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That's because high yield bank accounts are a phenomenon of the last 6 months and retail by and large hasn't got the message yet. 0.01 is not likely to last for

• mint2 3y ago
  Walked by a chase branch, they had some advertisement for a 4% cd. So Apparently the big banks are starting to feel the account drain. Also brokered cds from the likes of Wells Fargo and similar can be 5%. Big banks definitely are starting to feel it
  • kevinventullo 3y ago
    CD’s are not the same thing as demand deposit accounts. They’re less liquid than treasuries.
    • bombcar 3y ago
      My credit onion is offering 3.1% on the savings act which is lower but isn't insane.
      • Invictus0 3y ago
        That's the problem, you need to open an account with a credit shallot instead.
• carlosjobim 3y ago
  High yield bank accounts was also something that suddenly appeared before the 2008 financial melt down. Now that they are appearing again I can be completely confident that we will see a huge economic depression. All man made of course - this could go away if it wasn't for the evil side of human nature.