Money Market Rates Sept 2020

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

0.80% Ally Bank Online Savings

0.65% Capital One 360 Performance Savings

0.60% Marcus by Goldman Sachs (GS Bank) Online Savings
0.60% Discover Bank Online Savings
0.60% American Express High Yield Savings
0.60% FNBO Direct Online Savings
0.10% Unify FCU Money Market
0.06% Citibank Savings Account
0.02% Chase Plus Savings

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates. Rates are believed to be accurate as of 9/21/20. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included one credit union in the list so that readers have a comparison point with banks.

In the past, most banks offered CDs that pay significantly more than their money market offerings. However, this doesn't seem to be the case currently. Overall, bank account interest rates are dropping across the board.

Frequent changes show how variable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

Money Market Rates June 2020

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

1.05% Marcus by Goldman Sachs (GS Bank) Online Savings
1.01% Discover Bank Online Savings
1.00% Ally Bank Online Savings
1.00% American Express High Yield Savings
1.00% Capital One 360 Performance Savings
0.90% FNBO Direct Online Savings
0.20% Unify FCU Money Market
0.06% Citibank Savings Account
0.02% Chase Plus Savings

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates. Rates are believed to be accurate as of 7/21/20. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included one credit union in the list so that readers have a comparison point with banks.

In the past, most banks offered CDs that pay significantly more than their money market offerings. However, this doesn't seem to be the case currently. Overall, bank account interest rates are dropping across the board.

Frequent changes show how variable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

PFS

Credit Card Bonuses - Spring 2020

Save money on purchases and get cash back with coupon codes and the following credit cards:

Citi Dividend Card

• 5% cash back 4/1/20 - 6/30/20: Drugstores and Amazon.com
• 5% cash back 7/1/19 - 9/30/19: TBA
• 5% cash back 10/1/19 - 12/31/19: TBA
• 1% on everything else.

Discover Card

• 5% cash back 4/1/20 - 6/30/20: Gas Stations, Uber, Lyft and Wholesale Clubs
• 5% cash back 7/1/20 - 9/30/20: Restaurants and PayPal
• 5% cash back 10/1/20 - 12/31/20: Amazon.com, Walmart.com and Target.com 
• up to 1% on everything else.

Barclaycard Arrival World MasterCard (Travel Rewards)

• 2.1% on travel and dining
• 1.05% on everything else.
• No annual fee.

BankAmericard Cash Rewards

• 3% on a selected category (gas, dining, drug stores, home improvement/furnishings, online shopping, or travel)
• 2% at grocery stores and wholesale clubs (including Costco)
• 1% on everything else.
• No annual fee.
• Note: Rewards are higher if you have a Bank of America checking or savings account.

Costco Anywhere Visa Card

• 4% on gas
• 3% on restaurants and travel
• 2% at Costco
• 1% on everything else.
• There is no annual fee, however you must be a Costco member.

Citi ThankYou Card

• 2X points on Dining Out & Entertainment
• 1X points on everything else.

Barclaycard Arrival Plus World MasterCard (Travel Rewards)

• 2.1% on travel and dining
• 2.1% on everything else.
• ($89 annual fee after first year)

PFS

Money Market Rates March 2020

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

1.70% Marcus by Goldman Sachs (GS Bank) Online Savings
1.70% American Express High Yield Savings
1.50% Capital One 360 Money Market
1.50% Discover Bank Online Savings
1.50% Ally Bank Online Savings
1.00% FNBO Direct Online Savings
0.50% Unify FCU Money Market
0.04% Citibank Savings Account
0.04% Chase Plus Savings

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates. Rates are believed to be accurate as of 3/27/20. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included one credit union in the list so that readers have a comparison point with banks.

In fairness to the bottom three institutions on my list (Unify FCU, Citibank, and Chase), money market accounts are not their strong suit. Each of these offers short-term CDs that pay significantly more than their money market offerings. If your financial institution doesn't have a decent money market, you may investigate if they have any competitive CD rates.

Overall, MM account interest rates are dropping. Notably, the Ally Bank Online Savings account was paying 2.20% as recently as June 2019, and has now dropped to 1.50%. It will be interesting to see if the rates will continue to go down, or stabilize from here.

Frequent changes show how variable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

PFS

Stock Market Holidays

Every time that a holiday rolls around, I get to wonder if the stock market is open or closed on that day. Here is the current list of holidays that are observed by the U.S. stock markets:

New Year's Day - Closed
Martin Luther King, Jr. Day - Closed
President's Day - Closed
Good Friday - Closed
Memorial Day - Closed
Independence Day - Closed
Labor Day - Closed
Thanksgiving Day - Closed
Day After Thanksgiving - Early Close at 1:00 p.m. (ET)
Christmas Eve - Early Close at 1:00 p.m. (ET)
Christmas Day - Closed

PFS

Money Market Rates Are Still Falling

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

1.90% FNBO Direct Online Savings
1.90% Marcus by Goldman Sachs (GS Bank) Online Savings
1.90% Capital One 360 Money Market
1.80% Discover Bank Online Savings
1.75% American Express High Yield Savings
1.70% Ally Bank Online Savings
0.50% Unify FCU Money Market
0.06% Citibank Savings Account
0.04% Chase Plus Savings

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates. Rates are believed to be accurate as of 11/14/19. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included one credit union in the list so that readers have a comparison point with banks.

