Hendrix Hein
Hendrix Hein
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5 BEST High Yield Savings Accounts of 2024
I am going over 5 BEST High Yield Savings Accounts that would help you save more money and grow your savings overtime.
The American Express High-Yield Savings Account (HYSA) offers a competitive 4.25% interest rate with no minimum balance requirements or monthly fees. It is FDIC insured and provides 24/7 customer support. However, it does not include ATM or debit cards. A $10,000 deposit would earn $425 in interest over one year, assuming no additional contributions.
Ally Bank offers a competitive High-Yield Savings Account (HYSA) with a 4.00% APY, which is significantly higher than the national average of 0.46% APY. Ally has no monthly maintenance fees or minimum balance requirements and is FDIC insured. The platform, available via web and mobile app, features a "Buckets" tool that helps users organize their savings into categories like vacations or emergency funds without needing multiple accounts. While Ally doesn’t accept cash deposits, users can deposit through online transfers, direct deposit, or remote check deposit. Zelle is also available for quick transfers to checking accounts in emergencies. Though the interest rate isn’t the highest among HYSAs, Ally’s features and ease of use make it a strong choice for many savers.
Marcus by Goldman Sachs offers a high-yield savings account (HYSA) with a competitive 4.25% APY, higher than rates from Ally Bank and American Express. The account has no monthly fees, no minimum deposit requirements, and is FDIC insured up to $250,000. Although there are no ATM or debit cards for direct access, funds can be transferred online between Marcus and your primary account. Marcus also provides 24/7 customer support, making it a reliable and convenient option for saving.
SoFi’s High-Yield Savings Account offers a competitive 4.5% APY, no account fees, no minimum balance, and is FDIC insured up to $2 million through partnerships with various banks. When you open a SoFi account, you get both a checking and savings account along with a debit card connected to your checking account. SoFi doesn't have its own ATMs, but you can use 55,000 fee-free ATMs in its network. To earn the 4.5% APY, you must set up direct deposit from an employer or qualifying source. Without direct deposit, the APY drops to 1.20%. SoFi is ideal for those seeking an all-in-one financial platform, offering perks like a 2-day early paycheck and FDIC insurance up to $2 million. Additionally, SoFi offers new customers a bonus of $50 or $300 based on direct deposit amounts. For example, a $10,000 deposit in the savings account would earn $450 in interest at the full 4.5% APY.
Wealthfront Cash Account offers one of the highest APYs in the market at 4.5%, with no account fees and no minimum or maximum balance required to earn that rate. It provides same-day withdrawals to linked checking accounts at eligible institutions, making it a flexible option for emergencies. The account is FDIC insured up to $8 million through partnerships with multiple banks. Wealthfront also provides a debit card for access to 19,000 free ATMs. Setting up direct deposit allows for early access to paychecks, and there's a referral program offering a 0.5% APY bonus. Wealthfront is a solid choice for those seeking high returns and convenience.
Side Note: Always check the website for the updated interest rate (APY) of the high yield savings accounts mentioned in deciding to open the savings account!
Saving Accounts Mentioned:
American Express: www.americanexpress.com/en-us/banking/online-savings/high-yield-savings
Ally: ally.com/referral?code=2G6K2M4C2R
Marcus: www.marcus.com/share/KYA-VX2-HEVJ
SoFi: www.sofi.com/invite/money?gcp=6c0b6261-913f-49ec-8e7f-79602d9edc01&isAliasGcp=false
Wealthfront: www.wealthfront.com/c/affiliates/invited/AFFB-U9TW-3AIC-1UYT
USEFUL LINKS:
Rakuten: www.rakuten.com/r/KYAWZA10?eeid=45830
Webull: a.webull.com/NwcVA3tmPeZIgwcDCd
Robinhood: join.robinhood.com/kyawzah6
CHECK OUT SOME OF MY OTHER VIDEOS
▶️ Amex Platinum Hotel Credit - ua-cam.com/video/v_J7xWoAJnk/v-deo.html
▶️ Index Funds to buy and hold forever - ua-cam.com/video/ra0Qy4IxWug/v-deo.html
Timestamps:
0:00 - Intro
2:27 - Account 1
4:43 - Account 2
8:00 - Account 3
9:04 - Account 4
12:31 - Account 5
DISCLAIMER:
Interest Rate changes from time to time due to Federal Reserve Savings Rate adjustment. Always check the website of the Savings account that you want to open first before making a financial decision. This content is for education and information purposes only and not to be taken as financial advice. Some of the links mentioned in the descriptions are affiliate links, which I may receive a commission when you use those links to sign up for an account or service. This helps support the channel to create more education content.
#americanexpress #creditcards #amex #amexplatinum #travel #travelcard #travelcreditcards #airportlounge
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КОМЕНТАРІ

