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Originally Posted by Chocaholic
Excellent. We’ve been using Marcus (Goldman Sachs) without issue, but currently at 3.75 APY. 5.02 looks better! All variable, of course. We’ve also got a few shekels with 1st Franklin Financial at 4.5, but no FDIC with them.
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None of the brokerage's money market funds, etc. have the FDIC protection. I've mentioned brokerage (Fidelity for me) CDs before which offer higher yields, liquidity, and have FDIC protection. I have my parents in them, but I don't currently. Same limits apply though, but through Fidelity you could purchase up to 250K each of JP Morgan, Wells Fargo, Discover, Goldman Sachs, etc. or hundreds of smaller banks' CDs and have it all protected via the FDIC. The yields will beat any other CD offerings even directly from those banks. Link it to your bank/CU account, and it's easy peasy access to higher returns.