If you keep 10k in the account, then you're losing out on (effectively paying a fee of) $228 each year, on $10k, not factoring taxes. I switched to Fidelity CMA so I don't have to think about things like this, all my spare cash earns high rates, and when I make payments it auto-liquidates -- way less thinking than when I was using my credit unions or banksI have a Vanguard Cash Plus account and Brokerage account where I keep the majority of my cash. However, I would like an actual bank checking account for my monthly transactions (like credit card bills, etc.). Not interested in the Fidelity CMA.Neither. Vanguard Federal Money Market is paying 5.28%. These rates are not that great. The only account I keep with rate paying less than Vanguard going rates is a chequing account with Wells, and that is mostly for the benifit of having access to a national bank with branches in most of the country if needed. But a local bank brings none of that to the table, so I'd look for better rates.
As for regulation D, its an antiquated and pointless regulation. Doubtful its coming back. The bank might do something different, but the Fed could care less.
If you're dead set against it, then sure go with the 3% over the 1.75%, but, you can do better
Statistics: Posted by nalor511 — Fri Jul 19, 2024 12:18 pm — Replies 5 — Views 161