Don’t Waste Your Money: Banks Are Low-Balling Your Savings Account
CHARLOTTE, N.C.– It may be hard for you to notice the interest you’re earning on the money in your savings account. Banks are paying out 1% interest or less on those accounts. According to the FDIC, the average savings account still pays less than half of one percent. There are better options if you want your savings to earn you more money. Consumer reporter, John Matarese breaks down how much some online banks are paying in interest.