Digital Banking
Former Paypal CEO intros Evergreen Money high yield checking account
June 26, 2024
Bill Harris, the former CEO of Paypal, recently launched Evergreen Money, a digital wealth advisor which offers Liquid Treasuries, a checking account that offers a 5.31% yield. All deposits into Liquid Treasuries are invested into U.S. Treasury Builds to deliver this high yield rate, according to a press release.
The interest earned for these bills is exempt from state and local taxes, while the Liquid Treasuries account itself offers debit card, ATM access, wire transfers, direct deposits and ACH payments, according to the release.
"Free checking isn't free. It costs truckloads in lost interest. Since the spike in interest rates, you're paying record-high rates on your credit card but getting next to nothing on cash in the bank," Bill Harris, founder of Evergreen Money, said in the release. "Evergreen fixes this exasperating problem, which costs consumers 10 times as much as overdraft fees."
The service costs a fee of 0.03% monthly.
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