> Bigger banks are simply betting that people will not go through the trouble of moving their money.
This applies even at smaller banks that don't make savings account their primary product.
Like, my credit union offers 0.1 - 0.9% savings accounts depending on your balance. With a $250,000 balance, you qualify for some Premier savings account with 4.8%.
I said screw it. I created an account somewhere else that gives over 5%. Yeah, it means my money might take a couple days for me to get if it I absolutely need it, but I can't imagine a scenario where that would be a problem that my credit card can't take care of.
This applies even at smaller banks that don't make savings account their primary product.
Like, my credit union offers 0.1 - 0.9% savings accounts depending on your balance. With a $250,000 balance, you qualify for some Premier savings account with 4.8%.
I said screw it. I created an account somewhere else that gives over 5%. Yeah, it means my money might take a couple days for me to get if it I absolutely need it, but I can't imagine a scenario where that would be a problem that my credit card can't take care of.