, Columnist
Savers, It’s Time to Choose an Online Bank
The average interest rate on a savings account is 0.13%, but some online banks offer 2.5%.
How much do you want to pay for that machine?
Photographer: Joe Raedle/Getty Images North AmericaThis article is for subscribers only.
You should reconsider the bank you use, at least for some of your savings. Chances are, if you're a customer at one of the major retail banks, you’re leaving real money on the table.
High-yield online savings accounts are finally starting to feel like they are in fact, high-yielding — or at least higher-yielding than they’ve been in recent years.