I finally got around to opening an ED account but stopped in the middle due to some website concerns. After allaying my concerns and approving the website I decided to check Vanguard's current MM fund yields. Vanguard Prime
is at 3.73% now, and ED
is at 4%.
My longer term thoughts include investing in nonretirement Vanguard stock and bond funds, so I figure on opening a nonretirement account with them sooner or later (already have 401(k) and IRA going with them).
I don't intend to chase yield around (much) but want my money working as it should.
I like ED's higher yield but am familiar with Vanguard and already have online services there via my retirement accounts.
Any thoughts as to how Prime will compete with ED's rates going forward or what convenience and familiarity is worth in lieu of yield? I'm talking about less than $10k at the moment, and I'm moving it from an 0.75% yield account...before recent months there wasn't enough money to care about yields. This money needs to stay liquid, secure and available over the next 12 or so months.