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 16 times more interest than the national average. Updated August, 2022.
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.