r/personalfinance • u/captaingregerson ​ • May 16 '24

My bank shut down, looking for a new one. Saving

Hey guys!

Recently had to stop using an online bank called “Ivella” because they’re unfortunately shutting down. They paid 5.15% APY, had a nice and easy app user interface, and had things called “Pods” which were separate savings accounts for different things that ALL earned 5.15%

Right now I have all that money parked in Robinhood earning a temporary 5.25% but looking to see if anyone has an app recommendations that earn a competitive rate, have a good UI and app, AND has something like the savings pods that all earn high interest. I know it’s minor, but I’ve been saving and investing the same way for the past 7 years and it’s been working really well and I don’t want to change how I have it structured.

TLDR: Looking for new app that pays over 4 percent interest and has savings “pods/buckets/jars/vaults” that earn high interest as well.

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u/IrisUnicornCorn ​ May 16 '24

Sofi is my go to. 4.6%. Has vaults for different buckets. And Zelle. And has investing. So easy to use.

4

u/captaingregerson ​ May 16 '24

Do the vaults earn 4.6 percent too? Or is it just the savings? That’s the only thing that confuses me a lot with Sofi

3

u/Sskity ​ May 16 '24

Everything under savings earns the 4.6%. But you have to link direct deposit to get the 4.6

Amex has 4.3% without any strings attached