1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.
3 CMA stands for Cash Management Account. It’s an account with an SEC-registered broker dealer that allows your funds to be swept nightly to an interest bearing account at a federally insured depository institution.
4 The national average interest rate is currently 0.09% per the FDIC's website. Only the highest advertised offer is estimated to earn up to 6 times more interest than the national average. Updated October, 2020.
Here is what you'll need: valid id, social security number, and your address, phone & email.
Keep your local bank, use your current checking/savings account & routing number to transfer funds to your new online savings.
Relax & watch you savings grow with the peace of mind that your account is government insured for $250,000.