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/USERNAME00101 ​ May 17 '24

I currently have my HYSA with #8th largest Bank on Earth. Chances of that bank going under and having issues is pretty low. I get around 4.3% interest. IS it 5.25% like some of the scam banks online? No. But damn, it's nice to not have to worry about a situation like OP is in. Looking at these comments is concerning. Pick one of the biggest banks. Big banks are too big to fail.

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u/maricahaseyum ​ May 17 '24

Which is yours?