patrick.net

found american express high yield savings @ 1.3....hmmm. Also found historical data for them...
http://www.pfstuff.com/savings/
hmmm.

HSBC is doing about .9% the 1.1% is probably stable.

Although you might make more just putting 25K in a few banks and asking for some "bonuses" for putting the money in each. I think SF ace mentioned $500 isn't uncommon if you go in there and talk to them. Of course you might have to go to a few banks to get a few of these deals. Although 6 banks for $3000 might be worth it.

went with AMEX high yield savings @ 1.3....

I have money in discover bank, it's been 1.3 for the past year.
The setup process was annoying though. Now that I am there it's not worth changing, but amex at 1.3 is probably easier.

Or Capital One...

I'm getting 6% on ordinary savings here in NZ. A big currency movement right before moving it back would wipe that out pretty quickly. Arbitrage is way over my head.

@bob2356

I keep some money in $NZ here in Japan (foreign currency deposit). Great returns, but how will the exchange rates go from here.

American in Japan says

@bob2356
I keep some money in $NZ here in Japan (foreign currency deposit). Great returns, but how will the exchange rates go from here.

If I could figure out the answer to that question I would be very wealthy.

I have my liquid savings in Everbank, I have been very happy with them
https://www.everbank.com/personal/high-yield-money-market.aspx

I'm looking at AmEx as well. I'm over the $250K limit at my Credit Union and would like to spread out my cash.

Interesting ... Everbank is better than Charles Schwab.

George

jvolstad says

I’m looking at AmEx as well. I’m over the $250K limit at my Credit Union and would like to spread out my cash.

ING direct is a bit better IMO. Amex will lower their rates soon like Sallie Mae did, ING is pretty stable right now.

I have some cash with Discover Bank. But really the majority I keep with bank accounts that allow you to earn airline miles. Banks like Bank Direct that are FDIC approved and giving 1 frequent flyer mile for every $10 you have on deposit. The interest rates are almost nothing but what makes it appealing to me is that the miles aren't taxable.

You can add POD beneficiaries to get your FDIC coverage over $250,000. For example, I added my wife and 2 kids to increase my coverage to $750,000. I'm getting 75,000 miles per month with them from American Airlines. We use the miles to upgrade to Business class so they are super valuable as some of the tickets we are getting are worth upwards of $7,000 each. So we'll buy a cheap flight and then upgrade with miles.

I guess if you don't travel much or won't use the miles it's not the best but considering the bank accounts are paying next to nothing anyway, it's a good bang for the buck for me. Many of my friends are doing the same thing. There are various banks that give airline miles for each $10 you have so use the airline that you use the most.

Then there are other side benefits. For example, American Airlines gives you "Gold status" for life once you hit 1 million total miles in your account. Once you hit 2 million miles they give you "Platinum for Life". So it's a good way to get lots of miles and the perks of Platinum for life if you have tons of cash. I was already Platinum for life but now my wife is building up miles for Platinum for life.

when AMEX lowers their rates, i'll just pull it out and send it to the highest bidder...
extracting the cash might prove to be a little work, but setting up new accounts with online banks takes minutes...