Correct, and it's location dependent. Typically, there are no fees associated with these accounts. Many have multiple accounts at the same institution, or spr

Correct, and it's location dependent. Typically, there are no fees associated with these accounts. Many have multiple accounts at the same institution, or spread. From my minimal research, it seems you should be able to say, have 25K in each Consumers Credit Union, and Heritage bank, and effectively earn about 4% on $50k (NOTE: I'm not endorsing either of these institutions, do your own research). Though with requirements attached for each, which may or may not be worth the opportunity cost to you. The 1.6-1.7% rate seems to be the going best for no requirements involved.