Best Checking Account
Want to hear what's out there and what fellow bankers are using. Used chase in the past but the interest on it was non existent. Switched to SoFi that gives 2% interest on checking currently but want to know what else is out there
Schwab for convenience and customer support
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I use BofA for convenience, and have my rainy day / emergency fund in a Marcus account.
I would go for convenience (ATMs, service locations if you ever need to do a wire or something similar in person) and service over yields on your checking account, you shouldn't be keeping a ton of money in there anyway
Capital one checking/savings comes as a package. They have brick & mortar locations for your convenience and their yield is the same/very close to marcus. I used marcus for a bit but the interface looked a bit lackluster. I also have Schwab for out of network ATMs. Why did you specifically use BofA
Because it's easy and convenient, and I barely touch my HY savings account (I have ~6 months of emergency money and I do not interact with it) so it's not worth it to have them together when you'd have to hunt down an in-network ATM or brick and mortar locations. When you have random things like needing an immediate $25k+ bank check to lock down an apartment rental, send wire transfers, grab cash at an ATM and not walk 10 blocks... etc I just prefer to have the convenience.
I have less than $10k in my checking account unless I'm doing some transaction, don't really care about the interest on that nominal amount - the excess in my account goes to my trading account or emergency fund in a HY savings account
You really won't be dealing with your savings account on a daily basis, just taking 30 seconds to transfer, so I would split them. I would max out checking convenience with something like Chase/BofA, forget about the interest on that small amount in there, and then put emergency savings in your preferred HY account (Marcus, Capital One, whatever)
Depends what you're looking for. I mentioned this on a thread a couple of days ago, but I'm currently using Enzo Wealth, which pays out 2.87% interest. It has some mildly useful cashback stuff, but the real draw is the interest. I'd still plan to have an account with a larger bank for the access and integration they have (+ ability to wire). It really depends what you're looking for. If the goal is overall convenience then I've heard good things about Chase. If the goal is earning on your cash then I'm happy with Enzo checking.
You can also browse through opening account bonuses at different banks (I think Citi has one of the better ones atm), but given the hassle that opening and closing bank accounts can be, I personally prioritize the benefits that I'll get YoY
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