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Finance with Avrin
United States
Приєднався 22 чер 2022
Welcome to Finance with Avrin! On this channel my goal is to provide useful, educational & informative content with a focus on personal finance & investing.
I graduated college in 2008 with a Bachelor of Science in Business Administration: Finance with a minor in Economics. And I’m bringing years of financial experience from studying & implementing, and what I’ve learned from my mistakes & successes.
(All content is for educational and entertainment purposes. Not financial advice.)
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Referral Links
Chime: chime.com/r/avrinross
SoFi Credit Card: www.sofi.com/invite/credit-card?gcp=90b9382f-10f4-4fbb-8f8c-c290657d60ea&isAliasGcp=false
SoFi Checking & Savings Account: www.sofi.com/invite/money?gcp=1118993d-ae35-415b-8617-5b81262adac8&isAliasGcp=false
SoFi Invest: www.sofi.com/invite/invest?gcp=b74ac68d-67dc-4c40-8f93-5dc73904ee45&isAliasGcp=false
Robinhood: join.robinhood.com/avrinr
PayPal: py.pl/26LVHQTOEHp
I graduated college in 2008 with a Bachelor of Science in Business Administration: Finance with a minor in Economics. And I’m bringing years of financial experience from studying & implementing, and what I’ve learned from my mistakes & successes.
(All content is for educational and entertainment purposes. Not financial advice.)
-------------------
Referral Links
Chime: chime.com/r/avrinross
SoFi Credit Card: www.sofi.com/invite/credit-card?gcp=90b9382f-10f4-4fbb-8f8c-c290657d60ea&isAliasGcp=false
SoFi Checking & Savings Account: www.sofi.com/invite/money?gcp=1118993d-ae35-415b-8617-5b81262adac8&isAliasGcp=false
SoFi Invest: www.sofi.com/invite/invest?gcp=b74ac68d-67dc-4c40-8f93-5dc73904ee45&isAliasGcp=false
Robinhood: join.robinhood.com/avrinr
PayPal: py.pl/26LVHQTOEHp
Top 10 High Yield Savings Accounts for September 2024 | Highest APY Rates Ranked List
Best high yield savings accounts with the highest APY & top interest rates available for September 2024. In this video, I list the top 10 savings accounts that offer the most competitive interest rates ranked by APY. There's a new number 1 account and a lot of movement in this list from the last time I did this ranking video in July 2024. In this video I'll give an overview of each account, any balance requirements for the APY, initial deposit requirements or lack-thereof, give calculation examples, and more. Whether you’re saving for an emergency fund, vacation or a big purchase, find out where you can get the most out of your money with my comprehensive rankings, overviews and reviews. Don’t miss out on maximizing your savings potential and putting your money to work for you!
0:00 Intro & Rate Movements
2:11 Common Features & Benefits
5:44 Runner Ups
11:47 Top 10 List
27:12 Outro
CD and Savings Account Rates vs Fed Funds Rate Explained - Affect of Fed Interest Hikes & Cuts📈📉: ua-cam.com/video/6VfSIemBPJA/v-deo.htmlsi=Qja4KqFvMJCB6Bcp
Ivy Bank Savings Account Review & Overview: ua-cam.com/video/sD1W23V6uk0/v-deo.htmlsi=X6V58xkb1onWF_tS
My Banking Direct Savings Account Review & Overview: ua-cam.com/video/F6cCY33uwe4/v-deo.htmlsi=B7mfhHT6g1Sn-BQ2
CIT Bank Platinum Savings Account Review & Overview: ua-cam.com/video/APVIifDjwaA/v-deo.htmlsi=_2EM9pskB_PpbWRh
Betterment Cash Reserve Account Savings Review & Overview: ua-cam.com/video/3Row-U4YGwE/v-deo.htmlsi=rLRDN6d1nVZzU4yz
UFB Direct Savings Account Review & Overview: ua-cam.com/video/Gi3Sqf3HQhc/v-deo.htmlsi=Xf4lBt2Sutdp3K1d
Wealthfront Cash Account Savings Review & Overview:
ua-cam.com/video/_lsIY29M2fM/v-deo.htmlsi=ff2Hl9mxcsVHxelT
Primis Bank Savings Account Review & Overview: ua-cam.com/video/U9JWZJKDJ2g/v-deo.htmlsi=PfSqYbGtGJZc6AMw
Monthly High Yield Savings Account Ranked by APY Lists: ua-cam.com/play/PLUYb2Ee73D8aZiAurNGAFSS_iEMHMkf7U.html&si=2BCTCcGBwGvq_2vf
