A lothas happened this year, including the fact that interest rates have bottomed out at near zero.
Whats that mean for you?
Lets take the good with the bad.
Thumbs down: Your bank is probably paying you virtually no interest.
So what if you want to earn some real interest on the money youre banking?
The problem is, thats likely not going to happen at a traditional bank.
Instead, it could be time to upgrade to the fee-freeWealthfront Cash Account.
No Interest Til Almost 2027?
Its been taking off.
So far, Wealthfront has paid its clients more than $115 million in interest from the Cash Account.
you might use Wealthfront Cash like a regular checking account.
Its easy to set up direct deposit and you might even get paid two days early.
Wealthfront wont charge you any monthly or maintenance fees or any account fees at all, really.
There is no overdraft option, so you dont have to worry about overdraft fees, either.
At a traditional bank, the FDIC insures your holdings up to $250,000.
But Wealthfront works with multiple third-party banks that each provide FDIC insurance on deposits.
That way, Wealthfront insures your deposits up to $1 million.
It only takes $1 and a few minutes toopen a Wealthfront Cash account.
Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
