You'll get the best of both worlds when you use both, high-yield checking and savings accounts.
If your cash isn't making you money, it's losing value — an unfortunate side effect of persistent inflation. So, it's important to put your money to work if and when possible. High-yield checking and savings accounts offer ways to earn more interest on the money you have sitting at the bank. Then again, you may be wondering which is the better option between the two, so it can benefit you to compare them to find out.
However, there are a couple of caveats to consider: Like traditional savings accounts, high-yield savings accounts typically limit your access to your savings to a set number of withdrawals per month . Exceeding the maximum number of withdrawals could result in extra fees or charges.Some banks that offer high-yield savings accounts don't have a physical location, which may not be ideal for all savers.
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