Monthly CD Accounts Ranked by APY Lists: ua-cam.com/play/PLUYb2Ee73D8bij05cumQPik0LyRTncAjq.html&si=BeQTHPnbgY7065pm
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Referral Links
Ally: Open a new acount with my referral link and earn a $100 bonus: ally.com/referral?code=3J8G7Y3H6M
Chime: We'll both earn $100 when you join Chime and receive a qualifying direct deposit! Learn more. chime.com/r/avrinross
Laurel Road: www.laurelroad.com/refer-hys/?hys_friend=wvj020yw
SoFi Checking & Savings Account: Hello! 👋 Join me to start earning more money with SoFi Checking and Savings. You’ll earn up to 4.60% APY on a Savings Account, 0.50% on a Checking Account and pay no account fees. Use my link to sign up and you’ll get a $25 bonus and up to $250 when you set up direct deposit. For the $25 referral bonus simply fund your account with at least $10 within 5 days of opening your account after clicking the referral link. www.sofi.com/invite/money?gcp=1118993d-ae35-415b-8617-5b81262adac8&isAliasGcp=false
SoFi Invest: Hey! I'm using SoFi Invest 📊 to buy and sell stocks (and pieces of stocks) with zero fees. Open an Active Investing account with $10 or more, and you'll get $25 in stock. I'll get $50 in stock, too! Use my link: www.sofi.com/invite/invest?gcp=8927dcd6-701d-489d-a634-24641274440a&isAliasGcp=false
Coinbase: Sign up for Coinbase using my link and we can each get $10 in Bitcoin coinbase.com/join/ross_50m?
Robinhood: Join Robinhood with my link and we'll both pick our own free stock 🤝 join.robinhood.com/avrinr
PayPal: Hi there! We can both earn $10 cash back (1,000 points) when you accept my invite to PayPal and spend $5 within 30 days. Use my link: py.pl/26LVHQTOEHp
Coinbase: Hey! Have you heard of Coinbase Wallet? Use my referral link and earn up to $40 in quest rewards!
go.cb-w.com/referral?referral_id=zAdKSOEjdStK5g9CchLIqg
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*Not financial advice. For educational and entertainment purposes only.
#highyieldsavingsaccount #passiveincome #savingmoney
0:00 Intro & Rate Movements
2:11 Common Features & Benefits
5:44 Runner Ups
11:47 Top 10 List
27:12 Outro
CD and Savings Account Rates vs Fed Funds Rate Explained - Affect of Fed Interest Hikes & Cuts📈📉: ua-cam.com/video/6VfSIemBPJA/v-deo.htmlsi=Qja4KqFvMJCB6Bcp
Ivy Bank Savings Account Review & Overview: ua-cam.com/video/sD1W23V6uk0/v-deo.htmlsi=X6V58xkb1onWF_tS
My Banking Direct Savings Account Review & Overview: ua-cam.com/video/F6cCY33uwe4/v-deo.htmlsi=B7mfhHT6g1Sn-BQ2
CIT Bank Platinum Savings Account Review & Overview: ua-cam.com/video/APVIifDjwaA/v-deo.htmlsi=_2EM9pskB_PpbWRh
Betterment Cash Reserve Account Savings Review & Overview: ua-cam.com/video/3Row-U4YGwE/v-deo.htmlsi=rLRDN6d1nVZzU4yz
UFB Direct Savings Account Review & Overview: ua-cam.com/video/Gi3Sqf3HQhc/v-deo.htmlsi=Xf4lBt2Sutdp3K1d
Wealthfront Cash Account Savings Review & Overview:
ua-cam.com/video/_lsIY29M2fM/v-deo.htmlsi=ff2Hl9mxcsVHxelT
Primis Bank Savings Account Review & Overview: ua-cam.com/video/U9JWZJKDJ2g/v-deo.htmlsi=PfSqYbGtGJZc6AMw
Monthly High Yield Savings Account Ranked by APY Lists: ua-cam.com/play/PLUYb2Ee73D8aZiAurNGAFSS_iEMHMkf7U.html&si=2BCTCcGBwGvq_2vf
Monthly CD Accounts Ranked by APY Lists: ua-cam.com/play/PLUYb2Ee73D8bij05cumQPik0LyRTncAjq.html&si=BeQTHPnbgY7065pm
-------------------
Referral Links
Ally: Open a new acount with my referral link and earn a $100 bonus: ally.com/referral?code=3J8G7Y3H6M
Chime: We'll both earn $100 when you join Chime and receive a qualifying direct deposit! Learn more. chime.com/r/avrinross
Laurel Road: www.laurelroad.com/refer-hys/?hys_friend=wvj020yw
