@the.finance.engineer: When your breakup with your bank... You would think the big banks like Bank of America, Chase, and Wells Fargo are a good place to keep your cash. Maybe it's the big names or because your family uses them. Unfortunately, there are very few reasons to use them these days. Online Banks provide a much better experience, higher interest rates, and fewer (or no) fees. For example, the large banks pay 0.01% APY for the cash sitting in their savings accounts. This results in pennies worth of interest each month. Meanwhile, many online banks pay over 300 times more! That's an extra $30 per month for doing nothing (assuming $10,000 in the account). #finance #PersonalFinance #money #highyieldsavings

Imran | The Finance Engineer

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Wednesday 28 May 2025 16:00:00 GMT