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It should also be a place to grow it.
Get started in as little as three minutes.
Zero Fees
Banks are known for charging fees often hiding them in the fine print.
If youre not careful, these fees can significantly cut into any gains you earn in interest.
Look for an account where youll pay absolutely no monthly fees or maintenance fees on your savings.
This will leave you with a higher account balance on which to earn interest.
Above-Average FDIC Insurance
You put your money in the bank to keep it safe.
Traditionally, youll get up to $250,000 in coverage at each FDIC-insured bank per ownership category.
However, a high yield cash account may offer access to more
coverage through partnerships with program banks.
Your money belongs to you, so you should have unlimited access to it.
If youre like many people, your account balance might ebb and flow.
Make Your Money Work For You
Compound interest is key.
The higher your APY, the more money you might earn each month.
If you think the APY attached to your savings isnt a big deal, this mistake could be costly.
*Current promotional rate.
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