In fairness to the bottom three institutions on my list (Unify FCU, Citibank, and Chase), money market accounts are not their strong suit. Each of these offers short-term CDs that pay significantly more than their money market offerings. If your financial institution doesn't have a decent money market, you may investigate if they have any competitive CD rates.

Overall, MM account interest rates are continuing to fall. Notably, the Ally Bank Online Savings account was paying 2.20% as recently as June 2019, and has now dropped to 1.70%. It will be interesting to see if the rates will continue to go down, or stabilize from here.

Frequent changes show how variable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

PFS

Another Broker Price War

It all started with Charles Schwab announcing that they will eliminate commissions on U.S. stock, ETF, and option trades (they will still charge $0.65 per contract) as of Monday, October 7, 2019. I was then informed that TD Ameritrade has followed suit and will charge $0 commissions as of October 3, 2019.

In the middle of writing this post, I then heard from E*TRADE that they would also reduce their commissions to $0 on Monday. I have an old OptionsHouse account that is now administered by E*TRADE, and was already getting $3.95 trade commission.

So far, there is no news from Fidelity; I assume that they will continue to charge $4.95 per trade. This is another series of moves in the continuing price war among online brokers.

I stopped paying much attention to commissions when they dropped below $20 per trade, saying that "The difference of few dollars is not a big deal." But, it is interesting to note that stock commissions are still going down -- a true race to the bottom. I still remember the days when paying $45-50 per trade was considered very reasonable. We were comparing discount brokerages versus the full service guys at the time.

PFS

Money Market Rates August 2019

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

2.15% Marcus by Goldman Sachs (GS Bank) Online Savings
2.10% FNBO Direct Online Savings
2.10% American Express High Yield Savings
2.00% Discover Bank Online Savings
2.00% Capital One 360 Money Market
1.90% Ally Bank Online Savings
0.50% Unify FCU Money Market
0.06% Citibank Savings Account
0.04% Chase Plus Savings

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates. Rates are believed to be accurate as of 8/6/19. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included one credit union in the list so that readers have a comparison point with banks.

Although, most of the better MM accounts offer a rate of 2.00% or higher, these interest rates are beginning to drop again. For a long while, there was a significant uptrend in these money market rates. It will be interesting to see what happens in the longer term.

Frequent changes show how variable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

PFS

Money Market Rates June 2019

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

2.25% Marcus by Goldman Sachs (GS Bank) Online Savings
2.20% FNBO Direct Online Savings
2.20% Ally Bank Online Savings
2.10% American Express High Yield Savings
2.10% Discover Bank Online Savings
2.00% Capital One 360 Money Market
0.50% Unify FCU Money Market
0.06% Citibank Savings Account
0.04% Chase Plus Savings

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates. Rates are believed to be accurate as of 6/24/19. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included one credit union in the list so that readers have a comparison point with banks.

Most of the better MM accounts are now offering a rate of 2.00% or higher. These interest rates are now competitive. For a while, there was a significant uptrend in these money market rates. However, they now seem to have stabilized, and there has been little change from month to month.

Frequent changes show how variable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

PFS

Money Market Rates March 2019

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

2.25% Marcus by Goldman Sachs (GS Bank) Online Savings
2.25% FNBO Direct Online Savings
2.20% Ally Bank Online Savings
2.10% American Express High Yield Savings
2.10% Discover Bank Online Savings
2.00% Capital One 360 Money Market
0.50% Unify FCU Money Market
0.06% Citibank Savings Account
0.04% Chase Plus Savings

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates. Rates are believed to be accurate as of 4/22/19. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included one credit union in the list so that readers have a comparison point with banks.

Most of the better MM accounts are now offer a rate of 2.00% or higher. The interest rates are now very competitive, and I expect that will be a trend for a while.

The frequent changes show how variable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

PFS

Money Market Rates February 2019

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

2.25% Marcus by Goldman Sachs (GS Bank) Online Savings
2.20% Ally Bank Online Savings
2.15% FNBO Direct Online Savings
2.10% American Express High Yield Savings
2.10% Discover Bank Online Savings
2.00% Capital One 360 Money Market
0.50% Unify FCU Money Market
0.06% Citibank Savings Account
0.04% Chase Plus Savings

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates. Rates are believed to be accurate as of 2/13/19. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. (For example, Citibank currently offers a competitive (2.15%) promotional savings rate. However, it requires a $25,000 deposit of "new money" and drops back to their standard rate after 90 days.) I am also not including non-liquid accounts such as CD's in the list. I have included one credit union in the list so that readers have a comparison point with banks.

