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CNBC

Here’s how the Fed’s rate cut will affect your high-yield savings account

By Megan Leonhardt

Betterment’s interest rate will also move in a similar direction to the Fed rate — although customers who signed up for the Everyday Checking account waitlist will see a higher rate than those who opted out. The current, non-promotional variable rate for the Betterment Everyday Savings is 2.43% APY. “The very structure of the account is that the [interest] rate floats with Fed funds,” Adam Grealish, Betterment’s director of investing, tells CNBC Make It.

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This article originally published July 31st, 2019 on CNBC