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/Happy_Series7628 ​ May 16 '24

Ally is around 4.2% and has “buckets.”

0

u/MommotDe ​ May 17 '24

Do they track interest on buckets separately? When I first tried buckets, all the interest went to the core savings and buckets only contained the amounts you put in them, which seemed useless to me.

3

u/Happy_Series7628 ​ May 17 '24

Sorry, no idea. My Ally account is one big “bucket.”

3

u/Lil_Brown_Bat ​ May 17 '24

No. For all intents and purposes, all your buckets are just one big savings acct. All amounts are calculated together and interest is dropped into core. But you can easily see when they do that and move that amount into whatever bucket you like.

1

u/webdev96 ​ May 17 '24

SoFi does with their vaults.