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TIL my bank's new high-yield savings rate is way lower than the online-only options
Honestly, I had to pick between my local Chase account at 0.01% and opening a new one with Ally Bank at 4.25%. I went with Ally last month and already earned over $50 in interest on my $15,000 emergency fund. Has anyone else made a switch like this and had a good or bad experience with the online bank's customer service?
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betty_ward6mo ago
It's crazy how much money you leave on the table with the big banks. I moved my savings from Wells Fargo to a Capital One HYSA and the difference is night and day. The only downside is you can't walk into a branch, but their online chat has solved my issues faster than waiting in a teller line ever did.
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gavin_burns496mo ago
Totally agree. Forgot what a physical branch even looks like. The chat support is a game changer, solves stuff in minutes.
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ben_shah935mo ago
Hell yeah! @gavin_burns49 is spot on. I did the same thing with my savings last year, moved from Bank of America to an Ally HYSA. The interest difference was just embarrassing, like hundreds a year for doing nothing. And I actually like not dealing with a branch. Had an issue with a transfer last month, hit up their online chat, guy fixed it in five minutes. No driving, no parking, no waiting behind someone arguing about a fee. Night and day doesn't even cover it.
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