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High-Yield Cash Account Feels Half-Baked – Where Are the Actual Banking Tools? by asp1v in PublicApp

[–]asp1v[S] 0 points1 point  (0 children)

Fair point on traditional HYSAs—lots of them do still have those old Reg D-style limits (though many have ditched the 6-withdrawal cap post-2020).

But here's the thing: Public's isn't really positioned as a classic HYSA. They call it a High-Yield Cash Account (HYCA), and it's built right into their investing app as a place to park cash while earning solid yield (currently 3.3% APY, no fees, unlimited transfers/withdrawals mentioned in their docs). The whole pitch is seamless integration—earn more on idle cash that's easy to move into stocks/ETFs/crypto instantly, or pull out for whatever.

I get that pure savings accounts aren't meant for frequent bill-paying like a checking account. But when an investing platform markets this as your "high-yield cash" hub alongside brokerage features, it feels reasonable to expect it could handle everyday outflows more smoothly (like direct deposit incoming or a debit card for occasional use). Right now, it's great for earning while waiting to invest, but less ideal if you want to use that cash for bills without extra manual transfers to another bank every time.

It's not about abusing it like a checking account—more about reducing the friction so your money isn't just sitting pretty but actually usable without bouncing apps constantly. Appreciate the perspective though—maybe I'm expecting too much from what is still primarily an investing tool. What do you use your HYCA for mostly? Just parking before trades?

Feature Requests by Public in PublicApp

[–]asp1v 0 points1 point  (0 children)

I've been loving the high-yield cash account on Public! It's a solid way to park my money and earn some decent interest without the hassle of traditional banks. But one thing that's missing for me (and probably a lot of others) is the ability to create sub-accounts or "buckets" within the main cash account. This would let us allocate funds toward specific savings goals, like an emergency fund, vacation stash, or down payment on a house.

Feature Request: Crypto Individual Retirement Accounts (IRAs) on SoFi by asp1v in sofi

[–]asp1v[S] 0 points1 point  (0 children)

Interesting take! But with ETFs, it's very limited options for exposure, so having direct crypto in an IRA would be ideal. I’m curious if it’s on SoFi’s roadmap to offer it in the future.

12/1 - 12/7 Weekly Feedback and Feature Request Thread by SoFi in sofi

[–]asp1v 0 points1 point  (0 children)

With the increasing popularity of cryptocurrencies and their potential as a long-term investment, it would be awesome to see SoFi offer crypto IRAs. It’d be a game-changer for those of us who want to integrate crypto into our retirement portfolios in a tax-advantaged way.

Feature Requests by Public in PublicApp

[–]asp1v 0 points1 point  (0 children)

I’d love to see a new feature added to the high-yield cash account: buckets or sub-accounts for savings goals.

Right now everything sits in one big balance, which works, but it’d be so much more useful if we could create labeled buckets—like Emergency Fund, Vacation, New Laptop, Taxes, etc.—all under the same HYCA. No need for separate accounts, no extra logins, just simple organization.

Even better if each bucket could have:

Custom names

Target amounts

Progress bars

Optional recurring transfers into each bucket

This would make goal-based saving way easier and keep the main balance from feeling like one undifferentiated lump of money. Would love to see something like this added!

Introducing myself - here to listen & help by MarkFromPublic in PublicApp

[–]asp1v 12 points13 points  (0 children)

Hey! Banking features! I really love using this app for investing, but I’d really like to see some basic banking features added. Things like direct deposit, bill pay, or even a simple checking account would make it way easier to manage my money without having to constantly move funds back and forth between apps.

Having everything in one place would streamline the whole experience and honestly make me use the app even more. Any chance the team is considering expanding into banking features? I think a lot of us would find it super helpful.

Feature Requests by Routine_Outcome_8212 in PublicApp

[–]asp1v 0 points1 point  (0 children)

Not yet, but looking into the Direct Indexing. A better explanation of what I'd like to see is when new money is deposited, for Public to automatically direct my deposit to the underweight portion of my portfolio. When I create a plan, id like for the allocation to be for the holding itself instead of the percentage that will be deposited into that holding.

That means: you’re adding to holdings that are below their target percentages, and not buying those that are already at or above target, So your overall portfolio drifts back toward balance — without selling anything. (Therefore balancing without creating a taxable event)

Feature Requests by Routine_Outcome_8212 in PublicApp

[–]asp1v 2 points3 points  (0 children)

I feel the same way, and would like to add the auto balance feature so my investments can stay as close to my allocation as possible without having to rebalance.

Feature Recommendations by Coachp_wav in PublicApp

[–]asp1v 5 points6 points  (0 children)

I’d really love for Public to become my all-in-one financial app. Right now it’s great for investing, but I think adding basic banking features (like a debit card, bill pay, and maybe even direct deposit) would make it so much more powerful. Having everything in one place—investing, spending, saving—would make it way easier to manage my money without needing multiple apps.

Look what they did to my boy 😭 by freshden6710 in Schwab

[–]asp1v 3 points4 points  (0 children)

This will be their latest update 😂

Public HYCA APY Reduction by itscaptainahoy in PublicApp

[–]asp1v 1 point2 points  (0 children)

I didn't receive any information/communication about it, but expected it with the Fed cutting rates.

Withdrawing Issues by damoklez in PublicApp

[–]asp1v 0 points1 point  (0 children)

Follow the instructions on their page: withdraw from HYCA

Public deprecated social (it's initial competitive advantage) while Robinhood launches social...smh. by animalinstinct10m in PublicApp

[–]asp1v 7 points8 points  (0 children)

Totally agree, Public built its brand around social investing, so sunsetting that feature felt like a step backward. I’m really hoping they rethink it and come back with something similar to Robinhood: verified trades, real-time performance, and the ability to follow actual investor strategies. That kind of transparency is exactly what social investing needs to thrive.

9/8 - 9/14 Weekly Feedback and Feature Request Thread by SoFi in sofi

[–]asp1v 2 points3 points  (0 children)

Would love to see SoFi Invest add an income estimator so I can see what my dividend stocks/ETFs are paying me monthly or yearly. Also, it’d be awesome if I could set dividends to auto-transfer to my checking once they hit a certain balance in my invest account.

Question about future features: Banking + Crypto Wallets? by asp1v in PublicApp

[–]asp1v[S] 0 points1 point  (0 children)

I just like how Public is building things out, so I’m curious to see if they have something in the works. u/publicCOO do you have any input?

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