ETrade has lowered its online savings rate by 25 basis points.
Morgan Stanley, through its ETrade subsidiary, has quietly become online of the largest online banks by offering a better rate on uninvested cash than its major online banking competitors.
Ivy Bank has lowered its online savings rate by 10 basis points.
The bank so far remains very competitive throughout this entire rate cycle.
Citizens Bank has lowered its online savings rate by 20 basis points today.
The rate has been lowered from 4.50% today.
Ally has lowered its savings and online money market rate to 3.30% from 3.40% following the Fed's moving the Fed funds target rate to a 3.75% to 4% target last week.
Citizens Bank's online savings rate is now 3.35%, having been lowered by 15 basis points following the Fed's most recent rate cut.
Forbright has lowered its online savings rate to 4.00% APY from 4.25%.
The bank rate is still very attractive compared with those at the better known online banks and the bank remains on the forefront of responsible climate-sensitive lending.
The move down 20 basis points comes after the Fed annonced that it is holding the Fed Funds rate at 4.25% to 4.50%.
Amex lowered its high yield savings account rate by 10 basis points today.
The rate now stands at 3.50% and matches Capital One and Ally.
It is not a competitive rate any longer.
Ally has lowered both its online savings and its online money market rates to 3.50% APY. The rate had previously stood at 3.60%.
Ally's no penalty 11-month CD was also lowered to 3.40% from 3.55% APY.
For most of the last decade, Ally was a great online bank that offered aggressive rates. It now seems to be constantly lowering its rates and hoping that depositors are not enough paying attention to notice that they are increasingly not rate-competitive.