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A high interest rate is a serious upside. Its not uncommon for people to have a primary bank for day to day banking and a secondary bank for savings. The idea i
by bognition 11y ago
A high interest rate is a serious upside. Its not uncommon for people to have a primary bank for day to day banking and a secondary bank for savings. The idea is to squirrel away money you don't need into an account you aren't looking at everyday.
If its anything like other online banks then wiring money in and out is incredibly easy.
- spyspy 11y agoI can squirrel away money at my current bank. It doesn't require opening a whole new account and I have the money when I need to, guaranteed - no transfer wait. Anything above a small safety savings should be in a money market account anyway. 1% interest is still losing out to 2% inflation.
- bognition 11y agosure, but for many people having a savings account that is out of sight out of mind helps prevent dipping into it when you don't need to