If you hold a lot of money at a bank that is paying 0.01% APY, which is fairly standard at one of the “big banks,” it always makes sense to switch to a high yield savings account. It’s a no brainer.
But what if you have a kinda high yield savings account, say something at 3%, and you see an offer of 4% – should you switch? What if the other account has a slightly higher APY but also has a bonus?
Should you switch?
This calculator should help you decide.
Current account
New account
ACH transfers typically take 1–3 business days. Wires are same-day but often charge a fee.
Move it
You’ll come out ahead by switching.
The post Should I Switch Bank Accounts? [Calculator] appeared first on Best Wallet Hacks.
https://wallethacks.com/should-i-switch-bank-accounts-calculator/
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