Marcus High-Yield Savings Account rate now 0.6%

[atdharris]

Looks like Marcus bumped their rate to 0.85%. I didn't get an email with that announcement.

[MikeG62]

Looks like Marcus bumped their rate to 0.85%. I didn't get an email with that announcement.

I suspect this is in response to Ally raising their rate to 0.75% last week. It's good to see.

With the AARP bump that's now 0.95% and with a 50bp referral bonus, I am currently at 1.45%!

[atdharris]

Looks like Marcus bumped their rate to 0.85%. I didn't get an email with that announcement.

I suspect this is in response to Ally raising their rate to 0.75% last week. It's good to see.

With the AARP bump that's now 0.95% and with a 50bp referral bonus, I am currently at 1.45%!

I'm sure, because they just had bumped it to 0.7% after the last Fed hike. That's why I like Marcus. They seem to move to have the highest rates among the bigger HYSA banks like Amex, Ally, Discover, etc.

[Cheez-It Guy]

Marcus moved HYSA to 1.00% as of this morning.

No email notification of any recent moves up, but that's OK as long as they keep moving up. They're not the highest of anyone, but I'm not jumping to a no-name with a currently attractive rate just trying to vacuum up capital and likely lagging in the future. For now, my big question is how well will Marcus HYSA keep pace with Vanguard Federal Money Market Fund (VMFXX). Even with today's increase, it continues to lag. Might have to jump back to money market sooner than later.

[centrifuge41]

Yep, even at 1% (above Discover's 0.9% now), Marcus is behind Vanguard Federal MM, which yields 1.27% now. Federal MM yielded 0.76% just a week ago, so it has jumped up fast.

[atdharris]

Marcus moved HYSA to 1.00% as of this morning.

No email notification of any recent moves up, but that's OK as long as they keep moving up. They're not the highest of anyone, but I'm not jumping to a no-name with a currently attractive rate just trying to vacuum up capital and likely lagging in the future. For now, my big question is how well will Marcus HYSA keep pace with Vanguard Federal Money Market Fund (VMFXX). Even with today's increase, it continues to lag. Might have to jump back to money market sooner than later.

I actually expected more of a bump given we had a 75bp hike, but it still higher than Ally and Amex (as of today).

[ChiKid24]

Marcus moved HYSA to 1.00% as of this morning.

No email notification of any recent moves up, but that's OK as long as they keep moving up. They're not the highest of anyone, but I'm not jumping to a no-name with a currently attractive rate just trying to vacuum up capital and likely lagging in the future. For now, my big question is how well will Marcus HYSA keep pace with Vanguard Federal Money Market Fund (VMFXX). Even with today's increase, it continues to lag. Might have to jump back to money market sooner than later.

I actually expected more of a bump given we had a 75bp hike, but it still higher than Ally and Amex (as of today).

Agree also expected more. Wealthfront bumped theirs to 1.40% last week. But I'm getting a 0.5% referral bonus with Marcus so 1.50% after that is more attractive.

[Marseille07]

Geez people, we'll see 1.3% by the end of August

[ChiKid24]

Marcus website showing 1.2% now. Guessing an email alert will follow shortly.

[exodusNH]

Geez people, we'll see 1.3% by the end of August

Vio just bumped their money market (FDIC-insured) to 1.3%.

[Mainlandjones]

Citizens Access HYSA has been at 1.25% since June 17.

I don’t see them mentioned often on these threads, so fyi I have found their website very simple and easy to use, and their rates have been competitive.

[wbarabas]

Comenity bank is at 1.64%

[MikeG62]

Marcus website showing 1.2% now. Guessing an email alert will follow shortly.

Indeed it is. Thanks for the heads up.

I am at 1.80% now - 1.20% + 10bps for AARP + 50bp referral bonus (good for another month).

[patrick]

BrioDirect is now at 1.8%.

Enzo pays 1.49% scheduled to increase to 2.15% on Aug 1, and they also give 1% cashback on Paypal purchases allowing you to double dip rewards if you pay off a rewards credit card with Paypal Bill Pay.

[tim1999]

The 1.2% is great on my savings there, but now I feel like an idiot for locking up money in their 1.10% 10-month CD a few months ago, despite that being a great rate at the time.

[UpperNwGuy]

The 1.2% is great on my savings there, but now I feel like an idiot for locking up money in their 1.10% 10-month CD a few months ago, despite that being a great rate at the time.

I refuse to buy CDs or individual treasuries while rates are rising. I don't want to lock up money at rates that seem good now but later will seem low. I'm sticking to high yield savings and bond funds so I can keep up with the rising rates.

[isira]

Marcus website showing 1.2% now. Guessing an email alert will follow shortly.

Have they been sending emails? I haven't gotten a single email from them during this rise.

[Tom_T]

The 1.2% is great on my savings there, but now I feel like an idiot for locking up money in their 1.10% 10-month CD a few months ago, despite that being a great rate at the time.

I refuse to buy CDs or individual treasuries while rates are rising. I don't want to lock up money at rates that seem good now but later will seem low. I'm sticking to high yield savings and bond funds so I can keep up with the rising rates.

Rates have been falling for two days.

[ChiKid24]

Marcus website showing 1.2% now. Guessing an email alert will follow shortly.

Have they been sending emails? I haven't gotten a single email from them during this rise.

Yes. Got the email this morning confirming the increase in rate. Believe I've gotten one for each rate increase.

[AerialWombat]

The 1.2% is great on my savings there, but now I feel like an idiot for locking up money in their 1.10% 10-month CD a few months ago, despite that being a great rate at the time.

I refuse to buy CDs or individual treasuries while rates are rising. I don't want to lock up money at rates that seem good now but later will seem low. I'm sticking to high yield savings and bond funds so I can keep up with the rising rates.

Why not use 13-week T-bills? Those are very attractive compared to HYSA, and it’s only locked up for 3 months.