Skip to content
Menu
Quick & Precise Gear Reviews
  • Home
  • Reviews
  • Running
  • Cycling
  • Drones
  • Travel
  • Shop
Quick & Precise Gear Reviews

As good as it gets for online savings account APY

Posted on May 5, 2023May 5, 2023

For well over a decade, before the recent jump in rates, savings accounts were dead money. The central bank had announced a further 25 basis point interest rate hike on Wednesday June 3 and indicated that rate increases may be paused imminently. Fed Chairman Jerome Powell suggested that it was too early to cut rates and will likely pause the rest of 2023.

With interest rates rising and regional banks suffering, major banks are offering higher-yielding offerings but the highest rates available to savers aren’t coming from traditional financial firms or credit unions, but rather from companies in and around Silicon Valley.

Apple recently launched a high-yield savings account administered by Goldman Sachs, offering 4.15% APY on your savings. Apple Savings could be a good fit for Apple Card users. Unlike many other savings accounts, you’ll need to have an Apple Card in order to access this account. While that amount is more than 10 times the national average APY, it’s not the highest rate available in today’s climate — some accounts earn APYs of 5.00% and a few are starting to brush up against 6.00% APY.

But I’m not familiar or had relationships with a lot of these banks (online and brick & mortar) like Synchrony, Bask Bank, Mango Money, etc. – see Bank Rate website for the latest rates.

Wealthfront Cash Account

My adult kids have savings accounts at Capital One (360 Performance Savings) yielding at more than 3.75% APY. However, I’ve been sitting any extra cash and earning a much higher interest since May 2019 at Wealthfront. Starting May 5, their new APY is 4.55% (they match the Fed rate increases like clockwork).

As with almost all online savings accounts, you can move your money electronically between financial institutions instantly and they’re settled within 3 to 5 business days. But I have not moved any money out of Wealthfront since 2019 – only inflows 🙂

One unique feature is that your money is protected up to $5 million in FDIC insurance ($10 million for joint accounts), both offered through their partner banks. Compare this to $250,000 for traditional banks. How do they do it? Typically, banks provide $250K in FDIC insurance. To provide you with $5 million in FDIC insurance, Wealthfront automatically allocate your money across up to twenty unaffiliated partner banks. This allocation happens behind the scenes and doesn’t impact how you access your money through your Wealthfront Cash Account or debit card. Read the full details here for yourself.

Still have some cash earning less in a traditional bank? Consider moving it to a Wealthfront Cash Account where you can earn safely and stay ready to invest. The Wealthfront Cash Account combines checking and savings features in one account. You can deposit your paycheck, pay bills, use a debit card, and earn interest on your entire balance, no matter the amount. No overdraft fees, no transfer fees, no minimum balance fees.

The Annual Percentage Yield (APY) for the Cash Account may change at any time, before or after the Cash Account is opened.

LIMITED TIME OFFER

Boost your APY to 5.05%! That’s an extra 0.50% interest for 3 months!

When you open and fund a Wealthfront Cash Account as a new client, you and your friend will both get a boosted 5.05% APY for 3 months. And after that, you’ll still enjoy our industry-leading 4.55% APY. There’s no minimum balance requirement, so all you have to do is sit back and watch that interest add up.

Start here!

Wealthfront Cash Account

The information contained in this communication is provided for general informational purposes only, and should not be construed as investment or tax advice. Nothing in this communication should be construed as a solicitation, offer, or recommendation, to buy or sell any security.

Access Newsletter Archives

Minimalist Shoe Reviews

by Brand

Recent Posts

  • Comparison of Xero Shoes Sandals & New Spring Colors

    Comparison of Xero Shoes Sandals & New Spring Colors

    May 7, 2025
  • LEMs Shoes Tariff Buster - 20% OFF Sale

    LEMs Shoes Tariff Buster - 20% OFF Sale

    May 5, 2025
  • Modern Take on the Classic Denim Jacket with Style and Comfort

    Modern Take on the Classic Denim Jacket with Style and Comfort

    April 21, 2025
  • WTGR Gear Giveaway: VIVOBAREFOOT Primus Flow

    WTGR Gear Giveaway: VIVOBAREFOOT Primus Flow

    April 20, 2025
  • Meet the ultra-lightweight road runner from VIVOBAREFOOT

    Meet the ultra-lightweight road runner from VIVOBAREFOOT

    April 19, 2025
  • The Minimalist Hiking Shoe That’s Changing the Game

    The Minimalist Hiking Shoe That’s Changing the Game

    April 17, 2025
  • Be the First to be Alerted of Gear Giveaways

    Be the First to be Alerted of Gear Giveaways

    April 17, 2025
  • This One Strength Trick Could Turn Back the Clock on Aging

    This One Strength Trick Could Turn Back the Clock on Aging

    April 14, 2025
  • Comparing LEMs Shoes Spring 2025 Models

    Comparing LEMs Shoes Spring 2025 Models

    April 1, 2025
  • Are Woodies Performance Pants the Best Travel and Everyday Wear?