  • @troydarnellknight
    @troydarnellknight 12 днів тому

    Darn shame apple users couldn't change anything on their screens. And this is an update huh 😅

  • @smokenojoke8182
    @smokenojoke8182 19 днів тому

    Keep hearing different things…some people said this doesn’t work…. I’m testing out

  • @SudiptoRayChowdhury
    @SudiptoRayChowdhury 19 днів тому

    Hello sir, I tried to connect kajabi to my custom domain and i am getting "Site has already been taken" error. NB: the kajabi site was earlier connected to that very same domain. How Can I get rid of this issue. thanx

    • @hendrixhein
      @hendrixhein 18 днів тому

      Have you the DNS settings of your domain? And see if your domain is connected to another website builder?

    • @SudiptoRayChowdhury
      @SudiptoRayChowdhury 18 днів тому

      @@hendrixhein thanx

    • @hendrixhein
      @hendrixhein 17 днів тому

      You are welcome

  • @oakarmin9656
    @oakarmin9656 23 дні тому

    Interesting and well-organized..

  • @hendrixhein
    @hendrixhein 24 дні тому

    What is your favorite High Yield Savings Account?

  • @andrewdarcy315
    @andrewdarcy315 2 місяці тому

    cold storage good

    • @hendrixhein
      @hendrixhein Місяць тому

      Thank you for watching. I hope you get a ton of value out of the video

  • @oakarmin9656
    @oakarmin9656 2 місяці тому

    Clear and detailed explanation.. Please consider changing the camera angles for better engagement..

    • @hendrixhein
      @hendrixhein 2 місяці тому

      Thank you for your feedback

  • @36993020
    @36993020 2 місяці тому

    I have the same card and the hotel rates are almost always higher on Amex travel website than other sites, so you are buying the “free perks” and not actually getting them for free. The $200 Amex travel credit is best to use on flights as the rates are comparable (usually identical) to the airline websites.

    • @hendrixhein
      @hendrixhein 2 місяці тому

      Thank for your input. When I book for the hotel, the rate on FHR is almost the same as the rate on the Venetian website. I also stated on my long video too. But, sometimes, the rates on FHR could be higher

  • @hendrixhein
    @hendrixhein 2 місяці тому

    What are your thoughts on the $200 Hotel Credit on the Amex Platinum Card?

  • @muminstilettos
    @muminstilettos 2 місяці тому

    Thank you so much.

  • @UnfinishedSymphony
    @UnfinishedSymphony 2 місяці тому

    Very good, clear and calm step by step information without useless accessory. Well done, thank you! 🙂

  • @umesharora8938
    @umesharora8938 2 місяці тому

    I bought ledger nano x bt no tutorial any support and waste for me Bec my coindcx platform coins not to transfer in ledger

  • @vasullobo
    @vasullobo 3 місяці тому

    @heinfinance thank you for video, if I forgot my password, is it possible to restore it or somehow to have an access to the flash card?

    • @hendrixhein
      @hendrixhein 2 місяці тому

      Yes, it is. Ledger now makes it possible to reset your password by resetting Ledger Live. Please check support.ledger.com

    • @vasullobo
      @vasullobo 2 місяці тому

      @@hendrixhein thank you

    • @hendrixhein
      @hendrixhein 2 місяці тому

      You are welcome

  • @Investorboyvicg
    @Investorboyvicg 3 місяці тому

    Excellent video! Thanks for sharing this!

  • @IBLOWN
    @IBLOWN 4 місяці тому

    I dont get it though. Why is it so much harder to get a Credit Card's spending limit increased, be able to pay it off, yet a Charge Card has no limit and has to be paid off at the end of the month otherwise you incur an overdue fee? Whats the difference? Someone please explain!

