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Verisail Partners

20 Second Advisor: Is your cash living up to its potential?

Are you sitting on a lot of cash? That’s a good problem to have, but wouldn’t it be nice to earn a yield on that money?

Traditional brick and mortar banks aren’t offering much of anything in terms of interest rates. Leading online banks are a better alternative, but they change their rates periodically.

We all want to optimize our returns, but who has time to keep track of the details? I recently learned about Max, an automated cash management solution designed to help you earn more on your cash.

From my understanding, Max monitors interest rates daily. When rates change, Max automatically moves your money between your brick and mortar and any online accounts you have to maximize interest earned. It also will help you manage your cash to stay within the FDIC limits.

Full disclosure: I do not personally use Max. I just thought it was an interesting concept to help you earn more on your cash. It is definitely worth looking into if you are sitting on a lot of cash.

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