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Is inflation the goal here, or is it comparison to other HYSAs? If no HYSAs match inflation, it's not really reasonable to compare this one to it, no?
by martinky24 4y ago
Is inflation the goal here, or is it comparison to other HYSAs? If no HYSAs match inflation, it's not really reasonable to compare this one to it, no?
- Zandikar 4y ago> it's not really reasonable to compare this one to it, no? Are the fees, minimums, limits and rate structures similar? If so, then the inflation thing is irrelevant. They either beat it or don't, but at the end of the day, you're still comparing who has the better APY and what not regardless of that differential on inflation. If HYSA's (which this is, by reasonable metrics and their own definition) beating Inflation is important to you, that's a separate discussion to be had first before shopping specific offerings, as that's a discussion of a systemic problem and if HYSA's are relevant to you at all in the first place. Hot tip, in high inflationary markets like today, HYSA's don't beat inflation.
- howinteresting 4y agoSeveral other financial institutions offer similar or higher yields with higher FDIC insured limits (eg Betterment's cash reserve), with the additional advantage that the account isn't locked to a particular hardware vendor.