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Boeing CEO admits 737 ramp taking longer than hoped

Filed Under: SUCCESS, The Street

Two years ago, Boeing was coming out of a strike, its commercial factories were producing zero airplanes, and the company had to restart from a standstill.

Now it is building 38 jets a month and reaching for 47. However, the production ramp is not going as expected, according to CEO Kelly Ortberg during Boeing’s (BA) third-quarter earnings call on Oct. 27. 

Boeing’s 737 ramp hits speed bump

Boeing’s final assembly line, where wings and fuselages come together into a finished 737, is running well. 

Also Read: New Boeing MAX 10 with special safety upgrade approved to fly travelers

Ortberg said rework has dropped by 40% since the start of last year, suggesting improved operational efficiency. 

Ortberg also said at Morgan Stanley’s Laguna Conference on Sept. 16 that Boeing sustained its key metrics as it raised production. 

However, the trouble starts before the jets reach the final assembly.

More Airlines:

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Southwest Airlines kills routes to multiple markets

Boeing builds every wing for its 737 in Renton, but production is not running as expected. It is the primary reason why the airline manufacturer has not been able to scale up to 47 jets a month. 

To jump from 42 jets a month to 47, Boeing introduced fixes intended to speed up wing production, but they have not worked. 

Ortberg explained: 

“Some of those flow enablers just flat out did not yield the flow savings. Some did, some didn’t.”

So Boeing is adding capacity and trying new fixes. Ortberg emphasized that the wings are the problem rather than the engines. 

Notably, things look different on the 787, where engine issues are affecting deliveries. 

What stands between Boeing and Rate 52

Boeing’s financial plan now targets 52 jets a month in the back half of 2027. Before Boeing can achieve this production target, it has to ensure:

Wing production in Renton must hold steady at the current pace.

The new north line in Everett must be certified and producing.

Fuselages from Wichita must be stable at higher rates.

The new north line in Everett is a key piece of the production puzzle. The line is brand new, so Boeing must first prove it can build jets safely and to standard. 

The company also plans to build four airplanes there to certify the line. Ortberg said that effort is going well, and the first 737 MAX 10 rolled out of Everett the day before the call.

Related: New Boeing MAX 10 with special safety upgrade approved to fly travelers

Ortberg said at the Sept. 16 Laguna Conference that Everett has an edge on the MAX 10. The jet is longer, and Boeing can’t line up MAX 10s nose to tail in Renton, but it can do so in Everett, which gives the company more flexibility with its product mix. 

Boeing is building fuselages slower than final assembly on purpose, to burn down inventory. Ortberg also said new safety and quality work there has slowed output a bit.

“As I’ve said many times before, it’s more important that we do this ramp right than what particular month we achieve a rate break,” Ortberg said.

CFO Jay Malave added that investors should expect longer gaps between future rate increases. 

How the delay shows up in the numbers

Boeing’s third-quarter revenue was $24.2 billion, up 4%, while it reported an operating margin of 1.5%. It reported a per-share loss of $0.34, even as free cash flow was positive at $464 million. 

The commercial airplane unit delivered 161 airplanes in the quarter, including 124 737s and 22 787s. 

The segment reported a negative margin of 6.5%, a significant improvement year over year, compared with a 777X charge that impacted profitability last year. 

Malave said 737 deliveries will come in shy of the 500 target this year.

The FAA certified the 737 MAX 7 in July and the MAX 10 last week. Boeing has already built some of those jets and expects about 30 of them to be delivered next year. 

It ended Q3 with a record total backlog of $745 billion.

The cash flow plan is delayed

At Morgan Stanley’s Laguna Conference, analyst Kristine Liwag told Malave that Wall Street expected Boeing to report a free cash flow of $6.2 billion in 2027. 

However, Boeing expects to report a free cash flow of $3 billion in 2027, $6 billion in 2028 and $10 billion in 2029. 

Malave explained why 2027 stays modest. 

Boeing paid about $700 million to the Department of Justice in a settlement this year, and that payment will not repeat. Malave called it a $700 million benefit to next year’s cash flow.

That means most of the $1 billion step up from 2026 to 2027 comes from a one-time bill going away and not from core operations. 

Moreover, customer deposits will fall by a few billion dollars, and capital spending will rise to about $5 billion, up $1 billion.

The plan also assumes the 777X is certified by the middle of 2027. 

The 787 offers a mixed picture. Production is stable at eight a month, and Boeing still plans to start moving to ten this year. 

Boeing CEO Kelly Ortberg says the company is wrestling with production issuesBloomberg / Getty Images

My take: slow is the right call

Promising a faster production rate is easy, but Boeing needs to deliver on these promises and regain investor confidence. 

I would watch four things: wing output in Renton, the Everett north line, Boeing’s 777X flight test approvals, and 787 engine deliveries. 

The risk is that so many pieces must land on time. A supplier problem has already disrupted the 777 freighter and 767 tanker lines, Malave said. 

Shipments have restarted, but the gap will take a few quarters to clear the factories. Malave said the extra cost will impact Boeing’s results over the next 12 months. 

Still, Ortberg said the range of outcomes is narrowing. If wings stabilize, Rate 52 should be the norm at Boeing.

