# On-line savings.



## Snowfan (Nov 6, 2011)

We had a meeting with our financial advisor yesterday. The discussion turned to the terrible interest rates the banks are paying on savings accounts. It looks like some on-line banks are paying up to 2%. Not great, but better than our bank.

The two I consider decent are Capital One and Discover.

Do you have an opinion or experience with these banks? I would appreciate your input.

Thanks.


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## DisasterCupcake (Jan 3, 2015)

I've used both Capital One and Discover for small credit lines and their rates are good, as far as that goes. Capital One also has great customer service. 

Can't say that I've ever used them for a savings account. If your financial advisor isn't at least giving you the option for self custody via crypto I'd find a new one. Or just go crypto instead of dirty fiat


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## Hiro (Feb 14, 2016)

I have had Discover checking and savings accounts for years. I recommend them for anyone interested in online banking. The one issue that I had to call and speak to someone, I didn't have to wait and the call center spoke English that I could understand.


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## Danaus29 (Sep 12, 2005)

Discover used to be really bad about not mailing statements, answering phones or resolving issues. I'm glad to see they have improved since I had a credit card account with them.


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## frogmammy (Dec 8, 2004)

I let Discover know right away when DH died. Three days later I received a call, asking when the account would be paid off. I replied that maybe we should BURY him first?

Paid them, canceled the card. Won't get another or have anything to do with them. Cap One can be troublesome, but if you pay attention, won't be a problem.

Maybe that's just a credit card thing.

Mon


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## 012345 (6 mo ago)

I have a close friend that is the President of a bank. She said "Want to make money, put your money in a credit union". "Want to borrow money, use a bank." My Credit union went down on interest when the fed rates were so low but now they are back to giving 3% on my savings there.


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## Solar_Toad (10 mo ago)

we use Synchrony bank and Wealthfront as our two online savings accounts.

so far, between the two of them, they have consistently had the highest interest rates we have found on savings. sometimes one is higher than the other, but it's by such as small amount, it doesn't really matter, even if you kept over $100,000 in it.

wealthfront is nice, because you can link all other accounts with it, and it helps to track, graph, and manage your financial landmarks and goals.

we have been using them for about 5 years, with no issues.


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## Micheal (Jan 28, 2009)

We had a Discover acct. - after the wife passed I had no real use for the card or the on-line acct so I canceled both. 
Don't think they are any better nor worse then most the other major ones...


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## stacieh (Jul 21, 2016)

I have a Citi savings account that pays 2%. The only experience I have with Discover is their credit card; no complaints.


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## boatswain2PA (Feb 13, 2020)

I try to stay away from the big banks as much as we can.

We have high-yield savings bank at Synchrony bank getting 2.25% right now. 
12 month CDs at 3.15%
15 month CDs at 3.5%. 
Rates actually come down a bit for 18-24 month CDs, but then back up to 3.5% for 36 month, and up to 3.61 for 60 month.

We are locked into a 30 year fixed rate mortgage at 3% that we have to start paying in a month when our new house is done. We have generally enjoyed being debt free and planned on paying the mortgage off as fast as we can, I'm hoping to ride the interest rate tide and get me some 8% CD's.


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