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Sure that is certainly probably the most secure solution, but I assume that only really works for banks and credit unions with branches local to you? I guess y
by throwawaybank 8y ago
Sure that is certainly probably the most secure solution, but I assume that only really works for banks and credit unions with branches local to you? I guess you could arrange for wire transfers over the phone, but I feel like that is even less secure in some ways.
Unfortunately, it would seem with going with local banks is not really viable if you are attempting to maximize interest. BoA offers 0.03% and Wells Fargo 0.01%, and a local credit union is offering 0.20%. When there are banks offering over 2% interest, going with such ridiculously low interest is difficult to justify.
But indeed, it could be argued that going with a bank with poor 2FA negates the advantage of the extra 1.8%.
- JumpCrisscross 8y ago> BoA offers 0.03% and Wells Fargo 0.01%, and a local credit union is offering 0.20% If you can plan, buy Treasuries.
- throwawaybank 8y agoIndeed, but that's the whole point here. This is money for when things unexpectedly go wrong, so it must be liquid. Yet it is also painful to let it slowly succumb to inflation as well.
- mars4rp 8y agotry this https://www.americanexpress.com/personalsavings/ https://www.americanexpress.com/personalsavings/ they should have good security in place.
- throwawaybank 8y agoUnfortunately, no, apparently they don't even offer 2FA via SMS :-/