More Stocks NewsDown 82% from all-time highs, can PayPal stock finally recover in 2027?Analyst revamps SK Hynix stock price target after blockbuster earningsOracle has a spending question its new chip deals can’t answerCelestica sees 2027 sales nearly doubling to $40 billion

#1 Reason Americans Cancel Credit Cards

Filed Under: Clark Howard, SUCCESS

Have you been considering canceling a credit card recently?

Proceed with caution. There are credit score-related reasons to keep your old credit card accounts open. Doing so can help your credit utilization ratio and credit history length. In fact, keeping old credit card accounts open and keeping all cards active are two of money expert Clark Howard’s seven rules for using credit cards.

But there are times that getting rid of a credit card is the RIGHT decision.

As part of its annual cardholder survey, CardRatings asked Americans about the top reasons they would cancel their credit cards.

The top answers are all valid reasons to consider cancellation. Let’s take a closer look at the results and why these reasons may be worth forgoing the credit-related benefits of keeping credit card accounts open.

Top Reasons Americans Are Considering Canceling Credit Cards

Of the American credit cardholders surveyed by CardRatings, these are the top reasons cited for canceling a credit card in 2026:

1. A Fee Increase

The survey’s top answer for considering canceling a credit card is an increase in the card’s annual fee.

This is a really smart answer.

Many people are paying exorbitant annual fees for travel credit cards with perks that they just don’t use often enough to justify. This is why Team Clark recommends that most people stick to cash back credit cards with no annual fee.

If you’ve identified a card that is costing you more in annual fee than it is providing you value in your daily life, there are a couple of things you can consider BEFORE pulling the plug and permanently closing the account:

Seek a card downgrade. Many of the high-fee travel cards have a sibling credit card that offers a small batch of cardholder benefits at a lower annual fee. Some of them even have no-annual-fee cards in the “family” that you can downgrade to without any penalty.

Ask for a product change to a no-annual-fee card. If your high-fee card does not have a cheaper alternative, you may instead be able to request a “product change” to a different credit card from the issuer. If they’ll let you, ask for a no-annual-fee cash back credit card. You’ll lose those fancy travel perks, but this will allow you to keep your line of credit open and the account actively building toward your credit history.

2. An Interest Rate Increase

If you plan to carry a balance on a credit card, it makes sense that an interest rate increase for carrying a balance could be a source of pain that would make consumers want to cancel one.

Team Clark believes rewards credit cards are a great spending tool, but only if you’re paying your balances in full each month. They are a very poor choice for carrying a balance, as the interest APR associated with rewards cards is often more than 20%.

This is why we often point people who need a low APR credit card for carrying a balance to their local credit union.

Many credit unions will offer a credit card with an APR lower than that of a rewards card.

3. Cuts in the Rewards Program

If you signed up for a credit card that promised a certain percentage of cash back or a category-specific points multiplier and then they pulled the rug out from under you with a new program a couple of years later, the feeling of betrayal is real.

We’ve seen several credit cards “change the script” on their rewards programs in recent years. And many times it is not to the consumer’s benefit.

If that new set of benefits no longer fits your spending habits, you may be considering a cancellation.

My advice on whether that’s a “good idea” or not is tied to whether or not there is an annual fee involved.

If you’re paying a fee, it may be time to use that rewards program cut as a reason to ditch the card. If you’re not paying an annual fee, you may instead want to keep the account open and just reduce the frequency at which you use the card.

The full results of the survey are available here:

Final Thought

One final note before canceling any credit cards: Make sure that you claim and spend all of your earned rewards points or miles BEFORE starting the cancellation process.

You often forfeit those earned rewards if you cancel your card with them still unused in your account balance.

Remember: You don’t actually own your points balance. Technically, the card issuer does. This is why we encourage people to use rewards balances as soon as possible.

Have you canceled a credit card recently? What was your rationale? We’d love to hear about your process in the Clark.com community.
The post #1 Reason Americans Cancel Credit Cards appeared first on Clark Howard.

When Social Security Recipients Will Get Their Checks in November

Filed Under: Money.com, SUCCESS

If you’re expecting a Social Security check in November, keep a close eye on the calendar — there are several changes to the usual payment schedule this month.
Roughly 76 million Americans receive benefits from the Social Security Administration every month, including about 9 out of every 10 people age 65 and up. Funds aren’t just for older folks, though. Payments go out to retirees, survivors of deceased workers, those with little to no resources, disabled workers, the blind, dependents and more.
The average Social Security payments for those different groups of people vary, but data from September shows the typical retirement benefit was about $2,035.

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When will I get my November Social Security payment?
Your Social Security payment date is determined by your birthday.
If you were born on the first through the 10th of the month, you can typically expect to get your Social Security check on the second Wednesday of every month. But this November, that falls on Veterans Day, which is a federal holiday; as a result, Social Security payments will go out a day earlier, on Nov. 10.
If you were born on the 11th through the 20th of the month, you can expect to get your Social Security check on the third Wednesday of every month — in this case, Nov. 18.
If you were born on the 21st through the 31st, you can expect to get your Social Security check on the fourth Wednesday of every month — in this case, Nov. 25.
Where is my November SSI payment?
Supplemental Security Income, or SSI, payments are usually distributed on the first of each month. But because Nov. 1 is a Sunday in 2026, the payment date has been moved up to Friday (Oct. 30).
This means SSI recipients are technically getting paid twice in the month of October. The next SSI check is scheduled to arrive Dec. 1.
Folks who get both SSI and Social Security, as well as those who initially claimed Social Security before May 1997, will receive benefits on Nov. 3 as scheduled.
Where is my November Social Security payment?
Check the payment schedule above.
If you think your money is missing, you can reach out to the Social Security Administration. The SSA has both local offices and a toll-free national number. The national phone number is 1-800-772-1213. Representatives are available weekdays from 8 a.m. to 7 p.m. local time. Pro tip: The agency says wait times are shortest in the morning, late in the week and late in the month.
In any case, the SSA asks that you wait three mailing days before contacting it about a missing Social Security payment.

