All Forum Posts by: Nicholas N.

Hi Andy, savings accounts or interest-earning checking accounts with a decent APY (1.8 %- 2.2 %) don't usually offer same-day wire transfers or limit you to $25K or 2-3 days ACH and no cashier's check. A standard checking or savings account has no such limitations but you don't earn any interest or at least a meaningful interest (they offer a pathetic 0.06%). Factor in the inflation rate and if you are money is just sitting there waiting for the right investment opportunity you are actually losing money. Trying to maximize my return. I'm currently looking into "HSBC Direct Savings", looks like it might be an option, a current APY of 2% and ability to wire out same day with no limits. 

True, but nowadays it takes me many months to find a deal. Will be nice if I can earn a bit of interest meanwhile. For example $200K @ 2% APY = $4K/year earned interest.

Looking to park $100K-200K$ and earn interest. If I win a foreclosure auction I need to be able to wire-transfer that amount of funds to the court's account the same/next business day. Otherwise you loose the auction and your deposit. Most high yield savings or interest-earning checking accounts I looked into seem to have a $25K/transaction limit or 2-3 business days for wire. Any suggestions? Where do you all keep your foreclosure auction money, earn interest and still be able to wire them quickly?