Physical banks aren’t safer than online banks

Physical banks aren’t safer than online banks

Online high yield savings banks like Ally, Sofi, and CIT give you way better interest rates because they pass off the savings of not having brick and mortar branches onto YOU.

Same with the Charles Schwab debit card. They don’t have ATMs, but I take out as much cash as I need every few days from any ATM all over the world and don’t have to pay ATM or exchange fees. I’ll get tens of thousands reimbursed over the course of my lifetime, which I’m investing instead. 

Meanwhile, Bank of America has physical branches. I remember not knowing any better and using their debit card to get cash out and getting dinged when I didn’t use a BOA ATM. And their interest rates were/are trash.

Physical branches does NOT mean better or safer at all. Wells Fargo’s tentacles are everywhere and they scammed millions of people into creating fake ghost accounts. 

Rethink where you park your cash so that you get more money back in interest. Once you’re smarter with your cash, you’ll be smarter with investing for early retirement. i hosted a FREE high yield savings class for you to learn how to make your money grow. Watch the replay here! 
Using my high yield savings account to fund my travels!

About Charly

Charly is a formerly undocumented digital nomad helping first gen clients embody their millionaire selves. Charly’s clients go from feeling guilty and anxious about money to feeling empowered to make money moves and PLAY more. Work 1:1 with them here.

The language of money seems intimidating because it’s designed to exclude those who are not familiar with it. Charly is all about changing that and making our community wealthy AF!

Follow Charly on IG: ⁠⁠@travelercharly⁠

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