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What is the SSA payment schedule for 2027?
You can find the SSA’s 2027 payment calendar on its website. Although it largely follows the schedule laid out above, some months are different.
To learn more about your payment status or to get additional help with Medicare, retirement benefits, disability, SSI and more, make a “my Social Security” account for free at SSA.gov.
What is the Social Security COLA for 2027?
The federal government announced the 2027 cost-of-living adjustment, or COLA, on Oct. 14. Payments will rise by 3.6% due to inflation in the third quarter, which spans July, August and September. This is an increase from the 2026 COLA of 2.8%; it’s also tied for the fifth-largest in the past 35 years.
The typical Social Security retirement check will increase by $75 to $2,170, according to projections.
The first Social Security checks to actually include the COLA will go out Dec. 31, but the majority of beneficiaries won’t see the raise until January.
How do I calculate my Social Security payment?
Benefits are generally calculated according to your average indexed monthly earnings, which include up to 35 years of your highest-earning years. The SSA then applies a formula to determine your primary insurance amount.
The amount of money retirees actually receive depends partially on their age. Although you can start getting Social Security retirement payments at 62 years old, the longer you wait to claim Social Security, the higher your payments will be (until age 70, when the increases stop).
For many Americans, this money is crucial — Social Security accounts for about 30% of the income received by folks over age 65. As people live longer and legislators wrestle over the future of Social Security, the cost of retirement is surging: Federal data shows that, in 2022, retired households spent an average of $54,975, including $11,186 on shelter, $8,065 on transportation and $7,505 on healthcare.

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Down 82% from all-time highs, can PayPal stock finally recover in 2027?

Filed Under: SUCCESS, The Street

Valued at a market cap of $47 billion, PayPal has grossly underperformed the broader markets over the last five years. Today, the fintech giant trades 82% below all-time highs, while the S&P 500 index is close to record levels. 

The ongoing drawdown has meant that PYPL stock trades at 10x forward earnings, below the 65x multiple in early 2021, given data from TIKR.

On Oct. 27, CEO Enrique Lores and Chief Financial and Operating Officer Jamie Miller gave investors their best evidence yet that a turnaround is taking shape. 

The question is whether that evidence is enough to lift the stock in 2027.

I have my doubts about the timing. Let me explain why.

Why PayPal stock lost its shine

PayPal built its name on online checkout. Shoppers trusted it with their payment details, which turned the PayPal button into a habit that powered the whole business.

Also Read: PayPal just lost its $53 billion safety net

Lores said on the company’s Q3 earnings call that branded checkout volume has grown just 1% to 2% for four quarters in a row.  Miller added that the removal of the EU de minimis tax exemption created about 70 basis points of headwind. 

When a flagship product stalls, investors start to doubt everything built around it. 

So how does PayPal restart growth? Lores’s plan is to stop leaning on checkout alone. He said the company now runs as three businesses with clearer accountability. 

He also said financial services already make up more than 20% of transaction margin dollars in 2026, and it’s growing at double-digit rates.

Q3 shows early progress

PayPal managed to beat its own estimates in Q3 of 2026. Miller said transaction margin dollars came in above expectations, while operating expenses landed below forecast, helping drive earnings growth. 

Here are the numbers, according to PayPal’s earnings call:

Transaction margin dollars rose about 2%, or 3% excluding interest on customer balances.

Non-GAAP earnings per share (EPS) grew 8% to $1.45, above guidance.

Adjusted free cash flow came in at $2 billion.

PayPal bought back $1.5 billion of stock, bringing the trailing 12 months total to $6 billion.

Management then raised its full-year outlook.

It now expects transaction margin dollars of about $15.7 billion and non-GAAP EPS of about $5.60. Adjusted free cash flow is projected to reach $6.5 billion. 

Venmo and Pay Later carry the load

Checkout still drives most of PayPal’s business, but it is not where the growth is.

Venmo is leading the way, with volume growing at a double-digit pace for eight straight quarters, according to Miller.

The Venmo debit card reached 6.7 million monthly active accounts, up more than 55%.

Pay with Venmo grew 43%, and Buy Now, Pay Later grew 25%. 

Braintree, PayPal’s payment processing arm, saw volume rise 10%.

Lores said only 23% of Venmo customers use any of its financial services today. He also said PayPal sees a four- to five-times opportunity to raise average revenue per account, or ARPA, when it benchmarks against peers.

Customers who use financial services generate two to five times higher ARPA than those who do not, he added, which could be a future growth driver. 

Lores also said PayPal is working with Meta and other artificial intelligence (AI) companies to bring PayPal into agentic commerce, where AI agents shop for consumers.

Cost cuts fund the plan

Lores said PayPal has cut headcount by more than 2,000 and removed three layers of management across most areas.

The company is on track for at least $1.5 billion in gross run rate savings over two to three years.

