. It is paying from 3.45 % to 4.25%. I have been with them about 6 months and have had no issues so far. You can have unlimited inward(deposits) to your account with only 6 withdrawals PER MONTH. I will add that this account has NO MINIMUM dollar amount requirements and the rate doesn’t have an “introductory” rate. I does vary from month to month but has NOT gone below 3.25%

Alliant Credit Union has competitive savings rates. I have had decent experience with them and they have a great cashback credit card.

Do they stipulate a time frame for their offer of interest on savings? I was getting 3% locally but had to have my checking plus have a minimum of 10 transactions with my bankcard per month. That wasn’t a problem but they have since stopped the program. I am not going to change the direct deposits but would like to find a bank that offers decent interest if I move funds to them.

The only constraint is only 6 transfer transactions per month. Nothing more!

Thanks so much!