Wealthfront cash account bumped rates up again. After the July 26, 2023 federal reserve rate increase, how many days will it take for other banks or high yield savings accounts to adjust their rates? Wealthfront Cash account has always been two days after so that when the rate change happens on Wed, by Friday morning the new rate is in effect.
Have others been able to match this? I think I did find one that has adjusted the rate quickly now.
Redneck Bank is currently matching the Wealthfront Cash account rate but does have some direct debit restrictions.
I was really hoping newcomers Betterment Cash Reserve account and Milli would update their rate quickly but unfortunately they haven't updated the rate. They both are still are offering the same 5.25% APY rate which isn't a bad rate.
UFB Direct has now brought out its formerly open but then closed UFB Priority Money Market account which is now paying the same 5.06% rate as before.
Laurel Road bank had one of the higher 4.80% APY rates but it is still 4.80% after the fed rate increase.
I did find a way to get the highest rate possible today, even higher than Wealthfront that I have somehow foolishly overlooked previously. It involves signing up with Raisin (formerly Savebetter) using my referral code. Open any Raisin account with at least $5,000 using my referral code, keep it there for 90 days a'ja wilson most marketable player and the company will credit the money to your bank account within 30 days. This will increase the APY for the high yield savings from 5.25% to 5.75% APY and the 12 month CD from 5.51% to 6.01% APY.
Raisin (SaveBetter) signup bonus up to $125
Open an account and minimum deposit amount of $5,000 for at least 90 days, you will be eligible to earn a bonus. $25 for the first $5,000 deposit and $5 extra for each subsequent $5,000 deposit.
enter code: kevinp29235 in the referral code area.
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Bank Bonuses below:
Rate Boosts:
Marcus 1% rate boost
Wealthfront .50% rate boost
$ Bonuses
Raisin (SaveBetter) signup bonus up to $125
Open an account and minimum deposit amount of $5,000 for at least 90 days, you will be eligible to earn a bonus. $25 for the first $5,000 deposit and $5 extra for each subsequent $5,000 deposit.
enter code: kevinp29235 in geena davis the referral code area.
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