What are High-Interest Savings Accounts?
It’s pretty straight forward and explained in the name alone. High-interest savings accounts offer a much higher annual percentage yield per year over your typical banks savings account. Most banking is done entirely online as well. Store fronts and in-person transactions are a thing of the past as direct banks usually operate entirely virtually. A lot of people aren’t comfortable with dealing entirely online, but the security measures put in place are on the same level, if not higher, than a lot of online web banking interfaces. Virtual banks are convenient and growing in popularity.
