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Read on for more details on why more consumers arent receivinghigher rates on their accounts at their banks.
The best part is that savers dont even have to change banks to reap the benefits of extra earnings.
Instead, they can open one or more higher-rate accounts at their current bank.
So why are the majority of Americans not taking advantage of this opportunity to earn more money?
Here are some common misperceptions about higher-rate accounts.
In fact, its possible to open multiple higher-rate accounts even across different institutions.
Plus, its easy to link a checking account to a savings account to facilitate quick funds transfers.
Consider this example fromFirst Fed.
After five years, youd have over $1,200.
Investing a little time can pay off.
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