All answers- 'Online saving account' (what/why/how)

Online saving account - being popular coz of Rising interest rates!

High interest rates have increased rate advantage over traditional brick-and-mortar acc.

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Increasing interest rates at lightning speed has drastically dropped the popularity of older banks.

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0.06% to 0.24% in 2022 (The nationwide savings account average yield) says FDIC

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DepositAccounts.com traced the growing average online savings account yield in 2022 - 0.46% to 3.02%

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Advantage- online bank offers checking and savings account together

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Free ATM usage & checking acc with many other benefits of online acc.

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Some have limited transaction, other with transfer free charge

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