    • @joelcouvertier1850
      @joelcouvertier1850 3 місяці тому

      They are family. The banks just want you to spend money. Some banks have different regulations and ways to manage their money, but their main focus is to make you pay and do transactions frequently. Charge cards don’t have a credit limit visible, but in reality you do have a limit. How do they determine your limit? If you are a big spender, they will be willing to lend you more money. A regular credit card will set your credit limit based on the info provided at first place (income and estimated expenses), and then, whenever you’re trying to request a increase on your credit limit, they will check your average expenses in the past months. If they determine that you’re not a big spender, most likely they will deny your request, or simply they won’t increase as much as you ask for. But at the end of the they, is basically the same thing. Everything is going to depend on the tier of the card. A top tier card allows you to have a higher credit limit (Visa infinite and MC World Elite). Charge cards, generally, are the top tier cards from Amex, so the credit limits are usually higher. Finally, the main difference is how the banks report everything to the credit bureau. Since a charge card doesn’t have a visible credit limit for the bureau purposes, regardless your due amount, Amex report the debt as you max out the card, so is more beneficial for your to pay it off entirely at the end of the month religiously. If you don’t pay it off the total amount, you will follow under the same rules as a normal credit card, in which you will pay over 25% in interest. Is basically the same thing, being honest, but one is more convenient to be paid fully by the end of the month, and the other is more convenient maintaining your balance below 30% of your credit limit, so you don’t get attention of the bureaus so bad 😅.

    • @hendrixhein
      @hendrixhein 3 місяці тому

      @joelcouvertier1850 I agree. Whichever credit cards you use its important to pay off your statement balance in full by the deadline every billing cycle

  • @liz4545
    @liz4545 4 місяці тому

    So the ledger has to be connected and done the password before sending from ledger desktop to coinbase phone?

  • @elliotsnest
    @elliotsnest 5 місяців тому

    Cold storage wallet

    • @hendrixhein
      @hendrixhein 5 місяців тому

      Thank you for watching

  • @trustinginhim1698
    @trustinginhim1698 5 місяців тому

    Someone needs to just do mobile videos. Crypto is spreading. Not everyone has a desktop computer. Anyone smart enough, get that non computer knowledgeable old person money 🤑, cause we in the millions ❤

    • @hendrixhein
      @hendrixhein 5 місяців тому

      Good point. I will create more videos that are mobile friendly

  • @davidturner769
    @davidturner769 6 місяців тому

    Great video my man! Glad you used name cheap because I couldn't figure it out through the Kajabi video. Really appreciate it :)

    • @hendrixhein
      @hendrixhein 6 місяців тому

      Thank you. I am glad it’s helpful

  • @HaPhan-uc4ep
    @HaPhan-uc4ep 6 місяців тому

    how did you call out the emoticon at 6:18?

    • @hendrixhein
      @hendrixhein 2 місяці тому

      Using "Fn" key on my Mac

  • @tylerdphoto
    @tylerdphoto 6 місяців тому

    This is how I feel about the 2017 civic I just bought (it’s stock)

  • @frethzia
    @frethzia 6 місяців тому

    Question: If I have the Kajabi Basic plan, each mini-course counts as one product??. Consequently, if I need to create more mini-courses, I will be left with only two products.

    • @hendrixhein
      @hendrixhein 6 місяців тому

      Yes, that’s correct. Any product counts as one product

  • @Jjlk4603lm
    @Jjlk4603lm 6 місяців тому

    You explained very well.

  • @pwsoultrainn4090
    @pwsoultrainn4090 6 місяців тому

    how do you know which coins are stored on ledger wallet

    • @hendrixhein
      @hendrixhein 6 місяців тому

      You can check your cryptos under "My Ledger" tab on the Ledger Live app on desktop or on your phone

  • @austinhunt4260
    @austinhunt4260 7 місяців тому

    Cold storage wallet. Great instruction. Just out of curiosity, what are the other 22 words of your recovery phrase? :)

    • @hendrixhein
      @hendrixhein 2 місяці тому

      Thank you! Haha, I don't remember on the top of my head :)

  • @miglenaiankova9201
    @miglenaiankova9201 7 місяців тому

    i need to transver ftom ledger live to kraken how

  • @peterpuller7984
    @peterpuller7984 7 місяців тому

    Should you have some cash in your Coinbase account to cover any transaction fees? Or do they take it out in crypto?

    • @hendrixhein
      @hendrixhein 7 місяців тому

      From my experience, the transaction fee is paid with the dollar amount on your Coinbase account so you would need to set aside a few dollars for transaction fee

    • @peterpuller7984
      @peterpuller7984 7 місяців тому

      @@hendrixhein Thanks for the reply.. I appreciate it. Great video

  • @Jaybo119
    @Jaybo119 7 місяців тому

    worked like a charm. thanks

  • @MrAnoneemouse
    @MrAnoneemouse 7 місяців тому

    You explained the procedure very clearly and I was able to follow it to complete a transfer. Thank you so much!

    • @hendrixhein
      @hendrixhein 7 місяців тому

      You are welcome. Thank you!

