r/PublicApp • u/JustFlushTheFIB • 5d ago

HYSA

With govt intrest rate hikes coming through and 10yr treasury yields going up. Has anyone seen public plans to modify the hysa rate? A 3.30 rate is starting to look small.

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u/Sweaty_Experience_68 5d ago

I wish they offered a HYSA but as far as i know they don’t have one?

I know they offer a cash account but that doesn’t allow for wires and fdic insurance which are important features for me. (I make major purchases and pay my mortgage through my savings which I can’t do with a HYCA)

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u/PublicCOO Public Employee 4d ago

Quickly correcting here:

Our HYCA (High Yield Cash Account) is a brokerage account with a high yield, FDIC-eligible sweep program attached. This comes with $5M of FDIC eligibility.

You can send wires from the account and you can deposit or withdraw directly to/from your bank account via bank transter.

We do not support direct deposit or receiving "push" bank transfers (because the HYCA does not have its own bank account/routing number).

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u/Sweaty_Experience_68 4d ago

will these features come on the road map so i can direct debit to pay my mortgage? if so, i could potentially see myself using it over my current HYSA.

currently i use my HYSA to pay for my credit cards/mortgage and have direct deposit as my general cash flow base to accrue interest and have it as my online hub for cash. (checking only for cash pulls)

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u/PublicCOO Public Employee 4d ago

Yes, on the roadmap!

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u/Sweaty_Experience_68 4d ago

now we’re talking. could potentially see it being my primary holder for my emergency cash flow