Highest interest savings account

[incendia]

I was mistaken regarding the interest. From the FDIC website: "FDIC insurance covers depositors' accounts at each insured bank, dollar-for-dollar, including principal and any accrued interest through the date of the insured bank's closing, up to the insurance limit".

However, if for example someone were to open a 5 year CD with a 5% interest rate and the bank collapses after 1 year - the issue is that at that time he may not be able to find such high rates anymore.

It might depend on how the FDIC structures the buyout. its possible that the whole CD will transfer to the new bank. It's also possible that the buying bank will demand to break all the CD's to restructure the risk and costs.

[sillypainter]

Robinhood gold is now 4.9%. FDIC insurance is 2 million because they use 8 banks.

[Yo ssi]

[HoKo]

@Yo ssi  - Do you have an account w/ Primis? If so, how has your experience been. Would you recommend them?

[Yo ssi]

@Yo ssi  - Do you have an account w/ Primis? If so, how has your experience been. Would you recommend them?

I do, no issues so far.

[av83]

[Yo ssi]

Not sure if I'd be willing to open an account which has an offer which expires in 5 minutes..

[Bored Bachur]

Not sure if I'd be willing to open an account which has an offer which expires in 5 minutes..

not sure where you pulled that out of

[Yo ssi]

not sure where you pulled that out of

Oops totally read that wrong

[Yo ssi]

Good afternoon!  
 
By now, I hope you know how much I enjoy communicating with customers and I have some positive news to share. 
 
Our digital account opening is now available again for current customers. Hundreds of customers have been anxiously awaiting this, and we are excited to make it available again. You may be wondering why we paused digital account opening in the first place. 
 
The initial response to our product and platform earlier in the year was a wonderful surprise, but it put a significant strain on our ability to deliver the top-notch level of customer service we are committed to and passionate about. We had to make it right. That’s why we paused to completely rework our customer care experience. Here’s what we’re doing differently:

*   More Team Members: We’ve restructured and reorganized our customer care team members so that we can work more efficiently to help you. We have drastically reduced our wait times and many of you have noticed and reached out in the last few weeks. But we aren’t done – we are continuing to fine tune our approach so that you are confident in our service and our approach. 
*   We Are Starting with Referrals Only: Some banks spend millions of dollars on traditional advertising promoting their accounts. We’re taking a different approach by giving that money to you for referrals and building a service you can confidently refer to those around you. Rather than opening accounts broadly, we are prioritizing you and your network of friends, family, and associates. Next week, you’ll receive an email inviting you to our referral program where we will be paying you a referral bonus when someone you invite opens an account. More details to come.  
*   1,000 Accounts: For now, we are only opening 1,000 new accounts per month. As we approach that limit, we’ll reevaluate our service levels and our results. Delivering a reliable customer experience is paramount to earning customer referrals and we have confidence in our support level and our systems at this level of growth.
*   Enhanced Chat: Our Virginia–based call center team is always available by phone and email 24/7 all year long, and we’ve also made significant improvements to our online chat experience.
*   Robust Security Measures: Not much surprises me anymore, but the pace at which fraudsters are attacking our industry is shocking. Our team is placing more advanced security guardrails on the backend, and we want you to be more vigilant upfront. Our online security center is a great resource, and I urge each of you to stay educated on the latest scams for the sake of your family and friends.  Use us to help…we are standing by and ready.

Over the past months, I’ve texted, called, emailed and visited hundreds of our customers in their hometowns all around the country. These conversations are dear to me and many of you are seeing your suggestions and ideas become a reality. Thank you for the interest in our bank and for your insights as we build something together!  
 
Dennis Zember 
President and CEO, Primis Bank

If anyone would like a referral when I get one please PM

[Joel]

If anyone would like a referral when I get one please PM

PSA: Early June Primis went and froze some peoples accounts.

[Yo ssi]

PSA: Early June Primis went and froze some peoples accounts.

That's not good. Where's the DPs?

On a different note, they have remarkable customer service. Definitely beats Bank of America.


ETA
Found it on DoC, I BH didn't.
https://www.doctorofcredit.com/primis-bank-5-03-checking-savings-accounts/

It's definitely not a new bank, it's FCID insured since 2005, the digital bank part is new and can be perhaps where they are having issues.

[lcm]

Personally use wealthfront.
4.8%. they adjust very quickly inline with the fed rate.

They give additional .5 percent for the first 6 months after a referral, so lmk if you want my link:)

[Shauly101]

Vanguard 4.7

[B.D.Da'ehu]

Popular Direct 5.15% and it's $100 minimum deposit

[Spoon]

Popular Direct 5.15% and it's $100 minimum deposit

I would avoid popular. Terrible CS.

[B.D.Da'ehu]

I would avoid popular. Terrible CS.

Interesting. I've had an account with them for a good few years now and spoke with CS a few times without issues.

[Yo ssi]

Marcus now offering 4.30, or 5.30 with referral.

[lcm]

Marcus now offering 4.30, or 5.30 with referral.

Still have this:

wealthfront.
4.8%. + .5 percent for the first 6 months after a referral
 lmk if you want my link:)

[Dan]

https://www.marcus.com/share/DAN-YN5-QNFH

Now 4.5% or 5.5% with referral:

https://www.marcus.com/share/DAN-YN5-QNFH