{ "media_type": "text", "post_content": "Hi! I’m finally closing my HSBC accounts (terrible customer experience and bad app). Just signed up with Chase for my checking. What would people recommend for a general savings account (for my rainy day fund to sit)? After 401k contributions I just put everything into Betterment. Is this a good plan? Recommendations/ advice appreciated.", "post_id": "60ccb853acbd9000217c72c0", "reply_count": 18, "vote_count": 3, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter" }

Hi! I’m finally closing my HSBC accounts (terrible customer experience and bad app). Just signed up with Chase for my checking. What would people recommend for a general savings account (for my rainy day fund to sit)? After 401k contributions I just put everything into Betterment. Is this a good plan? Recommendations/ advice appreciated.

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Chase checking and savings are only good for the sign up bonus IMO unless they have convenient branches/ATMs in your area that justify the hoops to jump through to keep it fee free. Better off with an established HYSA for emergency fund like Ally, Marcus, Capital One 360, etc that don't have requirements to keep it fee free and earn a decent amount of interest. There are higher paying options as well, possibly even local credit unions (I'm getting 3% for 2 years up to $10k at mine).

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I forgot to also mention the free safe deposit box.

I also just closed my HSBC (after they sold the US retail bank) and have Charles Schwab, it's really nice! What's betterment, is it good?

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Same as ally. Flip a coin

I love Marcus. Happy to give you referral for 0.7% without any time commitment

funny

Exactly hehe :D plus the interface is super easy and transfers are quick. So it’s the same as if you’d keep money at chase, but you get 0.7% on it

+1 Schwab for everything great service no ATM fees

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Is your rainy day fund your emergency fund? If so I would keep enough to be comfortable in a FDIC insured savings account. Or are you talking a brokerage account? If so I would use a Roth IRA first

I’m not a fan of Betterment. Advice fee + fund fees is around 50 bps. At that point, you might as well get Vanguard’s robo advisor for about 20 bps all in

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