SoFi Checking & Savings Account: Hello! 👋 Join me to start earning more money with SoFi Checking and Savings. You’ll earn up to 4.60% APY on a Savings Account, 0.50% on a Checking Account and pay no account fees. Use my link to sign up and you’ll get a $25 bonus and up to $250 when you set up direct deposit. For the $25 referral bonus simply fund your account with at least $10 within 5 days of opening your account after clicking the referral link. www.sofi.com/invite/money?gcp=1118993d-ae35-415b-8617-5b81262adac8&isAliasGcp=false
SoFi Invest: Hey! I'm using SoFi Invest 📊 to buy and sell stocks (and pieces of stocks) with zero fees. Open an Active Investing account with $10 or more, and you'll get $25 in stock. I'll get $50 in stock, too! Use my link: www.sofi.com/invite/invest?gcp=8927dcd6-701d-489d-a634-24641274440a&isAliasGcp=false
Coinbase: Sign up for Coinbase using my link and we can each get $10 in Bitcoin coinbase.com/join/ross_50m?
Robinhood: Join Robinhood with my link and we'll both pick our own free stock 🤝 join.robinhood.com/avrinr
PayPal: Hi there! We can both earn $10 cash back (1,000 points) when you accept my invite to PayPal and spend $5 within 30 days. Use my link: py.pl/26LVHQTOEHp
Coinbase: Hey! Have you heard of Coinbase Wallet? Use my referral link and earn up to $40 in quest rewards!
go.cb-w.com/referral?referral_id=zAdKSOEjdStK5g9CchLIqg
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*Not financial advice. For educational and entertainment purposes only.
#highyieldsavingsaccount #passiveincome #savingmoney
Переглядів: 172
Відео
Earn $300 with Regions Bank New Checking Account Bonus Offer! 💵| Step-by-Step Guide 2024
Переглядів 7614 годин тому
Regions Bank easy $300 sign up cash bonus offer review. Ready to boost your bank balance? Discover how you can earn a $300 bonus with Regions Bank's latest LifeGreen checking account offer! In this video, I break down the simple steps to qualify for the promotion and maximize your earnings. I'll cover everything from account setup to meeting the requirements, ensuring you get the full benefit o...
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Quick and easy cash sign up bonus, one of the best available! Fifth Third Bank promo review. Ready to earn a bonus with your banking? Discover how you can get $325 when you open a new Momentum Checking Account with Fifth Third Bank. In this video, I'll walk you through the simple steps to qualify for this exciting offer, steps to obtain the bonus, and highlight some of the benefits of the 5/3 B...
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One of the best easist refer and earn new bank account bonuses available. Earn $100 easy with a new Ally bank account referral bonus review. Are you ready to boost your earnings effortlessly? In this video, I'm unveiling an exclusive Ally Bank Referral Bonus program that lets you cash in on your network! This guide will walk you through everything you need to know to start earning today and exp...
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Top 5 CD Bank Accounts Ranked by APY for August 2024 | Highest Interest Rates & Yields Available
Переглядів 1,5 тис.Місяць тому
Best top CD rates available right now in August 2024. Looking to maximize your savings? In this video, I get into the top 5 Certificate of Deposit (CD) accounts ranked by Annual Percentage Yield (APY) for August 2024. Whether you're saving for a rainy day or planning for the future, these high-yield CD accounts offer the best safe returns on your investment. There's a couple of ties, honorable ...
Capital One 360 Checking Account Sign Up Bonus - $250 New Bank Account Cash Promo
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Capital One 360 Checking Account new bank sign-up bonus promo review! In this video, I'll guide you through the simple steps to qualify for the bonus and maximize your earnings. 0:00 Intro 0:18 Capital One & 360 Checking Account Features 2:26 Step 1 Eligibility & Sign Up 5:38 Step 2 Direct Deposits 8:28 Step 3 Bonus Payout 10:30 Recap & Outro Capital One 360 Checking Account Sign Up Bonus: www....
