I opened one last fall and have it now. The welcome bonus at the time was $300 I think, which I received in January. They periodically adjust rates to keep pace with all the other “big” HYSA banks, although all of those can be at least temporarily beat by little guys you’ve often never heard of.

The current rate increase to 3.5% just happened on Feb 16th. Think it was 3.4% before that, then 3.3%, etc. They adjust it pretty frequently, sometimes even a few times a month to keep up with whatever competitors are doing.

I also like the fact that it uses and shows up on the same AMEX app as the credit cards, and I’ve long used AMEX as my primary credit cards.

TLDR, no catches, no complaints.

Edit - just checked the handy dandy app, the account was opened on Sep 19th, the $350 welcome bonus (not $300, I was wrong before) hit my account on Jan 13.