Most checking accounts pay you literally 0%. Most savings accounts with big banks as in the standard savings account you have paired with your checking account, pay 0.5% or less on your money with some major banks as low as .01%.

You can take that same money you have in there, and store it in a high yield savings account that is FDIC insured up to $250,000 (some even more through a network of banks)

And most of them cost you nothing. And some of these accounts on the low end pay a full 4% or more on your money. Some get as high as slightly over 5%.

The big banks make literally hundreds of millions of dollars if not billions off of people who leave thousands of dollars in their checking and .01% savings accounts for YEARS.

And some of them even have the nerve to offer you CD’s with multiple month to year terms that pay less than the liquid high yield savings accounts!

What’s even crazier is some banks have the nerve to charge you money for a checking account. Yes, they are charging you money, to make money off of the money you have in there. It is astounding.