More than $700 million of that should be in place by the end of Q4, while non-transaction operating expenses grew only 1% in Q3.

More Layoffs:

Disney cuts 300 jobs and major overhaul puts hundreds more at risk

Microsoft cuts hundreds more jobs as restructuring deepens

Oracle layoffs top 2,500 workers as AI spending surges

Miller was careful, though. She said investors should not simply annualize that expense performance, because PayPal plans to reinvest in growth.

On how the company can grow without a checkout revival, Lores said:

“While we expect branded checkout TPV to improve, this algorithm does not require it to return fully to historical growth rates.”

Basically, PayPal is betting that Venmo, processing, and financial services can do the heavy lifting. 

What 2027 really looks like

Here is where expectations need a reset. Management sees transaction margin dollars growing at a mid-single-digit rate over time. 

For next year, Lores said PayPal is targeting non-GAAP EPS growth similar to 2026. He also said the company plans to invest more in both transaction margin dollars and operating expenses, while formal 2027 guidance comes in February.

Related: PayPal stock jumps as two unlikely buyers circle with billions

Miller said investments in branded checkout are underwritten to a two- to three-year horizon. For the largest merchants, it is closer to three years.

An analyst also asked about earlier talk of strategic alternatives. Lores said the board will look at any option objectively, but right now the best alternative is to execute the plan.

PayPal is wrestling with slowing growth in 2026Oscar Wong / Getty Images

My take on PayPal stock

After years of watching turnarounds, I see a familiar pattern. Cost cuts come first; growth isn’t guaranteed to follow.

PayPal is somewhere in the middle of its turnaround, and share buybacks, improving cash flow, and the raised guidance are positives. 

Still, branded checkout is expected to grow by 1% to 2% through Q4. And 2027 earnings growth is meant to match this year, so management may struggle to deliver the kind of growth many investors want to see.

However, Wall Street estimates compiled by TIKR forecast PayPal to expand adjusted earnings per share from $5.46 in 2026 to $5.81 in 2027 and $9.11 in 2030. 

If PYPL stock is priced at 10 times earnings, it could surge 65% within the next three years. 

So can PayPal stock recover in 2027? 

Next year looks more like a test of whether the turnaround is working than the year the stock bounces back.

I want to see three things before I place my bets on the fintech giant: better branded checkout in Europe, rising ARPA, and clear guidance in February.

More Stocks NewsAnalyst revamps SK Hynix stock price target after blockbuster earningsOracle has a spending question its new chip deals can’t answerCelestica sees 2027 sales nearly doubling to $40 billionWhat Jim Cramer is watching as Anthropic heads to Nasdaq

REI has a $90 fleece shacket that comes in two colors for 44% off

Filed Under: SUCCESS, The Street

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.

Why we love this deal

As the temperature drops, getting dressed can become a hassle. A heavy winter coat might be a little extra for a quick errand or walking the dog, while just a plain shirt might not keep you warm enough. Something that works well for those in-between days can easily become a closet staple that you reach for at every occasion, offering the warmth of a light jacket with the feel of a casual shirt.

The Free Country Fleece Shacket is an ideal in-between option that can be thrown on top of a long-sleeve shirt or underneath a puffer for extra cold days. The design looks nice enough for an evening out while the soft sherpa fleece is cozy to wear daily. At 44% off, it’s also a great deal. Originally $90, this cold-weather staple is just $50.

Free Country Fleece Shacket, $50 (was $90) at REI

Courtesy of REI

Shop at REI

Why do shoppers love it?

This shacket is designed to look like a button-up shirt with the coverage of a jacket, offering an easy option for casual wear during colder months. The relaxed silhouette works well with a variety of outfits, and the oversized fit and drop shoulders give it a laid-back shape that works well for layering. The double-faced, 100% polyester sherpa fleece design is super soft and can be tossed in the washing machine when needed, making it a convenient option for frequent use. 

Related: Patagonia’s $349 soft-shell jacket is on sale for $157 at REI

The casual design makes it nice for outdoor use during camping, traveling, or relaxing in the backyard during the weekend. The two button pockets provide space to keep smaller essentials with you, like a credit card or your keys, and the two no-seam hand pockets keep your hands warm while relaxing and offer a place to stash your phone. It’s available in two colors, including Cream and Driftwood. Because of the oversized design, shoppers have commented that it runs a little big. It’s available in sizes S through XXL.

Details to know

Sizes: Choose from S through XXL. The oversized design is meant to run large, so size down for a smaller fit. 

Colors: Choose from Cream or Driftwood colors. 

Easy to care for: The supersoft material is machine washable.

One reviewer wrote, “This is very well made and incredibly soft. I can’t wait to wear it in the fall.”

Another shopper wrote, “I like it a lot. It will be great for those cooler days and nights.”

Shop more deals

Free Country Chill Out Fleece Shacket, $60 (was $90) at REI

Mountain Hardwear Fleece Half-Zip Pullover, $76 (was $130) at REI 

Mountain Hardwear Microchill Pullover, $60 (was $85) at REI

Whether you’re looking for something to grab when you need to make a quick errand run, or you want something to keep you warm during a weekend camping trip, the Free Country Fleece Shacket is a great choice. The machine-washable design makes it convenient to keep clean no matter where you wear it, and at 44% off, it’s a solid price. Shoppers can get this shacket for just $50 at REI.

