The 6 BEST Bank Accounts of 2023 (High Yield)

In this video we are looking at the 6 best bank accounts of 2023. These are mostly high yield savings accounts that pay high interest rates as a reward for keeping your cash with these banks! Almost every high yield savings account in this video has an ability to pair a checking account with it as well, so that gives you a lot of options for what you can do with the money you keep in these best bank accounts.

For me, SoFi has been one of my personal favorite bank accounts to use with their checking and savings account combination. But lots of other bank accounts and high yield savings accounts in this video from Capital One, Ally, Wealthfront, and Discover are great options as well for earning a lot of interest on any deposits. I also really like the Charles Schwab Investor Checking Account for its ability to still earn a pretty good APY on checking balances, but this account also gives customers unlimited ATM fee reimbursements which is amazing!

I personally like to pair some of these accounts together to get the best features and benefits that they all offer on their platforms. But no matter what bank accounts you choose as your checking or savings accounts, just make sure that they are high interest with a good APY. Also, make sure that they have absolutely no fees or minimums! There’s lots of options out there, but these are some of the best high yield savings accounts of 2023 in my opinion.

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The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.

Daniel Braun is not a financial advisor. This video is for entertainment and educational purposes only, it is not financial advice.

[awolmel]

Intro 0:00
1) Sofi Checking & Savings 0:55
2) Capital One 360 Savings 4:37
3) Ally Online Savings 6:27
4) Wealthfront Cash 9:10
5) Discover Online Savings 12:00
6) Schwab Checking Account 13:43

[cruiserusa]

Hey Daniel, you just earned my subscription. You speak, summarize, edit and present the information very well. Keep going this way.

[Mary-bgkx]

Perfect timing! I have been looking for a HYSA to put emergency funds and this was just what I needed. Ended up going with Wealthfront for the high interest rate.

[spaghetti]

I’ve banked with Discover for 2 years now and it’s my main bank. If you’re the kind of person who either doesn’t keep much money in your checking account or you just don’t have a lot left between paychecks, that 1% cashback is gonna earn you way more than say capital one’s 0.10% interest. I don’t use my debit card as much as I was when I first started using them but I still get about $3 - $5 back each month for the times I do use it. And they just made it so you can add cash at Walmart locations

[EthanPatrick_CreditCards]

When you really think about it everyone should have a high yield savings account, at least for their emergency fund. This was a great video covering some great options. I'll have to check out Sofi. Thanks for that Daniel!

[VattanaThach]

Something notable about capital one is that you can deposit cash for free at CVS.

[tonim]

Helpful video. Though I think it would have been more helpful to include that some of these banks have an APY of over 4% after you reach a 5k balance.

[MannyCovington]

Keeping your emergency fund in a HYSA is a great way to get that great interest rate while also incentivising people to save!

[KS-jfed]

Realized that if I wanted to get more money I would need to switch bank accounts. 0.01% is SUCH A JOKE. It was hard to let go of the brick-and-mortar banks like Chase since it felt 'safer', but the interests in some online bank accounts are too good to pass up. I haven't regretted my decision at all yet! Great video Daniel! Hope everything is going smoothly in life :)

[zbvtmfe]

Thanks for the video, bro! Helped a lot

[PointsInbound]

It's easy to think that 3% back isn't very much, but it's important to keep cash somewhere, and that 3% or so is part of a bigger picture of making good financial decisions. 👍

[negashanthamilventhan]

hey, thanks a lot for the great video! I just have one question: can I open a savings account as a non us resident (europe)?

[NoName-xctk]

Do NOT choose Bank of America, their security is so shit 💀💀 my account got hacked and my money was stolen and this has also happened to my mom 3 TIMES

[nelliemar]

Thank u for addressing the sofi info! I wish I could also get the direct deposit but better than nothin !

[ZH-tkce]

Ally Bank's savings just increased from 3.4% to 3.6... nice

[sjvqjhk]

Thanks for the review, very informative, keep it up

[bitterswtmocha]

when establishing a new HYSA, are you using a wire transfer to move money or slow, small ACH transfers over time?

[iamsean]

opened a capital one performance saving and 360 checking. they also have auto/recurring transfers

[dracodragon]

Pro tip: check with your local credit unions to see their rates!!! I have a few cds open with navy federal and one of them pays 5% Interest which is nice for an emergency fund

[Americanpatriot]

Insightful video. I just want to know best how people split their pay, how much of it goes into savings, spendings or investments. I'm 27, and earn nothing less $150k per year, but nothing to show for it yet.