Quote:
Originally Posted by DawgMan
Curious, for those of you who have used these online banks over the years, what has typically been the spread between competing banks? It looks like today its around 20% (.50% vs .60%). On $300K cash, that extra 20% pays you an extra $300 ($1800 vs $1500)... perhaps a nice dinner with DW? Obviously, as you said, chasing .10% is allot of brain damage. How often does one of these top yielding banks tease with a high yield and then fall to the back of the group? I suppose the Max site keeps you always in the highest yielding account and suggests the net yield after their fee is still above what you can get on your own.
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I choose to simplify things and use only Capital One and Ally. They are almost always among the best in yield, and if the spread is great enough I will move them between the two. Wen rates were higher the spread was a little bigger - I don't track them but I thought at one point Ally was greater than Capital One by more than 20%.
Going beyond what I do might get me a little more, but I am fine with what I have for now.