As others have mentioned, you can get a higher interest rate at Ally or GE Capital Bank. I have accounts at both as well as a local credit union, and mostly use Capital One 360 for checking and no fee international ATM cash withdrawals. 360 is great for free online check mailing (when that's needed). You can't designate a beneficiary with 360 , Ally money market account VS Vanguard Prime money marketRe: Ally money market account VS Vanguard Prime money market « Reply #1 on: December 12, 2018, 10:26:19 AM » The downside I can think of off-hand would be any kind of delay in withdrawing funds if you need them, but I can't imagine that would be more than 2-3 business days, and Ally probably isn't much better., Comenity direct is giving 2.49% for savings accounts and 2.5% for CDs with very low minimums. I too am distressed about Ally bank lowering their rate (I get it's because of the Fed rates moving but still) and then have the gall to say they're still 10X better than the "average" bank. So my biggest savings account is moving to Comenity., Bank account churning: how to make $1600 in a year by being organizedI signed up for a new business bank account with Axos to get $200 but it was a big hassle. I think I have to have an average balance of $2,500 in the account but it's taken so long that at this point I'm worried it may not post. I'm on hold with tech support now because I can't even login to their online system. I may just , Ally has cashiers checks but requires 7 days. I may not know the exact cost 7 days before bc we are doing a quick close. I don't have a local bank., Opinion on Ally bank for savings only??It takes a couple of business days to transfer the money back and forth. Ally has a checking account option that allows you to move the money and write a check, which might be helpful for the EMD on the new property. Ally is paying 1.00 percent. GE Capital and Synchrony pay 1.05 percent, but do not have checking account options. Up to date info on rates .