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Best US Dollar Savings Accounts (HYSA) 2026 2026

US dollar savings accounts offer competitive yields thanks to the Federal Reserve's interest rate policy. APYData compares the best High Yield Savings Accounts (HYSAs) available in the US, all protected by FDIC up to $250,000 per depositor. Note that these accounts generally require US residency — see the FAQ for alternatives for non-US residents.

4
Products compared
4.00%
Best APY available
3.86%
Average APY
# Entity Product APY Score Risk Liquidity View
1
SoFi
SoFi — Savings Account (US) 4.00% 8.1 Low Instant
2
Marcus by Goldman Sachs
Marcus — High Yield Online Savings (US) 3.90% 8.1 Low Instant
3
Ally Bank
Ally Bank — High Yield Savings (US) 3.80% 8.1 Low Instant
4
Discover Bank
Discover — Online Savings Account (US) 3.75% 8.1 Low Instant
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Complete guide: dollar savings accounts in 2026

The dollar is the world's reserve currency, and its interest rates are the most closely watched on the planet. In 2026, the best USD savings accounts offer between 3.75% and 5.37% — significantly more than their euro equivalents — but with important nuances regarding who can access them and what risks the exchange rate entails.

For U.S. residents: HYSAs

American online banks (Ally, Marcus by Goldman Sachs, SoFi, Discover) offer accounts with 3.75-4.00% APY, covered by the FDIC up to $250,000 per account holder. They are the safest product in dollars. The limitation: they generally require US residency and a US Social Security number.

For European investors: access to USD without US residency

Freedom24 (regulated in the EU, CySEC license) offers 5.37% on USD cash — one of the highest rates available from Europe without US residency. The guarantee fund is the Cypriot ICF (€20,000), which is different from the FDIC, meaning a different risk profile than that of a US bank.

The factor that many forget: exchange rate risk

If you are a resident of the eurozone and have savings in USD, the EUR/USD movement directly affects your real return in euros. A 4% return in USD can become 1% or 7% in euros depending on the exchange rate. The EUR/USD pair has fluctuated between 0.95 and 1.25 over the last five years. Save in USD if you have income or expenses in dollars, or if you are deliberately seeking currency diversification.

USD vs. EUR: the real comparison

Dollar rates remain higher than European rates because the Fed kept rates higher for longer than the ECB. The difference is real but is gradually narrowing. Before betting on USD solely for nominal returns, make sure you are comfortable with the currency exposure this entails.

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Frequently asked questions
What is a High Yield Savings Account (HYSA)?
A High Yield Savings Account is an American bank savings account offering an APY significantly above the industry average (0.45%). Online banks like Ally, Marcus and SoFi offer 3.75–4.00%+ by passing on lower operating costs to customers.
Are HYSA deposits insured?
Yes. Savings accounts at FDIC-member banks are insured up to $250,000 per depositor per institution. The FDIC (Federal Deposit Insurance Corporation) is the US equivalent of the European DGS or UK FSCS. SoFi uses multiple partner banks, providing coverage up to $2,000,000.
Can I open a HYSA from outside the US?
Most HYSAs require US residency, a Social Security Number (SSN) and a US address. However, US residents of any nationality can access them. For non-US residents seeking USD exposure, alternatives include Freedom24 Smart Cash USD (~5.37%) or US Treasury Bills (~4.17%), both accessible from Europe.