best account for interest on cash?

BKR88 said:
UFB Direct is one of the banks on a website I use to pick online banks. I have 10-15 banks but not UFB Direct. I usually read some of the reviews on this site before opening an account. As long as they're FDIC insured & not really bad reviews then I don't do much other research.
https://www.depositaccounts.com/savings/

Here's the short-term CDs at Fidelity.

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Do EUR CDs exist?

Apparently not at IB: "IBKR offers only brokered U.S. Certificates of Deposits (CDs) which are listed for trading on a secondary market. Unlike CDs purchased directly from a bank, brokered CDs cannot be redeemed prior to maturity but can be sold prior to maturity, assuming a secondary market exists."

https://www.interactivebrokers.com/lib/cstools/faq/#/content/28220937
 
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BKR88 said:
If in the U.S. I'd go with Fidelity if your top priority is interest on spare cash.
They keep all spare cash in a fund currently earning 4.3%. They also offer 1-month CDs yielding 4.7-4.95% and longer-term CDs with a bit higher yields (5-6%).
Brokers like TDA/Schwab allow you to purchase funds at no cost but that needs to be done manually so not quite as convenient & it takes 24 hours to withdraw from the fund to use it for purchases. Those funds also yield +4%.

Personally, I'd avoid sending $$ out of the country chasing the 7% yield. Higher yield is often higher risk. What insurance would you have if something goes wrong with the broker?
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SCHW money market has been paying 4.44%+, subject to change. Do have to plan 24 hours in advance, but looking under the hood looks ,much better than a foreign bank.
Foreign bank sounds like a huge risk. It was not Argentina , maybe Ecuador, people commonly steal postage stamps off letters = a big time mess.
Uruguay used to be like Switzerland of So America, but things change:caution::caution:
 
CoolTrader said:
If you want to withdraw at any time, Ally Bank's money market offers 4%.
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Cool cash/ Cool Trader\ SCHW money market+ most pay 4.44% or better.Really adds up over time maybe not as good as SPY or qqq but every little bit helps...........................................
 
I prefer Fidelity's US Treasury's Money Market. For the bigger bucks why not be totally safe and not have to be concerned about having to become a "bank creditor". Still get 4% the last time I checked my yield.
 
Near-term US Treasury bonds. They’re existentially risk-free, and paying a decent (4.7%) rate right now.

To get a fill for smaller amounts (less than USD10M) you might have to cross the spread, sweeten the deal, and go a few points deeper into the book. For example, say you’re buying USD100k and the Bid/Ask is 97.824/97.907, and the yield is 4.732/4.689, you’ll have to pay a bit more; and bid, say, 97.911 or so. This will bring your yield down around to 4.681, but otherwise they won’t bother with you; your order will may just sit there unfilled.

Assuming you’re in the USA, munis are also a nice option, because they’re exempt from local, state, _and_ Federal tax.
 
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