Ivy Bank High Yield Savings Account Review and Overview - Features, APY & Interest Rate & More 2024
Переглядів 218Місяць тому
A comprehensive review and overview of the Ivy Bank high yield savings account! Whether you're considering opening a new savings account or looking to switch banks, this video covers everything you need to know about Ivy Bank's offerings. 0:00 Intro 0:57 Main Features 6:35 APY & Interest Rate 15:40 Deposits & Withdrawals 26:08 Fees & Limits 34:19 Mobile App 40:25 New Account Eligibility Require...
Top 10 Savings Accounts Ranked by APY for July 2024 - Highest Yields & Interest Rates
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Top savings accounts with highest yields and best interest rates in July 2024. Looking for the best savings account to grow your money? In this video, I get into the top 10 savings accounts offering the highest Annual Percentage Yield (APY) as of July 2024. Whether you're growing your savings, building an emergency fund or planning a big purchase, these accounts could help you maximize your sav...
First Horizon Bank $450 Cash Bonus Promo for New Checking Account Customers - Sign Up Bonus
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One of the best bank sign up bonuses of 2024, easy & simple. First Horizon Bank amazing $450 cash bonus promo for new checking account customers. In this video, I'll walk you through everything you need to know to take advantage of this limited-time offer. With how great this offer is and me being eligible, I'm even doing it myself! 0:00 Intro 0:39 About First Horizon Bank 1:29 Eligibility 5:00...
My Banking Direct High Yield Savings Account Review and Overview - Product of Flagstar Bank
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Highest interest rate & APY saving account. Discover the benefits of the My Banking Direct High Yield Savings Account! My Banking Direct of Flagstar Bank HYSA Review & Overview with a lot of info. In this video I get into the details about this account that offers one of the highest interest rates in the market, helping you maximize your savings effortlessly. Video is organized into chapters be...
Top 5 No Penalty CD Accounts Ranked by APY June 2024 - Highest Interest Rates for Secure Growth
Переглядів 1352 місяці тому
Best no penalty CD account APYs and interest rates available right now in 2024. Explore my curated list of the top 5 Certificate of Deposit (CD) accounts offering the highest Annual Percentage Yields (APY) in the market. These CDs provide a secure way to grow your savings with competitive interest rates and varying terms to suit your financial goals. Whether you're saving for short-term objecti...
Unlock $400 Bonus: Huntington Bank Perks Checking Account Promo Guide! New for 2024
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Переглядів 1,8 тис.7 місяців тому
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Since their promo gonna expire in 09/15/2024.. If I open an account today 09/03 and have the direct deposits in a month do i still get the bonus ?
Yeap if you meet the other eligibility requirements you would still receive the bonus. You just have to open the account by 09/15/24, and then make qualifying direct deposits totaling at least $1,000 within ninety days of account opening.
@@FinancewithAvrin no chance for me, I didn't know that they want u to be close at least 50 miles to one of their locations!! I tried it but there is no location around!! Thank u for ur help 🙏🏼
Jazmin Haven
Lopez Brian Lopez Amy Anderson Dorothy
Thanks for the info, I appreciate it, I am going to keep my eye on Eagle Bank. I was with CIT Bank then jumped ship to My Banking Direct but might go over to Eagle. I have had some luck with something called "Kasasa" checking accounts that give hysa interest rates. You do have to jump through some minor hoops like 1 ach(not direct dep.) and 10 debit transactions per cycle and the rate is usually capped at $25k but the one I found is at 5.84% or 6%apy currently. I think Kasasa is some type of program for small regional banks/credit union to stimulate local growth/ spending so you have to live within a certain range to open one. .
What does this mean.
Just curious have you or anyone received their $450 bonus and if so how long after the account was opened or do we actually have to wait the 90 days.
I’m in the process of obtaining this bonus, and I’ve meet the requirements but it hasn’t been 90 days yet. I’ll update the status of my bonus after that timeframe.
How do u get the interest?