    Are Woodies Performance Pants the Best Travel and Everyday Wear?

    March 29, 2025

SPONSORED

Never Miss A Post

Join our mailing list:

Post Archives

  • May 2025 (2)
  • April 2025 (7)
  • March 2025 (11)
  • February 2025 (1)
  • January 2025 (4)
  • November 2024 (16)
  • October 2024 (10)
  • September 2024 (7)
  • August 2024 (6)
  • July 2024 (4)
  • June 2024 (6)
  • May 2024 (4)
  • April 2024 (5)
  • March 2024 (1)
  • February 2024 (1)
  • January 2024 (1)
  • December 2023 (2)
  • November 2023 (4)
  • October 2023 (5)
  • September 2023 (2)
  • August 2023 (2)
  • June 2023 (4)
  • May 2023 (7)
  • April 2023 (1)
  • March 2023 (4)
  • November 2022 (6)
  • July 2022 (2)
  • June 2022 (1)
  • May 2022 (4)
  • April 2022 (2)
  • May 2021 (1)
  • November 2020 (1)
  • September 2020 (1)
  • August 2019 (1)
  • November 2018 (2)
  • September 2018 (1)
  • August 2018 (2)
  • June 2018 (1)
  • May 2018 (3)
  • February 2018 (6)
  • January 2018 (2)
  • December 2017 (2)
  • November 2017 (5)
  • October 2017 (1)
  • September 2017 (6)
  • August 2017 (3)
  • July 2017 (3)
  • June 2017 (6)
  • May 2017 (12)
  • April 2017 (4)
  • March 2017 (7)
  • February 2017 (7)
  • January 2017 (3)
  • December 2016 (5)
  • November 2016 (6)
  • October 2016 (2)
  • September 2016 (6)
  • August 2016 (6)
  • July 2016 (6)
  • June 2016 (6)
  • May 2016 (6)
  • April 2016 (1)
  • March 2016 (11)
  • February 2016 (2)
  • January 2016 (3)
  • December 2015 (8)
  • November 2015 (6)
  • October 2015 (10)
  • September 2015 (2)
  • August 2015 (1)
  • July 2015 (8)
  • June 2015 (8)
  • May 2015 (6)
  • April 2015 (10)
  • March 2015 (12)
  • February 2015 (8)
  • January 2015 (12)
  • December 2014 (12)
  • November 2014 (19)
  • October 2014 (10)
  • September 2014 (6)
  • August 2014 (4)
  • July 2014 (8)
  • June 2014 (6)
  • May 2014 (5)
  • April 2014 (7)
  • March 2014 (5)
  • February 2014 (4)
  • January 2014 (9)
  • December 2013 (12)
  • November 2013 (9)
  • October 2013 (13)
  • September 2013 (7)
  • August 2013 (6)
  • July 2013 (8)
  • June 2013 (7)
  • May 2013 (13)
  • April 2013 (6)
  • March 2013 (14)
  • February 2013 (14)
  • January 2013 (13)
  • December 2012 (12)
  • November 2012 (15)
  • October 2012 (14)
  • September 2012 (5)
  • August 2012 (10)
  • July 2012 (13)
  • June 2012 (7)
  • May 2012 (10)
  • April 2012 (5)
  • March 2012 (20)
  • February 2012 (11)
  • January 2012 (8)
  • December 2011 (7)
  • November 2011 (8)
  • October 2011 (6)
  • September 2011 (7)
  • August 2011 (10)
  • July 2011 (8)
  • June 2011 (6)
  • May 2011 (7)
  • April 2011 (10)
  • March 2011 (15)
  • February 2011 (10)
  • January 2011 (4)
  • December 2010 (8)
  • November 2010 (10)
  • October 2010 (1)
  • August 2010 (1)
  • June 2010 (2)
  • May 2010 (7)

Compliance

Review
WTGR received one or more of the products or services mentioned in our reviews for free in exchange for a full test review article in our blog. Some of the links in the review posts are "affiliate links." This means if you click on the link and purchase the item, WTGR will receive an affiliate commission.
Regardless, WTGR will only recommend products or services that will be good for our readers. WTGR is disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: "Guides Concerning the Use of Endorsements and Testimonials in Advertising."
  • Minimalist Running Shoes
  • About Us
  • Privacy Policy
  • Contact Us
  • Where To Buy
©2025 Quick & Precise Gear Reviews | Powered by SuperbThemes | Hosting by Host Gator Cloud