Pros
4.0% APY on every dollar: Earns well above the national savings average with no rate tiers or balance caps.
No fees or minimums: No monthly maintenance fee and no minimum balance to open or keep the account.
No transaction limits: Move money in and out as often as you need, unlike accounts capped at six withdrawals.
Cons
Online-only: A fully digital account with no branch network for in-person service.
Newer brand: Less of a track record than large national banks; deposits are held at 22nd State Banking Company.
Variable rate: The 4.0% APY can move with market conditions and isn't locked in.