Most of the better MM accounts are now offer a rate of 2.00% or higher. The interest rates are now very competitive, and I expect that will be a trend for a while.

The frequent changes show how variable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

PFS

Credit Card Bonuses 2019

Save money on purchases and get cash back with coupon codes and the following credit cards:

Citi Dividend Card

• 5% cash back 1/1/19 - 3/31/19: Gas Stations & The Home Depot
• 5% cash back 4/1/19 - 6/30/19: Drugstores & Fitness Clubs
• 5% cash back 7/1/19 - 9/30/19: Airlines & Car Rentals
• 5% cash back 10/1/19 - 12/31/19: Best Buy & Department Stores
• 1% on everything else.

Discover Card

• 5% cash back 1/1/19 - 3/31/19: Grocery Stores
• 5% cash back 4/1/19 - 6/30/19: Gas Stations, Uber and Lyft
• 5% cash back 7/1/19 - 9/30/19: Restaurants
• 5% cash back 10/1/19 - 12/31/19: Amazon.com
• up to 1% on everything else.

Barclaycard Arrival World MasterCard (Travel Rewards)

• 2.1% on travel and dining
• 1.05% on everything else.
• No annual fee.

BankAmericard Cash Rewards

• 3% on gas
• 2% at grocery stores and wholesale clubs (including Costco)
• 1% on everything else.
• No annual fee.
• Note: Rewards are worth more if you deposit them into a Bank of America account.

Costco Anywhere Visa Card

• 4% on gas
• 3% on restaurants and travel
• 2% at Costco
• 1% on everything else.
• There is no annual fee, however you must be a Costco member.

Citi ThankYou Card

• 2X points on Dining Out & Entertainment
• 1X points on everything else.

Barclaycard Arrival Plus World MasterCard (Travel Rewards)

• 2.1% on travel and dining
• 2.1% on everything else.
• ($89 annual fee after first year)

PFS

Money Market Rates October 2018

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

2.00% FNBO Direct Online Savings
1.95% Marcus by Goldman Sachs (GS Bank) Online Savings
1.90% Ally Bank Online Savings
1.90% American Express High Yield Savings
1.90% Discover Bank Online Savings
1.85% Capital One 360 Money Market
0.50% Unify FCU Money Market
0.04% Citibank Savings Account
0.04% Chase Plus Savings

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates. Rates are believed to be accurate as of 10/19/18. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included one credit union in the list so that readers have a comparison point with banks.

Several of the high end MM accounts are now offer a rate of 1.90% to 2.00%. The interest rates are now very competitive, and I expect that will be a trend for a while.

The frequent changes show how variable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

PFS

Money Market Rates August 2018

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

1.85% Marcus by Goldman Sachs (GS Bank) Online Savings
1.85% FNBO Direct Online Savings
1.85% Capital One 360 Money Market
1.80% Ally Bank Online Savings
1.80% American Express High Yield Savings
1.75% Discover Bank Online Savings
0.50% Unify FCU Money Market
0.04% Citibank Savings Account
0.04% Chase Plus Savings

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates. Rates are believed to be accurate as of 8/29/18. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included one credit union in the list so that readers have a comparison point with banks.

Several of the high end MM accounts are now offer a rate of 1.75% to 1.85%. The interest rates are now very competitive, and I expect that will be a trend for a while.

The frequent changes show how variable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

PFS

Money Market Rates July 2018

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

1.80% Marcus by Goldman Sachs (GS Bank) Online Savings
1.75% FNBO Direct Online Savings
1.75% Ally Bank Online Savings
1.75% American Express High Yield Savings
1.75% Discover Bank Online Savings
1.75% Capital One 360 Money Market
0.50% Unify FCU Money Market
0.04% Citibank Savings Account
0.04% Chase Plus Savings

In some cases, MMA interest rates are tiered. If this is the case, I usually report the interest rate at the $10,000 tier in these updates. Rates are believed to be accurate as of 7/11/18. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list. I have included one credit union in the list so that readers have a comparison point with banks.

Several of the high end MM accounts are now offer a rate of 1.75%. This rate is higher than most of the short-term (1 year or less) CDs that I could find. I have a couple of CD accounts that I will now consider closing at maturity or sooner. The interest rates are now very competitive, and I expect that will be a trend for a while.

The frequent changes show how variable the money market is. Because this is a constantly moving target, it has been very hard to keep track of the rates that I've been getting in my various money market accounts, and this is the main reason I've decided to compile a list of these annual percentage yields.

So, that is the latest list of money market rates. Please let me know if you know of any higher interest rates.

PFS