I'm looking for the best place to stash some cash that could be immediately available without a withdrawal penalty. I went to depositaccounts.com and found the following:
For the highest interest Money Market accounts, they list the following:
AmericaNet Bank, Evantage Bank, and Redneck Bank all providing Money Market accounts yielding 1.1% for balances up to $35K.
AmTrustDirect offers 1.05% for Money Market accounts up to $millions.
Does anyone have exprience with these banks?
Are these accounts FDIC insured?
Are these rates for real and relatively stable or are they a trick to get your money in and then the rates drop precipitously?
Or is there some other gotcha?
These rates are higher than the highest savings account rates. I'm trying to understand why.
Flagstar Bank and SmartyPig offer savings accounts with a 1.0% interest rate. Does anyone of experience using these banks? I have the same questions as above.
Also does anyone have any other recommendations besides Ally Bank (which I am already using heavily).