If you get a Brinks prepaid MasterCard (no initial fees, and you can even get a $20 signup bonus) and go through some other gyrations, you can presumably get access to a 5% FDIC-insured savings account.
Has anyone does this?
It sounds too good to be true, so I'm suspicious, but banks have done weird things before (I once transferred a balance to a Citibank card with a -5% fee: my balance decreased by 5% after the transfer).
I want to hear from someone who has actually done this, if possible. I've skimmed the terms, and there are various fees, but they all seem avoidable if you're reasonably clever.
Since you can borrow money for less than 5% (usually collateralized though), this sounds like free money (sort of).
Googling shows some results, but many of them are people asking the same question and/or people who are speculating without experience.