If you’re not using Max to optimize the interest you earn on the cash portion of your portfolio, you’re most likely leaving money on the table.
New York, NY (PRWEB) September 23, 2014
MaxMyInterest, an intelligent cash management solution that helps investors automatically maximize the interest they earn on their bank deposits, has added First Republic Bank to its platform. Customers of First Republic can now link their checking accounts to Max and begin earning more interest on their cash.
“We are proud to include First Republic Bank, which provides exceptional service to discerning customers,” said Gary Zimmerman, chief executive of Six Trees Capital LLC, the company behind MaxMyInterest. “We look forward to welcoming First Republic Bank customers to Max, helping them benefit from our innovative cash optimization service.”
The first public demonstration of MaxMyInterest will occur this afternoon at the FinovateFall financial technology conference in New York City. At the conference, Zimmerman will announce that the MaxMyInterest service is now open to all investors (previously, the service was available by-invitation-only.) Investors can visit the website at MaxMyInterest.com from any device to join Max and start optimizing their accounts. The site also contains an explanatory video and interactive calculator that shows investors just how much more they could earn by using Max to automatically optimize their cash.
First Republic joins Bank of America, J.P. Morgan/Chase, Citibank and Wells Fargo as banks with checking accounts supported on the MaxMyInterest platform. Max also links to savings accounts at leading online banks including GE Capital Bank, Barclays, Ally Bank, American Express and Capital One 360. Today, Max members are earning a weighted average 0.88% on their cash held in these FDIC-insured accounts, considerably more than the Bankrate.com national savings average of 0.11% or most money market funds that yield only 0.01%.
What Is Max?
Max, an online service that helps individual investors automatically maximize the interest they earn on their bank deposits, launched in April at MaxMyInterest.com. Max is not a bank, is not affiliated with any banks, and does not provide investment advice.
The service uses patent-pending technology to allocate investors’ cash among their own FDIC-insured bank accounts to take advantage of the higher interest rates offered by online banks, which have lower operating costs than traditional “brick-and-mortar” banks. Members can currently expect to earn 0.60% to 0.80% more each year in interest than they otherwise would from typical “brick-and-mortar” bank accounts or money market funds, all within an FDIC-insured environment.
“If you’re not using Max to optimize the interest you earn on the cash portion of your portfolio, you’re most likely leaving money on the table,” Zimmerman adds.
About Six Trees Capital LLC
Six Trees Capital LLC develops technology that makes the financial system better. The founder is Gary E. Zimmerman, a former mergers and acquisitions investment banker and advisor to sovereign wealth funds. Six Trees’ advisory board includes a Harvard Business School professor, the former head of data privacy and security at IBM, and the chief technology officer of one of the top computer security consulting firms. Six Trees is based in New York City.