Did you know that rates for some savings accounts are as high as 6 percent? Some of the banks that offer these great interest rates require a large deposit or monthly minimum balance. Yet others have no minimums and no monthly fees. Most of us are earning much lower interest rates because we have become complacent (and used to the low interest rates).
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Every industry is competitive. Why should banking be any different? Banks should work for our business and we should be able to transfer our money easily to a different bank offering better service, less fees, and higher interest.