Good evening, y'all.

Curious about anyone's experience with different savings account providers.

The wife and I have cash/checking/equity/529 accounts with Fidelity, but she prefers to have a ton of little savings accounts where she squirrels a little bit each for things like vacations, christmas, etc., and each kid has their own account for bday money and the like (she doesn't want the accounting on paper with commingled funds - she wants separate accounts). We currently use Chase, but their fees suck and for some reason the Fidelity EFT system doesn't want to transfer $$ into chase savings accounts (checking worked fine). We need easy access to transfer money in between these accounts. and online access with a phone app is a necessity. High interest isn't a necessity - that's what other money accounts are for - and while I wouldn't mind some sort of return if possible, I'd choose for easy access, easy EFT with fidelity and good mobile banking above higher interest.

Any thoughts are greatly appreciated.

EDIT - Also, forgot to mention. If we can get a ton of savings accounts with a single atm card, even better.

 

I'd look for a Federal Credit Union near you, they're usually great to work with for things like these. Two that come to mind are SchoolsFirst FCU (mainly for folks in education) and Alliant FCU. I use both with great success

 

Do the kids have their own cell phones?
If so, you can set them up to recieve deposits in their Chase accounts via Zelle, which is instant and without the three-day lag of bank-to-bank transfers. I can transfer money from my BofA accounts to my kids` Chase accounts via Zelle.

Also, my kids had student accounts at Chase which had no fees, IIRC.

 

Like Chase, I think you will find that most brick and mortar banks have fees for these accounts.

Not sure if this will work for you, but Ally has a feature in their online savings account called buckets where you can tag money for different things and keep it all in one account.
https://www.ally.com/do-it-right/ban...-and-boosters/

 

I use ally bank. Pretty easy to use and they have an app as well and for me it's been very easy to move money between accounts using Ally. Their savings rate is on the higher side also (it's pretty low everywhere now though due to the low fed rates)

 

If you’re looking for the highest interest rate, HMBradley’s 3% is hard to beat. The caveat is that there’s some qualifications that need to be met, but it’s fairly easy to do so. This is truly a savings account, not a checking account masquerading as a savings account. Practically, if you optimize its usage, it’s more of a no-penalty CD masquerading as a savings account.

 

I also use Ally. I find it easy to use and although the rate is nothing special, it is still better than most places out there.

I remember 10+ years ago I had a savings account somewhere else with a 5% rate... I miss that.

 

https://www.doctorofcredit.com/high-...avings-to-get/

 

We use Barclays bank online for savings accounts. The bulk of our liquid cash is there, we keep some at Wells Fargo just because it's easy and quick to get to if needed but everything else goes to Barclays because of the substantially higher interest rate.

 

Thanks, all.

I'll give her the information - since these are her pet project accounts, she'll decide the best for what she wants. (as long as I have my equity account to play in, IDGAF about the savings account structures). I'd be willing to bet Ally, with their bucket structure, would be her favorite.

 

I do the same thing in Capital One 360 (used to be ING Direct). I look at them as "folders" under the same login even though they do have unique account numbers. I think the one is high-yield and the rest are not. Easy EFT from account to account and in and out of my other banks. They're all consolidated on one 1099 at the end of the year so that is nice.