Flopcandy OP t1_je2vnr8 wrote on March 29, 2023 at 12:33 AM

Reply to comment by fly_eagles_fly in [Beginner] In my location, my bank (PNC) has a savings account interest rate of 0.03%. Capital One is 3.4%. American Express is 3.75%. Is there any reason not to switch to one of those? by Flopcandy

In fact, I'm not sure when I'd ever need a physical branch to walk into.

But if I did-- Is it okay to keep most of my money in an online bank & transfer it to my PNC account whenever I need a brick-and-mortar? Like is that legal/will there be random charges for this/etc

Flopcandy OP t1_je2pz9k wrote on March 28, 2023 at 11:51 PM

Reply to comment by Werewolfdad in [Beginner] In my location, my bank (PNC) has a savings account interest rate of 0.03%. Capital One is 3.4%. American Express is 3.75%. Is there any reason not to switch to one of those? by Flopcandy

Just to be clear: Are all of these banks/CU's safe? Does being FDIC-insured (as all of these are) imply that my money is safe no matter what, as long as its <= 250k?

(Just want to make sure none of these are shady + worried after the recent bank failures.)

Flopcandy OP t1_je2p6lb wrote on March 28, 2023 at 11:45 PM

Reply to comment by urby3228 in [Beginner] In my location, my bank (PNC) has a savings account interest rate of 0.03%. Capital One is 3.4%. American Express is 3.75%. Is there any reason not to switch to one of those? by Flopcandy

Looks like it's only available in certain states, and unfortunately that doesn't include my state of New York.

They do have money markets & CD's, but both are <= 2.00%.