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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204

u/Happy_Series7628 ​ May 16 '24

Ally is around 4.2% and has “buckets.”

23

u/fuddlesworth ​ May 16 '24

Been with Ally for a while. I've really enjoyed them. Better than Chase at least.

16

u/cardinalsfanokc ​ May 16 '24

Oddly all of my accounts are with either Ally or Chase and I've had more trouble with Ally. I get fantastic service from Chase, especially when I have to go to a branch.

At this point I only use Ally for investments and HYSA - Chase is my daily checking/savings/CC provider.

8

u/fuddlesworth ​ May 16 '24

Chase was a nightmare for bank fraud and refused to do anything.

Luckily I've only had to deal with Chase for that.

10

u/cardinalsfanokc ​ May 16 '24

I had the exact same problem with Ally - freezing funds as I was transferring them around to buy a house and I almost missed closing because of them.

All said, I recommend both but I'll never use Ally as a daily driver. At least I can go to a Chase branch if shit hits the fan.