[ghaff]

At least Bank of America is still effectively 0 interest (excuse me 0.01%) on savings accounts. I'm not sure why anyone would bother to maintain a separate account beyond a checking account buffer. My brokerage sweep account is over 4% right now and transfers can be done online and just take a few days.

I assume the only reason for the savings accounts is to convince some people that they can save at their bank without bothering with another account somewhere else. (And, of course, until recently money market sweep accounts paid very little as well.)