Hey good question, you’ll get paid the interest in your Robinhood account. Also per Robinhood; “You’ll be paid interest once a month on the last business day of the month, which will include interest through the end of the month. If the last day of the month falls on a non-business day, you'll be prepaid interest for those days on the last business day.” “You can keep track of how much interest you’ve earned in the app in Account (person icon) → Menu (3 bars) → Investing → Cash sweep program.”
@@FinancewithAvrin they will go automatically in my buying power?
@@FinancewithAvrin thnk u for the reply
Per Robinhood representative: “Any interest earned on uninvested cash will automatically be added to your cash sweeps, and your buying power for you to use as you wish!” So yeap it would automatically go towards your buying power.
You’re welcome!
Hey man i sent you a DM on instagram
The $5.00 membership makes it unappealing especially for those first time investors who are likly to make smaller deposits so the apy will cancel itself out with the membership fee. For this to be even worth trying you would need a balance around 2k
Yea that’s true, the fee can definitely be a con for beginning investors and/or those with a smaller balances.
I got the bonus after 77 days of account opening. Two direct deposits of $500.
Nice! This is a good bonus and the account itself is useful as well. Thanks for commenting about your experience!
Interested in this high APY but skeptical of the bank for some reason...😂
Yea that’s understandable. A very attractive APY, but the bank itself isn’t very well known so that can be off putting. I know that’s why some people are hesitant in regards to banking with them.
Is there a limit on how many u can refer ?
Good question, the max amount a referrer may receive is $10,000. So the number of actual referrals with that max varies because the amount the referrers get varies. I’ve seen it range from $50-$100. Per SoFi “In no event will any referrer or recipient be entitled to receive more than $10,000 in cumulative referral or welcome bonuses under all available SoFi referral programs within any calendar year.”
Arvin if you know me I’m always 100% in on Vti
Oh yea I remember! That’s a solid place to be, VTI is a great ETF! 📈
@@FinancewithAvrin what are your thoughts on M1 borrow? It’s one big reason why I invest
Hey, I’m not that familiar with M1 Borrow. I’ve never used it or even invested on margin ever, so I don’t have much experience with that. However, it looks like they have a lower rate compared to other brokers. So as long as the risks are understood and one can make more than the rate then it could be a good option for some investors. How long have you been using it? And how’s your experience been with it so far?
Any update on this program?
Hey good question, currently the APY on the Betterment Cash Reserve account is 5.00% and they have a three month .50% boost for new customers!
Based on my personal and very recent experience I would say STAY AWAY FROM CITI. They have been dragging their feet and delaying in every way possible to avoid paying the $300 bonus. After 75 days, and dozens of phone calls, they tell me this, "we need you to mail in a W-9 so that we can certify it". Citi won't email it to me and then I HAVE to MAIL it to some processing-center in Kansas. I'm sure this will take 30 or 60 days to "certify", if it ever does. STAY AWAY FROM CITI.
That seems frustrating and unfortunate you’ve had to experience that. I’m currently in the process of obtaining their bonus and I’ll write about my experience in the Community section of my UA-cam page once I have some kind of outcome. Thanks for leaving a comment about your experience. Hopefully it gets worked out soon and you receive the bonus.
This offer has been extended! Per the Citi website(link in description): New checking customers can earn a $300 cash bonus when opening a new eligible checking account from 7/9/24 to 10/8/24 with qualifying Enhanced Direct Deposits and required activities.
Not much info can be found on this bank. This video is fantastic and extremely informative! Thank you Arvin!
You’re welcome, glad you enjoyed the video and found it informative! I agree, not much information on this bank, but hopefully this video can continue to be helpful for those looking for more info.
I just checked NexBank CD rate and for 12 months it's 5.04% this is 2 days after you uploaded showing it at 5.35%. Are we looking at the same things?
Yeap just checked, the rate has changed for this one. CD APYs & rates are variable until you open an account with one and then they become fixed for the term length. As I’ve been talking about and showing in these videos recently, some rates have been coming down, and looks like this one has added to that movement. When I made the video that CD rate was definitely higher. That’s one reason why I also put screenshots of the websites in the videos for further proof of the stated APY at the time of me working on the videos.
What about Pacific National Bank for 9 months at 5.25%, with only one month penalty for early withdrawal? Looks like the best 9 month CD available as of today
Thank you for this very in depth video. I just signed up for this account and really want to get serious about this seeing how I have missed out on thousands a year on apy money.
