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Popular Direct Savings Account with 1.26% APY

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jeremiahsvow:
I am on this kick of trying to find the best savings account. I found this one last night. I remember from my time living in Puerto Rico that Banco Popular (the parent company) was a reputable bank.

I am still new at this whole evaluation thing. So, is there something that I am missing here? It looks good to me, but.... could use some help assessing this one. Here's the link.

Thanks in advance.

Billy_McSkintos:
If you are looking for returns why not invest it? Its pretty easy to move money around these days: Betterment.com, Acorns.com

jeremiahsvow:

--- Quote from: Billy_McSkintos on November 02, 2016, 11:12:50 AM ---If you are looking for returns why not invest it? Its pretty easy to move money around these days: Betterment.com, Acorns.com

--- End quote ---

I am investing as well. This is more for my parked emergency fund. I want it to sit, but if I can get it to work a little bit the better. While I could put this money something like Betterment, I am not sure if I want to do that.

If you can walk me through how that would work, I would consider it. I guess when I think about investing I think "more volatile." Even if it is with Betterment or other services. Right now, I want my emergency fund money is a safe space.

I may be wrong in my thinking. That's why I put it out there.

Joel:
I've never heard of Popular Direct. How long have they been offering 1.26% APY? I would be nervous that the rate would go down or that it is a hassle to move money between accounts. In my opinion, I'm not sure 0.26% is worth it compared to Ally Bank. If you try the account, please report back with your observations!

jeremiahsvow:
After some more digging, it looks like this is a promotion. I checked three sites (related to the same company but with slightly different info by the way) to find this out. So, probably not a good choice.  :-\ :-\

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