How to find a high-yield savings account with debit card perks
Traditional banks offer low interest rates and online high-yield savings accounts rarely come bundled with checking features like waived ATM fees or cash-back debit cards. This forces people to choose between earning a competitive yield and maintaining everyday banking conveniences like fee-free cash access.
What people tried
Every workaround mentioned in the threads below. We haven’t tested any of them — and nobody here is claiming they worked.
- 1Searching online financial resource sites like Doctor of Credit or NerdWallet
- 2Opening accounts with major online banks or brokerages recommended on forums
- 3Using a Fidelity Cash Management Account as a hybrid checking/HYSA alternative
- 4Keeping separate accounts across multiple different banks
- 5Using Ally's money market account which comes with a debit card and pays standard HYSA rates
- 6Using a parent's US mailing address to maintain residency requirements
- 7Utilizing Charles Schwab checking accounts for day-to-day international transactions
- 8Holding cash in money market funds like SPAXX within a brokerage cash management account instead of a traditional HYSA
- 9Keeping money in a regular savings account and missing out on higher interest rates
- 10Avoiding rate chasing and sticking to well-known established banks
- 11Using brokerage accounts or prime money market funds instead of traditional HYSAs
- 12Staying with a traditional brick-and-mortar bank like Chase for savings
- 13Looking up common picks like Ally, Marcus, Capital One 360, Amex, and Discover
- 14Opening high-yield savings accounts (HYSAs) with online banks like Ally
- 15Investing cash into money market funds like SPAXX through a brokerage
- 16Joining a credit union instead of using a traditional bank
- 17Searching online or checking aggregators like Doctor of Credit
- 18Opening brokerage CDs or money market funds like VUSXX
- 19Using promotional or higher-yield accounts with temporary or catch rates
- 20Researching individual bank options
- 21Using aggregator links like Doctor of Credit or community wikis to find account options
- 22Researching online resources and bank offerings independently
- 23Asking for community recommendations and opinions on banking options
- 24Looking into multiple online banks independently like SoFi, Western Alliance, Openbank, and Citi Bank
In their words
Unedited, most upvoted first, each linked to the thread it came from.
“Confused looking at the various HYSA options as there are tons of fine print and options etc. some look like its harder to get your money out when you need to etc.”source ↗
“I’m looking to move money into a HYSA that I can pair with a debit card that gives me some kind of perk (I.e cash back or waived ATM fees).”source ↗
“I’ve looked into a couple different options like Fidelity, AmEx, and Scwab, but haven’t been able to find a place that has any perks on checking as well as a traditional HYSA option.”source ↗
“And now I want to open a saving account, I was planing of opening one with my bank Chase but heard HYSA are better so would like to know which who should I open this account.”source ↗
“I’m 21 and have about 10k in my savings and it’s just not doing much sitting in the account it’s currently in. I’m just wondering which bank I should open another savings account in, so that money can grow.”source ↗
“Is it just as easy as finding a FDIC bank that has a good APY on it? Simply depositing that money and waiting for it to grow? Is there any catch?”source ↗
“I could research more on this topic but I wanted to see others opinions.”source ↗
“The main thing I like is the lack of atm fees. I guess I was under the impression that more places did something similar to discover, which doesn’t seem to be the case.”source ↗
“If I were to need the money for an emergency though (or whatever other savings buckets i may have) would those accounts freeze if I tried to access them from wherever I was?”source ↗
“Hello, as the title states, I am wondering where I should open a HYSA.”source ↗
“The bank I use for checking is my state bank and it doesn't have a traditional HYSA. Let alone a HYSA that's good. So I was wondering where I should open one.”source ↗
“I just graduated uni and am pretty new to personal finances, but I've been lurking in this sub and everyone seems so smart so wanted to get y'alls opinions on what I think is a pretty unique situation!”source ↗
“With that in mind, are there any good HYSA or similar accounts I could park my money in for savings/emergency fund purposes?”source ↗
“I just worry if it somehow comes up that I don't LIVE there that my account could be in trouble.”source ↗
“I have around 10k just sitting in a "regular" savings account. I don't want to necessarily invest it because I want to keep it more liquid or emergencies, but I also want to actually take advantage of earning more since I know it's possible.”source ↗
“I was about to try CIT Bank because their current deal is 4.10% for 6 months then 3.75 which seems really competitive, but a Facebook ad I got served had a ton of negative comments from people about getting denied and not being able to find anyone to call for customer service so I got a bit scared off by that.”source ↗
“I also looked at SoFi but I don't want something that requires direct deposits, I just want to transfer a chunk of money and let it sit there or add to it when I'm able to.”source ↗
“What are the best CD/hysa rates right now? I have around 35k I want to invest and I could leave it in there for a longer perios of time too.”source ↗
“Looking to park my cash in a high yield savings account, but in a good bank/credit union. I am not looking to put money into small/shady banks which offer slightly higher interest rates, but are not stable.”source ↗
Where this came up
People with this problem also raised
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- 37How to decide whether to invest excess savings or keep them in an HYSA
- 4Am I saving enough money for the future?
- 4How to switch from a traditional big bank to a better checking account
- 3How to save money for a future nonprofit tax-free
- 6Should I buy property or keep my money invested?