Analyst revamps SK Hynix stock price target after blockbuster earnings

Filed Under: SUCCESS, The Street

Shares of South Korean chipmaker SK Hynix (SKHY) jumped after the company reported record third-quarter earnings that beat Wall Street expectations.

The stock closed 10.89% higher in South Korea, while its U.S.-listed ADRs rose more than 12% on Wednesday, Oct. 28.

SK Hynix reported quarterly revenue of 104.62 trillion won ($78.86 billion), beating analysts’ estimates of 98.34 trillion won, according to LSEG data pulled by CNBC.

Operating profit reached 83.33 trillion won, above expectations of 76.72 trillion won.

Revenue surged 327.9% from a year earlier, while operating profit jumped 632.1%. Both figures reached record highs, with quarterly sales exceeding 100 trillion won for the first time.

The results were driven by rising memory chip prices and strong demand for high-bandwidth memory (HBM), a key component used in artificial intelligence processors.

Year-to-date, SK Hynix’s South Korea-traded stock is up 128%. Its American Depositary Receipts (ADRs) began trading on the Nasdaq Global Select Market on July 10.

But over the past month, its ADRs have fallen about 10% amid a broader pullback in semiconductor stocks.

SK Hynix sees AI memory demand outpacing supply through 2030

SK Hynix expects demand for memory chips to remain stronger than supply through 2030 as technology companies continue investing in AI infrastructure.

The company said its latest HBM4 memory chips, which began mass production and shipments in the third quarter, are expected to surpass the previous-generation HBM3E in both revenue and shipments in the fourth quarter.

HBM4 is the sixth generation of high-bandwidth memory, designed to handle the large amounts of data processed by advanced AI chips.

Average selling prices for DRAM increased by a high-20s percentage from the previous quarter, helped by higher conventional memory prices and a growing share of HBM4 products.

Also read: Meta stock falls despite Wall Street analysts raising price targets

Shipments of server DDR5 memory chips also rose more than 40% sequentially.

SK Hynix said it has secured long-term agreements with 14 major customers covering more than 50% of its production capacity for 2027 and 2028.

The company plans to significantly increase investment next year to expand production.

Management described a “virtuous cycle… in which AI-driven productivity gains… lead to greater AI adoption, which in turn drives increased investment in infrastructure.”

“As the drivers of AI investment move beyond the early stage, when a small number of companies accounted for most of it, and broaden to include general enterprises and nation-level initiatives, the global AI data center infrastructure market will continue to grow steadily,” the company said in a statement.

SK Hynix also announced plans to return about 100 trillion won to shareholders, including at least 30 trillion won in cash dividends and 60 trillion won in share buybacks and cancellations.

The company approved a third-quarter dividend of 14 trillion won, partly funded by gains from its investment in Japanese chipmaker Kioxia.

“We intend to return the gains realized from our investment in Kioxia this year to our shareholders through a special dividend,” CEO Kwak Noh-Jung said during the earnings call.

Year-to-date, SK Hynix’s South Korea-traded stock is up 128%.NurPhoto / Getty Images

Wall Street raises SK Hynix price targets after earnings

Rosenblatt raised its price target on SK Hynix to $400 from $320 while maintaining a Buy rating, according to The Fly.

The firm pointed to stronger DRAM pricing, noting that average selling prices increased 20% from the previous quarter.

Also read: Intel stock surges on JPMorgan upgrade after 14% weekly plunge

RBC Capital analyst Srini Pajjuri maintained an Outperform rating and a $200 price target.

RBC said annual price negotiations for 2027 have been completed and estimated that HBM prices increased 80% to 100%, which could continue supporting the company’s average selling prices.

Susquehanna analyst Mehdi Hosseini reiterated his Neutral rating, saying he preferred Micron Technology (MU) and Samsung Electronics because of their more diversified businesses.

Still, he acknowledged that SK Hynix shares appeared undervalued and said he favored the company’s U.S.-traded shares over its South Korean listing.

“I would prefer the ADR in the U.S.,” Hosseini said in a CNBC interview. He questioned whether there were enough additional buyers in the Korean market.

Related: Cathie Wood sells $16 million of surging tech stock

Best Banks for Savings Accounts for November 2026

Filed Under: Money.com, SUCCESS

Key Takeaways

The best banks for savings accounts offer higher rates than their competitors, with numerous financial institutions offering annual percentage yields (APYs) near or above 4.4%. They also have low minimum balance requirements and charge few to no fees.
Many banks and credit unions have been increasing the interest rates they offer in recent weeks following the Federal Reserve’s September rate hike — its first since July 2023.
Money’s methodology for selecting the best savings account is based on several key points, including account fees, access to funds, APY, customer service, financial standing, fraud protection, minimum deposit requirements, privacy, security, transparency and more.

The best savings accounts offer high annual percentage yields (APYs), have low minimum balance requirements and charge low (or no) fees while also providing customers with reliable and widely accessible customer service.
The products on our list offer some of the highest APYs available. Organized alphabetically, here are Money’s top picks for the best savings accounts for November 2026:

Ally: Best Digital Savings Tools
Barclays: Best Savings Account to Pair With a Certificate of Deposit (CD)
Bread: Best No-Frills Savings Account
Capital One: Best Savings Account for Kids and Teens
CIT Bank: Best Savings Account for $5,000 and Up
Marcus by Goldman Sachs: Best Online Savings Account Option
Raisin: Best Savings Account Marketplace
SoFi: Best Savings and Checking Account Combination
Synchrony Bank: Best Savings Account with an ATM Card

*Rates and APYs are subject to change. All information provided here is accurate as of Oct. 20, 2026.

