[Lydia]

Any personal recommendations for high yield savings bank with no minimum of very low minimum.

I used CIT BANK myself but they have $100 minimum.

These accounts would be for my niece and nephew.

[Megan]

Are you niece and nephew adults are minors? If the latter are they 13+?

[Adam]

Fidelity cash management account has no fees or minimums and the yield is around 5% currently

[Jason]

Capital One for me and my kids
no minimun
no problems ever

[Kenny]

Ally, SoFi and Fidelity’s cash management account are all great and have over 4% interest.

[Angele]

I like Ally, but if you want some tax benefits maybe an UTMA/UGMA with a money market fund.

[Tanya]

I just opened a cash reserve fund on Betterment. 5% APY, suppose to be 5.5% for 3 months once my funds get in there.

No minimum balance, just have to deposit $10.

2 MIL FDIC insured.

When I was researching it’s suppose to be compound interest monthly, but I can’t say from experience yet.

[Author]

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