  • @David79560
    @David79560 7 місяців тому

    Extra happy to be able to understand his English without a lot of accent. Good job!

  • @Natalie25899
    @Natalie25899 7 місяців тому

    Hi is it safe to sync ledger to your phone?

  • @JenNay-qf8wt
    @JenNay-qf8wt 8 місяців тому

    How do you send an erc20 to coinbase like chainlink

    • @hendrixhein
      @hendrixhein 7 місяців тому

      I am not familiar with erc20. I will do more research on it. Thank you

  • @neliotrindade4851
    @neliotrindade4851 8 місяців тому

    how to restore ledger nano x on mobile phone?

  • @Mishmear
    @Mishmear 8 місяців тому

    Any idea why my iOS app never updates my token amounts? Sometimes takes like a week for the correct amount to show even though it shows correct on pc

  • @ThickChickFitness
    @ThickChickFitness 9 місяців тому

    Thank you so much

  • @johnxina2361
    @johnxina2361 9 місяців тому

    What if i want to do phone to phone

  • @ironbeno
    @ironbeno 9 місяців тому

    i got 17 bucks fee grrrrrrrrrrrrrrrrrrrr

  • @bubsmums6518
    @bubsmums6518 9 місяців тому

    Amazing. To the point. Love it.

  • @GabrielGonzalez-mn9fz
    @GabrielGonzalez-mn9fz 10 місяців тому

    Not secure anymore that’s why I’m here

    • @hendrixhein
      @hendrixhein 10 місяців тому

      We need more secure device lol

    • @nathanboone2995
      @nathanboone2995 3 місяці тому

      Why? I jusy bought one?? I swear. Still has to be safer than keepin it on coin base right

  • @seanbills9654
    @seanbills9654 10 місяців тому

    When I transfer max xrp out of ledger it keeps a minimum of 10 coins in my wallet. Is it possible to override this and transfer all coins?

  • @Zspaceacidburn
    @Zspaceacidburn 10 місяців тому

    Yes! Keep it up

  • @DILLIGAFMF
    @DILLIGAFMF 11 місяців тому

    Good lord. Get to the point!

    • @bodazaphfa
      @bodazaphfa 9 місяців тому

      TikTok brain alert.

  • @morrning_group
    @morrning_group 11 місяців тому

    Thank you for sharing this information😀, Please continue making more videos; I can see the dedication and effort you put into your content. You deserve more viewers and subscribers. Keep up the hard work, and consider enhancing the quality even further! bro 🥰

    • @hendrixhein
      @hendrixhein 11 місяців тому

      Thank you so much. I will create more interesting content. Stay tune!

  • @Alinafox_official
    @Alinafox_official 11 місяців тому

    Hello. How to use free course for bild emails ?

  • @knifeprtyyyy
    @knifeprtyyyy 11 місяців тому

    Great breakdown!

  • @eviecaruso5599
    @eviecaruso5599 11 місяців тому

    Thank you! Easiest Step by Step guide ever!

    • @hendrixhein
      @hendrixhein 11 місяців тому

      Thank you so much! I am glad to hear it is helpful 😃

  • @williambruneau
    @williambruneau Рік тому

    Thank you Hendrix for a clear and concise comparison of Vanguard and Fidelity. In my beginner experience Fidelity has been the way to go: whereas F allows you to dive deep into any fund or stock or whatever, if you have an account you can access even more stock/etf information. Maybe it was my stupidity, but if so there must be many more of us, but when I wanted to know more about an investment they were totally opaque which shouted to me, "Trust me, trust me", i would have to go soley on their judgement. I hope I am wrong in this.

  • @educatedwanderer9293
    @educatedwanderer9293 Рік тому

    I have most of my investments at Vanguard, but my employer's 401k is at Fidelity. I prefer Vanguard but both are good. I'm a buy and hold index investor for the most part.

    • @lee-13
      @lee-13 Рік тому

      Why do you prefer vanguard?

    • @educatedwanderer9293
      @educatedwanderer9293 Рік тому

      They are the original low cost brokerage and their model of operation, being owned by the investors lends itself to a more trust worthiness. Vanguard fits the way I like to invest.

  • @todd.westra
    @todd.westra Рік тому

    Absolutely love this video! It's incredible how cutting out certain expenses can have a positive impact on both your wallet and the environment. Thanks for sharing your journey toward a more intentional and mindful lifestyle!💯💯💯

  • @NanseraWellness
    @NanseraWellness Рік тому

    Thank you so much :)