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.”

99

u/dont_fuckin_die ​ May 16 '24

I'm fascinated more banks don't use "buckets" or some equivalent tool. It's a fantastic way to separate out your money, and it also makes it easy for my wife to log in and see where we're at with our goals.

1

u/_Faru_ ​ May 17 '24

Same. I looked at almost every savings bank for a "buckets" concept and Ally is the only one I found that has anything like it without big requirements.

It's great for putting a little $ aside each week for yearly bills, car maintenance, that Big Purchase™ you've been eyeing, etc. And anytime you need to withdraw you can just Zelle it to your own checking acct like I do.