Pros

Savings “buckets” make it easy to visualize and keep track of savings goals
“Surprise Savings” tool to help you identify potential savings opportunities
24/7 customer support, no minimum deposit required, and mobile check deposit available
No fees for maintenance, overdrafts, incoming wires or cashier’s checks
No. 2 in customer satisfaction among HYSA providers

Cons

No ATM access for online savings account (you can still use ATMs without a fee)
No brick and mortar locations
Withdrawals are limited to 10 per statement cycle
Very low Trustpilot ratings
CFPB complaints are trending upward

HIGHLIGHTS

APY
3.1%

Minimum opening deposit
None

Other fees
Expedited delivery $15 / Outgoing domestic wires $20

Ally Bank offers innovative savings tools, such as “buckets” and “boosters,” which are integrated into its mobile app.
Ally Bank’s online savings account not only offers a competitive APY, but also stands out with its smart saving tools. Saving buckets allow savers to divide their savings into up to 10 different categories. Additionally, Ally Bank offers automated savings tools called boosters that feature:

Recurring transfers: Schedule recurring transfers from your checking account.

Round ups: Ally automatically rounds up eligible transactions to the nearest dollar, then automatically transfers these amounts to your savings in increments of $5 or more.

Surprise savings: Ally analyzes your checking account monthly for funds it considers “safe to save” and automatically transfers them to your savings account.

You can opt in or out of these automated boosters at any time. There are also visualization features on the Ally app that help you better track progress and meet savings goals.

Pros

No monthly fees on savings or CD accounts
Competitive APYs on CDs with a variety of term lengths
No minimum deposit requirement for savings or CDs
Above-average customer satisfaction among HYSA providers
Up to $200 cash bonus

Cons

No ATM access

Low BBB reviews
Must have a balance of $250k to get highest rates

HIGHLIGHTS

APY
3.5% to 3.65%

Minimum opening deposit
None

Other fees
No monthly maintenance fees / No limit to the number of withdrawals and transfers

Barclays offers competitive rates for its savings account and certificates of deposit (CDs).
Barclays Online Savings offers a strong APY, allows for check deposits (which not all accounts do) and boasts an even higher APY (up to 4.75%) on its CDs. Its CDs come with terms of either 6, 9, 12, 18, 24, 36, 48 or 60 months. If you’re looking to incorporate a CD alongside your savings account, Barclays is a solid choice.

Pros

No monthly maintenance fee
Mobile check deposit
Wide variety of CD terms available
Unlimited transfers to external accounts
Highly rated mobile apps

Cons

Required $100 opening deposit may be too high for some customers
No ATM card available
$1,500 minimum required for CDs

HIGHLIGHTS

APY
4.05%

Minimum opening deposit
$100

Other fees
$25 per outgoing wire transfer / $15 per official check request / $5 per paper statement request

Bread Savings has one of the highest APYs on our list. The online bank charges no fees, has a mobile check deposit option and allows unlimited transfers.
Bread Financial offers a high-yield savings account with a strong APY, which requires a minimum opening deposit of $100. You can fund your account through electronic transfers or mobile check deposits in the Bread Financial app.
After funding, Bread Savings has no ongoing minimum balance requirement or monthly fees. The bank also doesn’t charge overdraft fees, and there are no restrictions on the number of transfers to external bank accounts. The bank also has a wide variety of CD terms (with up to 4.85% APYs) you can pair with your account, though you’ll need at least $1,500 to open one.

Pros

No minimum required deposit, no account maintenance fees, no excess withdrawal fees

Available for ages 6 and up and offers automatic savings rules to help your child save more
Offers automatic savings rules to help your child save more
Can create separate multiple accounts for separate savings goals
Above-average customer satisfaction among HYSA providers

Cons

No ATM card
APY is lower than other companies we evaluated

HIGHLIGHTS

APY
2.5%

Minimum opening deposit
None

Other fees
No monthly or maintenance fees

Capital One offers a custodial savings account with no monthly fees, no minimum deposit and a competitive APY. Parents and guardians can link this account to their own to help manage finances.
While best known for its credit cards, Capital One offers multiple savings products, including its Kids Savings Account (available to children ages 6 and up). Parents and guardians with children of any age can open this free account, which also has no minimum balance requirement, to help them learn personal finance basics without the risk of extra charges.
The savings account can be paired with a fee-free Teen Checking Account, which comes with a debit card that guardians can lock or unlock at any time. Parents and guardians can set up automated deposits from this account as well as transfers from their own accounts, and oversee all of their Capital One accounts via the mobile app.
While the APY on the Kids Savings Account is lower than what’s offered by other financial institutions on our list, it remains a helpful tool for youth to learn how to manage money while under adult supervision. And if you need your own savings account, the bank’s 360 Performance Savings is a popular choice and currently offers a 3.1% APY.

