Square Savings

[Bronze_Palms]

I just got an email from Square talking about Square Savings at a 3.5% interest rate. I bank with Sofi Savings at 3.1%. Curious to hear if anyone else uses a Savings and what your interest rates are at

[Doran]

Hi!  I've been with Square Savings and checking for a few years now.  I'm happy with it.  The rates go up and down and depend on how much you keep in there and market rates.  But overall very easy to use.  I have auto folders set up for different categories. It makes planning long-term capital projects super easy.  I like that I can turn folders on and off, set limits, and move easily between savings categories and checking.    

[schaefferjosh]

We have both the square checking and savings accounts, but we just recently started using the savings. Our main checking is through American Express, and having the Square checking allows us to actually do cash deposits. We do not have enough in the accounts to get the 3.1% interest, so for the most part or money sits with Amex, generating 1.3% minimum. 

The Square savings has been great so far though! We have buckets set up that automatically transfer x amount from a C/D transaction for general savings, tax, and a rainy day fund. It has been an incredible tool so far.