Description
#177: Chris shares the best accounts to replace your checking account and maximize interest earning. He evaluates must-have banking features, compares 10+ bank accounts, assesses the pros and cons of switching accounts, offers automation tips to elevate your banking experience and so much more.
Link to Full Show Notes: https://allthehacks.com/best-bank-accounts-high-interest
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Resources Mentioned
All the Hacks
Membership
Bank Bonuses
Episodes #62: Protect Your Family, Mitigate Taxes and Preserve Your Wealth
All-in-One High Yield Accounts:
Fidelity Cash Management (SPAXX coming June 15)
Wealthfront Cash Account (Get 5.5%)
U.S. Bank Elite Money Market
TransferWise (For international transactions)
High Yield Savings + Checking w/ Overdraft:
Mercury: Enter giveaway to skip the waitlist for Mercury Personal
SoFi
Capital One
Discover
CIT Bank
Ally Bank
Robinhood: Spending | Investing
Schwab Checking Account
Recurring Transfers: Zelle App
Personal Finance Tracker: Copilot (Get 2 months free with code HACKS2)
Wealthfront:
Automated Bond Ladder + Calculator
Automated Savings Plan
Full Show Notes
(00:00) Introduction
(03:29) Must-Have Features in a Primary Bank Account
(09:23) Tiebreakers to Consider for a Bank Account
(14:43) High-Yield Savings Accounts
(17:41) Regular Checking Accounts
(21:43) The Most Optimal Way to Use a Bank Account
(24:54) Comparison of Banks with Main Features You Need
(28:50) Robinhood's Investing & Spending Accounts
(30:52) The Difference Between Bank Accounts and Investment Accounts
(33:25) The Schwab Checking Account
(38:39) Unique Features of Mercury
(44:33) The Wealthfront Individual Cash Account
(46:15) U.S. Bank's Elite Money Market Account
(47:17) Fidelity Cash Management Account
(53:24) Chris' Top 3 Bank Account Recommendations
(56:42) Is It Worth Switching Bank Accounts?
(58:45) Simple Steps to Automate Your Financial Life
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Chris Hutchins: X | Instagram | Website | LinkedIn
Editor’s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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