#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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Best Bank Account Setup to Earn Interest on All Your Cash | All the Hacks with Chris Hutchins podcast - Listen or read transcript on Metacast
