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Updated about 7 years ago on . Most recent reply

Ethan S.'s profile image
Ethan S.'s profile image
Ethan S.
  • from Hurricane, UT
  • Member since May 13, 2015
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48
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Ethan S.'s profile image
Ethan S.'s profile image
Ethan S.
  • from Hurricane, UT
  • Member since May 13, 2015
Connect
Ethan S.
  • Hurricane, UT
7
Votes |
48
Posts
Personal Finance

Does it makes since to switch banks for savings yields?

Ethan S.
  • Hurricane, UT
Posted

Does it makes sense to switch to a different bank for the interest the savings is yielding? The credit union I am with yields only a .30% APY. I have seen online banks that yield 1.5% APY. In terms of compounding and having a safe place to park liquid cash. Would this be a smart decision or not smart to swap?  

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