You’re welcome, glad you enjoyed the video! I like getting into the details. It’s great that you’re getting serious about your savings. Put your money to work for you and make those thousands!
@@FinancewithAvrin 🙏🙏🙏🙏🙏🙏🙏 thank you!!!!
hi I hope you notice my comment. what if I forgot to use the promo code upon signing up for the checking acccount What should I do ?
Hey there, congrats on signing up for a new account. Did you sign up with the account through their promotion page for the bonus? If so, you should be good as the promotion is usually embedded in process. If you didn't or you're not sure you should probably contact a financial representative of the company and see if you can speak with someone to possibly add the promo to your new account. Hope it works out fine and you get the bonus!
I did two ACH transaction from my Cap one account, does that qualify?
Hey there, good question. Unfortunately, those would not qualify as an “enhanced direct deposit”. It’s kind of odd because some of the “enhanced direct deposits” that do qualify are basically transfers. I reached out to Citi to verify and here’s a response from one of their representatives; Enhanced direct deposit promotional offers means the funds will need to come via direct deposit, social security, paypal, Venmo., 3rd party person to person payment methods etc. This does not include transfers, this includes wire transfers and inter institution transfers (transfer from an account you own). A transfer from a Capital One account will not be considered enhanced direct deposit. ^
For the average consumer CDs might be worth it but I say they’re not worth it at all you’re better off just completing a bank bonus higher returns and they come from a bank as well
Bank bonuses are definitely a great & easy way to obtain some extra cash and check out a new account. I'm currently doing two of them. I think CDs can be great as well depending on a persons financial goals. Having a CD account and doing bank bonuses during the same time period is nice too, and definitely possible especially with bank bonuses often requiring direct deposits. I actually did a few bank bonuses while having a CD account open last year. You know a lot about finance too though,keep the progress going!
Thanks for taking your time doing research about this bank especially about high yield savings. Thanks for sharing the info with us. I learn alot about the HYS from this bank through you. I’ll open a HYS account with them today. Hopefully it doesn’t give me any troubles trying to open one.
You're welcome! I enjoy researching and learning about different finance related info and sharing it. Glad you found this video informative & helpful. I hope you don't have any troubles with opening an account either. 🏦
Can you talk with a representative of that bank?
Yea I can usually get in contact with financial institution representatives. What question did you have in mind for My Banking Direct?
What calculator were you using in this video?
Hey great question, I used The Calculator Site APY Calculator tool. www.thecalculatorsite.com/finance/calculators/apy-calculator.php
Thank you for this video. But definitely are you still with this high yield savings account?
You’re welcome for the video, thanks for watching & commenting! I haven’t used this account personally but I did a lot of research on it.
Mine stays white
That’s a good thing, keeping your credit card paid off! 👍
What website did you use to calculate the interest? Min 9:30
Hey great question, I use The Calculator Site APY Calculator tool. www.thecalculatorsite.com/finance/calculators/apy-calculator.php
Extended to 9/15/24
Awesome, you’re right it has been updated! Thanks for the comment! I’m going to pin your comment if you don’t mind to help make others aware.
Chex sensitive, I was denied, they will ask you why you have other accounts as if its their business.
Interesting, thanks for the comment. That’s unfortunate that they denied yours. I had six different savings and checking accounts total when I applied for this account, but thankfully I got approved. Hopefully you’re able to get some others you’d like to check out.
@@FinancewithAvrin Let's say I have a couple more than six 😊
Amazing explanation
Awesome, thank you!
so helpful! jus subscribed
Glad you found it helpful! Thanks for subscribing!
Why not primis Nov us account for 6%
Hey there, which Primis are you referring to? Currently the APY for the Primis bank personal savings account is 5.07% and the APY for their business savings account is 4.00%.
That's one issue they always change the rates.
great content
Thank you! 🏦
Thank you so much!❤
You're welcome, thanks for watching & commenting!
From Checking myself it says 5.55%APY for 5 months and it says with balance of 25k, its very secretive of its actual APY for people under 25k or after the 5 months (Edit I was wrong this was Flagstar not My Banking Direct)
Hey there, that’s what Flagstar declares. My Banking Directs requirements are different although they are a division of Flagstar, so its kind of confusing with their savings accounts having similarities and differences. I talk more about this in the APY & Interest and About My Banking Direct sections. Hope that helps.
