Savings Roundup — Updated July 2026
Best High-Yield Savings Accounts
SoFi, Wealthfront Cash, and Betterment Cash Reserve compared side by side — APY range, minimums, fees, and who each one actually fits. No stale numbers: we frame rates as ranges because they move constantly.
Quick answer
SoFi is our default pick for most people — pair it with direct deposit and it becomes both your everyday bank and a competitive savings rate in one app. Wealthfront Cash tends to run the highest ongoing rate with zero balance or direct-deposit requirements, so it's the pick if squeezing out every basis point matters more than a single app. Betterment Cash Reserve makes the most sense if you're already investing on Betterment and want your goals in one place.
The Comparison
| Account | APY (as of July 2026) | Min. Balance | Fees | Standout Feature | Get Started |
|---|---|---|---|---|---|
SoFi SavingsOur Pick | ~3.1% standard, up to ~3.8% with direct deposit | $0 | $0 | One app for savings, checking, and a sign-up bonus for switching your paycheck over | Open SoFi |
Wealthfront Cash Best for max yield, no strings | ~3.3% ongoing, promo boosts have pushed it past 4% | $1 | $0 | No direct deposit or balance requirement to earn the full rate; spreads cash across a network of partner banks for FDIC coverage well beyond a single $250K account | Open Wealthfront |
Betterment Cash Reserve Best if you already invest with Betterment | ~3.25% ongoing, new-client boosts have run as high as ~4% | $10 | $0 | Named savings goals sync directly with Betterment's robo-advisor and retirement accounts | Open Betterment |
APY figures are ranges as of July 2026 and include limited-time promotional boosts where noted — rates are variable and change with the Fed funds rate. Always confirm the live rate on the provider's site before opening an account.
How We Picked
We only compare accounts we'd actually recommend to a friend: FDIC-insured, no monthly fees, no hidden minimum-balance penalties, and a rate that's been consistently competitive over time rather than a one-off teaser. SoFi, Wealthfront, and Betterment all clear that bar and are also where Speedrun Finance has affiliate relationships — that's disclosed below, and it doesn't change the rate you get or cost you anything extra. Marcus, Ally, Amex, and Discover are worth considering too, especially if you already bank there, but we don't run affiliate links for them so we've kept them out of the table rather than publish numbers we can't keep current.
Frequently Asked Questions
Why don't you list an exact APY number for each account?
Because it would be wrong within weeks. HYSA rates are variable and move with the Fed funds rate — plus every provider runs limited-time promo boosts on top of their standard rate. We refresh the ranges above periodically, but always check the provider's page for the live number before you open an account.
Is my money safe in these accounts?
Yes. SoFi, Wealthfront, and Betterment all place cash with FDIC-insured partner banks, and several use sweep networks that spread your balance across multiple banks — extending your coverage well past the standard $250,000 single-bank limit. Confirm the current coverage details on each provider's site before depositing large sums.
What about Marcus, Ally, Amex, or Discover?
All solid, no-frills options if you already bank there — Marcus and Ally in particular have a long track record of competitive, no-minimum savings rates. We don't run affiliate links for them, and Discover has periodically paused new savings applicants, so we're not putting stale rates in a table for them. If your current bank is already paying a competitive rate, there's no urgent reason to switch.
Should I keep my emergency fund in one of these?
Yes — a HYSA is the correct home for an emergency fund. You want it liquid, FDIC-insured, and earning more than the ~0.01% APY most big banks still pay on savings. See our emergency fund guide for how much to keep there.
HYSA vs money market fund vs CD — which one?
For money you might need on short notice (an emergency fund, a house down payment within a year or two), a HYSA wins on liquidity. CDs can pay slightly more but lock your money up and charge an early-withdrawal penalty. Money market funds at a brokerage are a close substitute for a HYSA and often used interchangeably.
Ready to open one?
Start with SoFi, then compare live rates yourself
All three accounts above take under 10 minutes to open, have $0 monthly fees, and are FDIC-insured. If you want the single best default, start with SoFi and set up direct deposit — otherwise, open whichever rate is winning today.
Affiliate disclosure: Speedrun Finance may earn a commission if you open an account through the links on this page. This does not affect the rate you receive or cost you anything extra.