1. [FDIC] Put it in a Chase, BofA account. < 1% typically. Abysmal returns.
2. [FDIC] A higher yield checking/saving account(Ally at ~3.1 is a good example): But more hoops[1] to get more than 3.5%(today). Here https://www.wsj.com/buyside/personal-finance/banking/best-hi... the list.
3. [Not FDIC but pretty good**] A higher yield Money market mutual fund. You still need to place a buy order[2]. Something you have to do manually can give you around 3.86% today(See SNAXX)
This last case is more _interesting_ because its easy for agents. But consider what happens when a lot of people use muse to enmasse do this. There can be a run on the banks because[3] its not the same "money" in the balance sheet of the bank. Money leaving checking/savings and entering a MMF is not on the balance sheet of the bank(even though it can be coincidentally the same institution e.g. schwab checkig and schwab brokerage). Agents are a BIG threat to regular banks. I don't even see how it can be prevented, local agents are ubiquitous now.
[1] Exceptions are HY checkings but its hard to chase yield logistically: more hoops to jump like minimum balance or max ceiling, minimum transactions etc.
[2] See this from schwab's site: ``` For uninvested cash you do not plan to spend soon, you can consider investing in a money market fund such as the Schwab Prime Advantage Money Fund (SWVXX), which currently yields 3.71%, (7-day yield as of 2026-10-21), and can be purchased in a single trade with no minimum* and no transaction fee. Visit the Schwab Money Funds page to view all available funds and their current yields. ```
[3] https://www.youtube.com/watch?v=iPkJH6BT7dM
** MM funds are banks lending to each other to park overnight cash and borrow temporarily for actitivities, think of its like a bank's bank. In 2008 when the GFC was happening the fed had to step in and "ensure" this supply because a lot of banks were teetering and if one bank could not access its money or borrow for daily activities, no more cash would come from an atm.