@FinancewithAvrin Your right thanks for clarifying and going over everything will definitely look at the other HYSA you reviewed
No problem, you’re welcome!
is it true that you need to have 50k in the account to earn the 5.55%?
Nope, for the My Banking Direct Savings Account the minimum amount to have earned the 5.55% APY is $1. I talk more about this in the APY & Interest Rate section in this video. However, the minimal initial deposit when opening an account is $500. Also new update, the APY for this account is no longer 5.55%, it was recently lowered to 5.45%.
do you know if they pull chex?
Hey there good question, I reached out to First Horizon Bank and here’s their response; Avrin, Thank you for reaching out to us. No, there is no credit check when opening new deposit accounts. We do however run a Qualifile/Chexsystems report. If you have any other questions, please let us know!
Yes they pull Chex, I was denied, they were asking me why I had all these accounts as if it's their business
@@thetrueyorkerwhat is chex
You buying Alphabet before earnings this month? Or maybe have some already?
Alphabet is one of my favorite stocks and top 10 individual holdings in my portfolio so I buy small amounts of it on normal basis every week or so, and more when there are big dips and pullbacks. However with the recent run up to all time highs before earnings I've held back on buying, but will likely resume after earnings unless there's something catastrophic reported that changes the company or fundamentals in a major negative way.
@@FinancewithAvrin Nice, good advice thanks! Have subbed to your channel.
You’re welcome and thanks for subscribing!
Cheers very helpful
Thanks, glad you found it helpful!
You just gained the new subscriber. I’m pretty big on bank bonuses I think I’ve made 5+ with sofi.. do you have Instagram?
thank you.
You're welcome!
Thanks as always for your content
You’re welcome, thanks for watching & commenting!
Happy Fourth of July to those celebrating! 🇺🇸🎆🎇
It seems that the procedure to close an account with My Banking Direct is a bit convoluted. Transfer limits so all funds can't be removed at once? You have to close the account in writing?
Yea that’s a good observation. That’s one thing with some online banks I’ve noticed. Instead of being able to close an account yourself, you sometimes have to call or write about it. Then prior to that the transfer limits can slow the pace of someone getting money out of the account.
This is one of my favorite finance channels. Can you give advice on paying off debt from your experience as a finance man?
Hey there, that’s awesome that this is one of your favorite finance channels, I really appreciate that. About paying off debt, that’s a good question. I think the best ways to tackle and pay of debt is to set a budget, try to increase income as much as possible(side hustles/work, PRN or part time job, extra tasks, etc), and consolidate debt if posible. Budgeting creates organization for your finances and helps you stay on track. Extra income can go towards paying off debt, and I think in this situation once extra income is received it should immediately go towards paying down debt. Not even waiting on due dates. Make multiple payments throughout the month. Seeing the balance of debt go down is motivating and will likely help you continue to move forward as well. If you’re dealing with high interest rates on debt see if you can consolidate it and lower the rate by either transferring the balance to a credit card that has a nice 0% or low introductory rate, getting a low rate loan to use for paying of the debt or something similar. Hope this helps!
@@FinancewithAvrin This is VERY HELPFUL and I pray that your channel continually grows and reach the masses with this helpful information. As always, Thank you.
You’re welcome, I’m glad it was helpful, and thank you for the blessings! I hope this channel continues to grow and reach, teach, help and inform people in various positive ways.
How significant is the difference between accounts that compound interest daily and credit monthly vs accounts that compound monthly and credit monthly?
Hey there, great question. The difference isn’t very significant sometimes. It’s more noticeable with larger amounts of money and for longer periods of time. For example, interest on $10,000 earning 5.00% APY for a year, compounding daily and crediting monthly would be around $500.07 for the year. Same amount and APY compounding monthly and crediting monthly would be around $499.06 for the year. So yes there’s a different but not that much, varies and depends on the amount earning interest and for how long its earning it. I also talk about this more in some of my videos, most recently in my CD Accounts Explained with Pros & Cons video.
One of my cds matures end of July. How do I prepare ahead of time to tell my advisor what is out there for him to move it into?
That’s a great question. You’re definitely in the right state of mind with looking into what to do next. I would research to see what the current bank you have is offering and compare that to accounts with other banks. I would then compose a list of those you’re really interested in and see what your advisor thinks of those. Or you can tell your advisor what rates and term length you’d like to have and see what your advisor can find for you.