Pros

High APY for accounts funded with $5,000 or more
No balance cap on highest available APY, and no limit on transfers to external bank accounts
No opening, maintenance or overdraft fees
Mobile check deposit via CIT Bank app
Highly rated mobile apps

Cons

No ATM card for withdrawals
Must maintain balance of $5,000 or more to earn highest APY
Highest APY only available for six months
Low Trustpilot ratings

HIGHLIGHTS

APY
4.25% (Platinum Savings)

Minimum opening deposit
$5,000 for highest APY, $100 otherwise

Other fees
$10 outgoing wire transfer fee for accounts with less than $25,000

CIT Bank offers 4.25% APY on balances of $5,000 or more.
The bank charges no monthly or overdraft fees and has no limits on how many transfers you can make out of your Platinum Savings account. A $100 deposit is required to open the account. Note that while there is no ongoing minimum balance requirement, only balances of $5,000 and up earn the highest available APY. Below that threshold, the APY is just 0.75% (including the six-month boost).
CIT Bank also offers the Savings Connect account, which has a slightly lower APY (currently 3.65%). That also requires only $100 to open and there is no minimum to get the highest APY. Like Platinum Savings, this account also features no monthly fees and no overdraft charges.
For a complete list of account details and fees, see CIT’s Personal Account disclosures.
*Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance.

*APYs — annual percentage yields are accurate as of Oct. 20, 2026: 3.65% APY on balances of $0.01 to $4,999.99; 4.25% APY on balances of $5,000.00 or more. Interest rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.
 
*Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of Oct. 20, 2026.

Pros

Same-day transfers of up to $100,000 (inbound and outbound)
No monthly fees, no wire transfer fees and no minimum deposit requirement
24/7 customer service
No. 1 in customer satisfaction for HYSA providers
Highly rated mobile apps

Cons

No ATM access for savings account
No mobile check deposits

HIGHLIGHTS

APY
3.5%

Minimum opening deposit
None

Other fees
None

Marcus by Goldman Sachs is our choice for the best online savings account due to its solid APY, fast transfers and low fees
Marcus by Goldman Sachs offers a solid savings account: no fees, competitive APY and no minimum opening deposit requirement. You can also transfer funds both in and out of the account — up to $100,000 — on the same day. There’s even a “transfer tracker” to help you monitor the status and timing of any transfers.

Pros

Compare savings accounts from over 10 different credit unions and banks
No monthly fees on any accounts offered so long as you satisfy account requirements
You can add additional savings products to your Raisin account to get the most out of your funds
Very high Trustpilot ratings
Up to $1,000 cash bonus

Cons

Must register with Raisin for access to all savings products
Account requirements (e.g., minimum opening deposit) and features vary widely across financial institutions

HIGHLIGHTS

APY
Up to 4.3%

Minimum opening deposit
$1

Other fees
Varies by bank

Raisin partners with over 100 financial institutions to offer a variety of savings products with competitive APYs — including the highest on Money’s list.
Raisin is an online marketplace where you can comparison-shop for high-yield savings accounts and CDs from 100+ member FDIC or NCUA national banks, online-only banks and credit unions, including Liberty Savings Bank, EverBank, Quontic Bank, Sallie Mae and Western Alliance Bank.
You can search for accounts based on specific characteristics (e.g., credit union, minority-led, charitable companies, digital first) as well as APY and the amount you plan to deposit. Furthermore, once you’ve signed up, you can add additional accounts from other partner banks and manage them all at once through your Raisin account. It’s also worth mentioning that Raisin comes highly rated by customers. The site has 4.4 out of 5 stars on Trustpilot, based on more than 13,000 reviews.

Pros

Sign-up bonus of up to $400
Multiple savings tools, including Vaults for individual savings goals
Get paid up to two days early with direct deposit to checking account
Interest-bearing checking account
Above-average customer satisfaction among HYSA providers

Cons

Must set up direct deposit to SoFi checking account to qualify for highest APY and signup bonus
Highest APY only available for six months

HIGHLIGHTS

APY
Up to 4.4% (with qualifying boost of 1.1% for the first six months)

Minimum opening deposit
None

Other fees
None

SoFi offers a strong savings APY and cash back on debit card purchases, plus a sign-up bonus of up to $400. If you meet certain direct deposit requirements, you can earn up to 4.4% APY for the first six months.
SoFi is an ideal choice for people looking to host their savings and checking accounts within the same bank. Its savings account offers a competitive APY and several savings tools, including automated round-ups. (SoFi automatically rounds up your debit card purchases to the nearest dollar and deposits the change into your savings account.)
Furthermore, new SoFi customers can receive up to $400 as a sign-up bonus. To get the full amount, you must receive direct deposits totaling at least $5,000 during the qualifying period, which starts the day you receive your first direct deposit and ends 25 days later. Direct deposits of at least $1,000 but less than $5,000 qualify for a $50 bonus.

Pros

Includes debit card for ATM withdrawals and purchases
No monthly limit on number of ATM transactions
No minimum deposit, minimum balance or monthly fees
Virtual savings goal calculator
Numerous CD options available

Cons

Only $5 in ATM fee reimbursements per statement cycle
$1,000 daily ATM withdrawal limit
$500 daily point-of-sale transaction limit
Limit of six transfers to external accounts per month
Below-average customer satisfaction among HYSA providers
$25 wire transfer fee

HIGHLIGHTS

APY
3.75%

Minimum opening deposit
None

Other fees
Surcharges from out-of-network ATMs (refunded up to $5 per month), $25 outgoing wire transfer fee

Synchrony Bank is one of the few banks that includes an ATM card with its online savings account.
You can use your Synchrony ATM withdrawals for free at in-network ATMs (Plus or Accel) or for a fee at out-of-network ATMs. You may also be able to use your ATM card fee-free at businesses that accept PIN-based ATM cards.
Note that Synchrony only reimburses up to $5 in ATM fees per statement cycle. Additionally, there is a limit of $1,000 in ATM withdrawals per day.

