Comment Re:aka (Score 1) 133
His backing bank is probably going to lose a bunch of money by offering rates like this, which makes me think that's going to be a "promotional" rate that goes away quickly.
I suspect there will be some limitations and/or requirements to the 6% rate... kind of like T-Mobile Money has a limit to it's "higher than average" interest rate (it's 4% for the first $3k and 2.5% beyond that). So if you have more than $3k in there, you're actually getting less than a good HYSA will give you. I'm not sure if they still do, but T-Mobile also had other requirements to even qualify for the 4% rate (like a minimum number of debit transactions per month, last I recall).