This Account Automatically Moves Your Savings to Get You the Best Rates

Interest rates on savings accounts are all over the place. Online banks (like SoFi) offer rates 10 to 50 times better than brick-and-mortar banks like Chase.

This would be fine -- if rates were fixed. But unless I'm willing to lock up money in a certificate of deposit (CD), I'm stuck with variable rates. Which means constantly googling to make sure I have the best rate…and switching accounts, if necessary.

It's a hassle. The solution: an account that does the research and movement for me. Titan Invest, a brokerage app, moves my savings around to get me the best rates. I'll dive into how it works and the downsides so you can decide if it's right for you.

Titan Smart Cash gets you the best rate automatically

Titan Invest is a popular brokerage app that lets you invest in stocks and earn interest on cash. I use it for its Smart Cash account. Smart Cash moves your money between Cash Reserve and Treasury Money Market Accounts to get you the best rates.

I've yet to see another bank or broker that moves your cash around automatically to get you the best rates. Typically, banks and brokers offer their own interest-bearing accounts, and that's it. This makes Titan a rarity.

Even rarer -- Titan adjusts your deposits to get you the best tax-adjusted returns. That means it factors in taxes when moving your money. Say Account A offers a better APY but Account B gives you the most money (after taxes). Titan will move your money to Account B.

Titan Smart Cash is safe

Titan Smart Cash is safe for a couple of reasons. One, Titan only invests in high-quality money market funds, which are listed on the Titan website. Two, your cash is SIPC-insured up to $250,000. So if something happens to Titan, your money is safe.

That said, the biggest names in the banking world are some of the safest banks in the U.S. They've got long, established histories. But it comes at the cost of worse interest rates, since these banks don't need to compete to earn consumers' business.

Titan is slow-ish

Titan Smart Cash isn't a savings account. You can't send money lightning-quick to your linked checking accounts. It takes days (typically two or three business days) to move money into and out of the account. Don't open the account if you need your money more quickly.

Plus, the app is a bit slow. It's not super noticeable, but some pages take a few seconds to load. I don't mind it much, but if that's a dealbreaker, then steer clear.

Titan Smart Cash charges a 0.25% annual fee

Titan charges a 0.25% management fee for Smart Cash accounts. So, the fee will eat into your earnings. When rates are all over the place (like they are now), this fee isn't as big of a deal. I'd rather pay it and earn high rates. I don't want to keep scouring Google for the best picks.

I'm earning a 5.04% yield right now, including the annual fee. If I deposited more, I'd probably qualify for better money market funds. Titan would find me a better rate. But my current rate is already on par with the best interest rates out there.

But if the best rates become on par with the worst rates, Smart Cash becomes less useful. I'll be taking a second look at Smart Cash once rates come down. If Titan isn't pulling its weight, then I'll move my money into a high-yield savings account.

Bottom line

Titan Smart Cash automatically moves your savings around to get you the best interest rates. It saves you the hassle of moving money between accounts. Right now, rates are all over the place, so the 0.25% management fee is reasonable.

The main perks:

1. Great rates with automatic money management
2. Safe place to put money
3. Tax-optimized

The main downsides:

1. Slow withdrawals
2. 0.25% annual fee

Titan shows you estimated payouts, how it factors in the APY, and what funds are available per rate. So, you can calculate your potential earnings in a transparent manner. If you're interested in saving time and earning the best APY, Titan may be worth checking out.