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Why a High APY Plus Zelle Is So Useful

Earning a strong return on your savings is not only smart, but with current inflation, it’s essential—otherwise, your money loses value over time. Fortunately, the 澳洲幸运5官方开奖结果体彩网:best high-yield savings accounts don't just beat inflation, they pay more than 10 times the national average savings rate.

But if you’ve ever split a dinner bill with friends or you share utilities with a roommate, you can appreciate the convenience of peer-to-peer payments. While many savings accounts offer either a strong APY or fast, built-in money transfers—rarely both—we found three accounts that stand out by offering rates up to 4.50% and the ability to pay people with Zelle. (We also have one bonus op♎tion that’s a bit different, but pays 5🎶% APY.)

Zelle is a peer-to-peer 澳洲幸运5官方开奖结果体彩网:money transfer service that allows users to send money from one bank account to another through 𝔉a computer or mobile device. More than 2,200 banks and credit unions offer Zelle, and the money is typically received within minutes. There are no fees for instant transfers, even if the sender and recipient use different banks.

Top-Paying Accounts That Offer Zelle

Among the contenders in our daily ran🎉king of the highest-paying savings accounts, only these three offꦿer Zelle.

• Minimum opening deposit: $5,000
• Minimum balance requirement: Any amount
• Other details: Must open and maintain an Advantage Checking account to get the stated rate; otherwise savings account earns 4.00% APY

澳洲幸运5官方开奖结果体彩网:Poppy Ba💞nk’s Premier Online Savings – 4.40% APY

• Minimum opening deposit: Any amount
• Minimum balance requirement: $1,000 to earn the stated APY
• Other details: $5 monthly fee, waived with e-statements

澳洲幸运5官方开奖结果体彩网:Bask Bank’s Interest S🐠avings – 4.20%꧃ APY

• Minimum opening deposit: Any amount
• Minimum balance requirement: Any amount

In addition to these three high-yield savings accounts, we have one bonus option—a 澳洲幸运5官方开奖结果体彩网:high-interest checking account. You'll need the ability to set up direct deposit in order to earn its high 5.00% rate, but if you can meet that criterion, this is another excellent Zelle option. Note that although this is a checking account, there's no reason you can't use it simply as a savings acඣcount.

• Minimum opening deposit: $25
• Minimum balance requirement: Any amount
• Other details: Earn the stated APY on balances up to $50,000. But to be eligible for that rate, the account must receive $2,000 in direct deposits per month.
  

More About Zelle

Zelle is easy to use, though it does require that both the sender and the receiver of the money enroll in the service. Previously, consumers could send or receive money from the Zelle app, but users must now access the service through a bank or 澳洲幸运5官方开奖结果体彩网:credit union. 🍃Your financial institutio🍌n may limit how much money you can transfer through Zelle per transaction and within a certain time period—whether that’s daily, weekly, or monthly.

Zelle is generally safe, utilizing authentication and monitoring much like your banking app. That said, Zelle does not offer payment protection or a way to undo a transaction if you send money to the wrong person. It also recommends that you treat Zelle like cash, and don’t use it to send money to someone you don’t know or don’t trust.

Find the Best Savings Account for You

When choosing a high-yield savings account, start by looking for one with a top APY to maximize your interest earnings. (Our ranking of the highest savings account APYs available, updated every business day, is a good place to start.) Rates can change, but starting high gives yᩚᩚᩚᩚᩚᩚ⁤⁤⁤🌠⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚou the best return. Check for minimum balance requirements—both to open the account and to earn the highest rate—to ensure they work for your financial situation.

How We Find the Best Savings and CD Rates

Every business day, Investopedia tracks the rate data of more than 200 banks and credit unions that offer CDs and savings accounts to customers nationwide and determines daily rankings of the top-paying accounts. To qualify for our lists, the institution must be federally insured (FDIC for banks, NCUA for credit unions), and the account's minimum initial deposit must not exceed $25,000. It also cannot specify a maximum deposit amount that's below $5,000.

Banks must be available in at least 40 states to qualify as nationally available. And while some credit unions require you to donate to a specific charity or association to become a member if you don't meet other eligibility criteria (e.g., you don't live in a certain area or work in a certain kind of job), we exclude credit unions whose donation requirement is $40 or more. For more about how we choose the best rates, 澳洲幸运5官方开奖结果体彩网:read our full methodology.