What bank do you guys use for your savings account? My pathetic

m8, you will not find a savings account that gives you a decent interest rate

>>1900152
I know. I just want whatever is the best

Where else should I keep my emergency fund except a savings account?

>>1900159
no joke, hide cash somewhere

>>1900165
Awesome thanks anon I'm going to keep 20k flammable paper cash in my apartment that maintenance workers can enter at any time

>>1900166
wowee if your emergency fund was 20k then you wouldn't be asking what to do with it on a fuckin taiwanese sweater knitting forum

you also probably wouldn't be living in an apartment

so fuck off with your shit bait, stick the money up your arse hole, and save it there

>>1900165
This. The only reason to hold $ in savings is for the security. It's damn sure not for the interest. I keep $1,000 cash at home hidden away for emergencies, and if I wasn't so paranoid about it being stolen I'd keep more

>>1900144
I do Wells Fargo too but there are some that give 1.11% interest per year.

But OP let me tell you something. You want to put your savings into a money market fund. They get 1-3% interest per year. You are guaranteed not to lose any money the same way you are with savings accounts so it's just a smarter decision. And you have the same liquidity as with savings. So you can withdraw your money or write checks or whatever any time. Really no good reason not to put your money into a money market fund instead of savings and get that extra 1-2% interest.

Also, if you're really set on savings, look up nerdwallet's best interest for savings accounts and just deposit into the top one they recommend. Pretty simple.

>>1900172
My emergency fund is 20k and I asked almost the same question as the OP like a week ago.
>>1900174
I also live in an apartment. 20k is pretty standard for emergency fund.

My answer is money market funds. Look into them OP because they are like savings accounts but with the better interest and essentially no more risk. They are guarenteed by the bank not to lose you any money. However, there has been one time, I think just one time in history, where someone lost like 1% of their account and now even more provisions have been put in place so it never happens again. They are as safe as your savings account. Read the investopedia article about them.

>>1900172
>>1900174
>>1900177
Well it is and I am, and houses here are like 700k minimum and I just graduated so why would I not live in apartment

>>1900194
stick the money in your asshole

>>1900201
Do you do that? Wouldn't it get all soggy and brown, not to mention diseased? Do you have to launder it with soap before you use it? Is this what "money laundering" is? Where you launder the money that has been in your asshole? Holy crap how did I not know that

>>1900194
I'm telling you man. Money Market Funds are where you want to store your emergency money.

If you dont' like that google "nerdwallet highest interest rate savings accounts" and put it there, but money market funds give you all that and at a slightly (1-2%) higher interest rate so you may as well do that instead.

Of course, I'm assuming like most people liquidity is necessary for you, otherwise I'd say the usual options like CDs, bonds, etc. But for emergency funds, you want to have that money ready the second you need it for something like medical disaster, unemployment, etc., of course.

>>1900205
>>1900190
I see anon, thanks. Looking into them right now.

>>1900204
i do what i suggested you dumbass
>>1900165

>>1900210
http://www.investopedia.com/articles/mutualfund/07/money_market_savings.asp


Read this exact article. Just read it.

You might see some fear mongering about them on other sites. Ok, this article helps explain why. Also remember you want Money Market FUNDS not a Money Market Account. While they are very, very similar some firms make a distinction and you will get very different results with a money market "account". Make sure it's a money market fund. Read the investopedia article though.

Again, if for whatever reason you decide it's not for you, NerdWallet has a page on highest yielding savings accounts you can compare to.

Good luck.

>>1900224
>Also remember you want Money Market FUNDS not a Money Market Account

What about a "Money Market MUTUAL Fund"

Best savings account is kraken.com

>>1900239
Oh. Haha. Wikipedia says they're the same thing.

>>1900261
this dude has been shilling money market funds before as well

like any other mutual fund it is NOT:
>federally insured
>guaranteed to pay interest
>guaranteed to preserve principal
>free of fees

OP, stop getting advice from 4chan you moron

>>1901246
And barring certain high net income / tax exempt situations, in today's interest environment, an fdic insured money market account is going to generate more income than a money market fund. Compare current rates at capital one 360 vs Vanguard money market funds, for example.

Just go to a credit union or hide money in your house. Banks are a fucking waste of time.

>>1900144
Goldman Sachs

>>1901246
>federally insured
It's guaranteed by the SEC and is just as safe as a savings account. This is a psychological barrier only as nobody ever actually loses any money in a money market fund, and the one time they did it was like 1%
>guaranteed to pay interest
The interest is almost always higher than savings accounts. Almost always
>guaranteed to preserve principal
This is just not true. Money market funds are guaranteed to preserve your principal, unlike other mutual funds.
>free of fees
Again, these are covered by the interest. Savings accounts aren't necessarily free off fees either.

File: 1411647687066.png (547KB, 1312x598px) Image search: [Google]

547KB, 1312x598px

>>1901594
>It's guaranteed by the SEC
no
it's regulated by the SEC and has SIPC insurance to protect against institutional risk
that is not at all the same as FDIC our NCUA and does not protect your principal investment

>and the one time they did
>guaranteed to preserve your principal
>almost always higher than savings accounts
>-1.00%
>covered by the interest
> 1% vs < -1.00%

nevermind the fact that you have to hold mmf's in a brokerage accounts with way longer settling periods than what you'd need for a quick-access liquid emergency fund