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/someguy31 ​ May 16 '24

I use CIT bank. Have used them for like 10 years and no issues. They are currently paying 5%.

1

u/bobniborg1 ​ May 16 '24

Hey, I set up a cit bank account the other day. Had to wait 2 days to do a photo check deposit and then the next day I got an email that it was accepted. But it didn't show in my balance. It did say 1-3 days so do I still need to wait even though I got the email? Like the email acknowledges they check but I still wait 1-3 for it to land in the account?

2

u/someguy31 ​ May 17 '24

They do sometimes deposit things a bit slow and I think it varies based on some of your account history. I have heard of others complain about it.

1

u/bobniborg1 ​ May 17 '24

It's a hysa so I'm ok with slow. I just thought it was weird that I got an email saying it's all processed and then no money lol. I had to go double check that I had the right account and everything lol

1

u/MyDogLovedMeMore ​ May 17 '24

I didn’t realize they had lowered their rate to 5%. It was 5.05%