[deleted]

I guess my question for me is how important is instant transfers over better interest rates then?

What's best way to determine if it's worth it

Calculate how much monthly/annual interest you would make in a high yield account and then compare that price to the convenience of instant transfers.

Do the math on how much you really will make at Ally vs Chase (based on how long you expect to keep money there and how much money you will be keeping on deposit). That will give you a fairly solid number with which you can decide if it is worth the convenience of having everything at Chase vs the extra money you would get at Ally.

[deleted]

I know ally won't be some crazy high amount. Given current rates it would result in a 1099-int but not a big enough number to be wowed if that makes sense.

Sounds like may as well just keep my money in the same place

That makes sense too. My brain is on the ADHD side so being able to visually see the savings and slide money to it immediately is what's appealing to me knowing how my brain works

There are advantages beyond monetary for doing so. I use Schwab Bank for most of my banking, and it is linked to my Schwab Brokerage account. My e-fund sits in the brokerage account, invested in a money market fund. It doesn't pay quite as much as the better HYSAs, but if I need to make an emergency payment it's simple to transfer money between the two accounts.

That makes sense as well. I link all my accounts so the actions are easy but having 2 different apps and sites is not my favorite thing

[deleted]

Instant transfers are worthless. Pay with a credit card and pay off with savings, you have up to a month to transfer the money depending on purchase and due date.

Heh I do (smartly) play the credit card game so that works too