Does anyone here have experience with a SFGI Direct Savings Account?

[El_Mero_Mero]

Ally Bank just dropped their rate again (b*stards).

I'm thinking of opening up an account with SFGI Direct because I need a better rate. I don't need an app on my phone, checks, or many of the other features that alot of the other HYSA advertise. All I need to do is transfer funds from my main bank account to the SFGI Direct account every so often.

Any of y'all used them before?

 

[Skooby]

I haven't but now I'm curious. I also bank with Ally.

 

[El_Mero_Mero]

I don't see much about it online, so that is a little bit off-putting, but if you're somebody that's just interested in savings and doesn't care about an online app and checks and things like that, it seems like a good place to put your money.

 

[Barnett114]

Every bank is dropping their savings rates because the feds are dropping rates.

Chasing a rate is pointless.

 

[El_Mero_Mero]

This may be true, but currently SFGI Direct is at: 2.27 APY /2.24 Interest Rate.

Didn't Ally just drop down to 1.70? This is somewhat significant if you are trying to see growth.

I'm not going to close my Ally account, but I might just open up an additional account and possibly direct more funds into the additional account than I doing into the Ally account.

 

[El_Mero_Mero]

Just as a word of warning, I did read in some of the reviews that if they find a security alert or fraud alert when they are setting up your accounts, then they will not open up your account or make it very difficult to open up. I'm not sure if anyone falls into this category on these boards, but just letting you know.

 

[El_Mero_Mero]

Not sure if any of you looked into this any further, but given my financial situation and my needs, I think I'm going to try to open up an account with them this week. I already have an Ally account (that I intend to keep), but this one will give me slightly better savings.