2. Why Do High-Yield Savings Accounts Pay More?
It all comes down to the banks themselves. Most HYSAs are offered by online banks or credit unions. Since they don’t have to maintain hundreds of physical branches (with staff, rent, and utilities), they save money—and pass those savings to you in the form of higher interest rates.
Traditional banks rely on brand recognition and customer convenience. But if you’re willing to manage your money online or through a mobile app, you’ll almost always get a better deal with an HYSA.
