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In response to
"zoom zoom -- nm"
by
oblique
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That thing on current from B2 - it's not really much of a deal (maybe good for a teen starting out but that's about it)
Posted by
decline (aka Decline)
May 5 '22, 12:33
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“Current is taking the path of offering a much higher-than-average interest rate, but there are strings attached. Consumers can earn 4% on up to $2,000 for three different “Savings Pod” subaccounts, which means they could earn up to $240 in interest per year if they meet all of the balance maximums,” Bessette said. “It’s important, however, to take note of the $4.99 monthly fee for the Premium Account that lets you add those extra Savings Pods. This fee ends up being close to $60 per year, so in order to make the fee-versus-interest math work out, you’ll want to earn more interest than you pay in fees. We typically don’t like to recommend accounts that have monthly fees, but in the case of Current, it seems like consumers can cancel out the fee and earn quite a bit of extra cash as long as they keep their account balances high,”
So If I understand correctly, your capped at 6K / year and need to keep it all there the entire time to earn a net 3% after fees. Also, they can change that 'promotional' APY at any time they want.
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