How to choose a savings account
The most important factor when choosing a savings account should be a high APY. This ensures that your savings get a small monthly boost.
However, the best savings accounts also include features such as:

No monthly fees

No minimum balance requirements

No overdraft fees

Easy account management, including online transfers in and out of your account

Mobile banking app with mobile check deposit

No limit on how many withdrawals you can make per cycle

Access to funds via ATM withdrawal with no ATM fees (or unlimited reimbursements)

24/7 customer service
Strong customer ratings

How does APY work?
Annual percentage yield (APY) works by compounding interest. The APY shows the total amount of interest you will earn, including both the principal (the funds you deposit) and the interest earned on those funds.
For example: You deposit $1,000 into a savings account with a 5.02% interest rate and 5.15% APY. The interest rate is the amount you earn on the principal ($1,000). However, the APY reflects compound interest, which includes the principal amount plus the interest earned.
We’ll use daily compounding interest in this scenario, because that’s what most savings accounts offer (rather than monthly compounding interest). With an APY of 5.15%, in 12 months — assuming you don’t withdraw or add any funds — you earn a total of $51.48 in interest. At this point, your savings account balance will be $1,051.48.
It’s important to note that APYs are variable and can rise or fall depending on market conditions. Keep an eye out for changes to ensure you’re getting the best possible return on your funds. For example, with the Federal Reserve recently voting to raise interest rates, many banks have opted to increase their savings account rates. These increases are reflected in the rates listed for each institution above.
Latest news in savings accounts
The Federal Reserve voted to increase the federal funds rate at its September meeting by a quarter-point. When the Fed raises rates, it often results in higher savings and CD rates, too. Be sure to check that your financial institutions are still paying the highest rates available.
Rates on CDs, a popular type of savings vehicle, were already trending upward before the Fed’s most recent meeting. According to CD Valet, 93% of rate changes on the site since September were increases. The number of institutions offering APYs of 4% or higher jumped almost 74%.

Savings Accounts FAQs
Which bank has the best savings account?
The best savings account depends on your financial needs. If you’re looking for an account with digital savings tools, Ally is your best bet. For a kids savings account, look to Capital One. And for an account that pairs well with a certificate of deposit, consider Barclays. All three ranked in Money’s list of the best savings accounts for 2026.
What account fees should you avoid with savings accounts?
Accounts fees you should avoid with savings accounts include monthly maintenance fees and minimum balance fees. Most financial institutions do not charge these fees. If yours does, consider looking for a new account.
How does a savings account work?
A savings account works as follows: You deposit funds and those funds earn interest at a rate determined by the financial institution in question. Interest may be calculated daily, weekly or monthly, although daily is most common. Banks typically credit this interest once per month.
How much interest does a savings account earn?
The interest you earn with a savings account varies by financial institution. Some savings accounts are offering low annual percentage yields, while others are on par with the rates of high-yield savings accounts.
Can I open a savings account for my child?
Yes, opening a savings account for a child is as simple as opening one for an adult. In addition to requirements listed above, the other information you’ll need to provide is your child’s. A savings account not only provides funds for your child, but can also help them learn the basics of personal finance.
Which bank offers 7% interest on savings accounts?
No banks are offering 7% interest rates on savings accounts these days. The current national average rate on a savings account is 0.38%, according to the Federal Deposit Insurance Corporation. Some banks offer high-yield savings accounts with rates that go up to 4.25%

How we chose the best banks for savings accounts
Our methodology for selecting the best savings account is based on several key points, including:

Access to funds: We considered access to funds in analyzing savings accounts to provide detailed information about how (and how often) customers can make withdrawals.

Account fees: We searched for savings accounts with zero monthly fees.

Annual percentage yield (APY): We reviewed accounts for consistently strong APYs.

Customer service: Financial institutions must have a strong reputation for excellent customer service. We analyzed customer feedback across multiple third-party review sites, as well as J.D. Power’s Direct Banking Satisfaction Survey.

Financial standing: Your financial institution should have a good financial rating from a reputable credit rating agency. We analyzed reports from S&P Global Ratings, Moody’s and Fitch Group.

Fraud protection: We looked for financial institutions that offer assistance with fraud identification, including tips for spotting identity theft and financial scams. We also analyzed fraud protection policies for guarantees that customers will not be held liable for unauthorized transactions.

Minimum deposit requirement: We considered accounts with minimum deposit requirements and included them only when they offered benefits to account holders.

Member FDIC or NCUA: We require that all financial institutions on our list are insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA), which guarantees deposits up to $250,000 per depositor, per ownership category, per FDIC-insured institution.

Mobile app: We assessed ease of use and ratings for each financial institution’s mobile app.

Privacy: Financial companies often share your personal information to help you use their products effectively. Details about information sharing should be clearly stated in a financial institution’s privacy policy. However, customers should be given the option to opt out of sharing their personal information with third parties, as required by federal law.

Security: We analyzed banking site and mobile app security measures, such as end-to-end data encryption, multi-factor authentication and biometric login options.

Transparency: Financial institutions should be upfront about fees, interest rates and other terms.