Thanks to a rush of fintechs and nonbank alternativ­es,

you no longer need to settle for pitiful bank deposit returns. Goldman Sachs’ digital bank, Marcus, and Fintech 50 members Betterment and Credit Karma are among those paying 1.7% or more on FDIC-insured money-market accounts. Even better, the fintechs will spread your money among multiple banks, boosting your effective FDIC insurance coverage from $250,000 to $1 million or more. Or, for 0.08% a year, MaxMyInter­ links to your bank account, sweeping excess cash to the highest-paying

insured accounts online. —Sarah Hansen

Newspapers in English

Newspapers from United States