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Realized I was overpaying after a broker visit in Denver
I always used banks for everything, savings, checking, the whole deal. Then I stopped into a Charles Schwab office near 16th Street Mall last month just to ask about their fee schedule. The guy showed me their high-yield checking pays 0.45% while my bank was giving me 0.01%. I moved $12,000 over that day and I'm up maybe $45 in interest so far. Has anyone else found hidden fees or rates at their bank that made you switch to a brokerage?
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kelly.emma24d ago
Wait is that 0.45% right though lol I thought Schwab's high-yield checking was at 0.30% last I checked? Their investor checking with the brokerage account is 0.45% but only if you also have a linked brokerage account or something. Still way better than 0.01% though so no hate on the move.
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wren_thomas1624d ago
What's the interest rate on Denver's sidewalk tips these days, probably still better than 0.01%? lol And yeah @kelly.emma you're right, it's 0.45% with the brokerage account linked. I signed up for the brokerage to get the rate, then forgot to actually fund it for three weeks. So far I've made like $4.50 more per month on my emergency fund which is basically one less sad burrito purchase.
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