$10,000 in Savings Earns $1 at Bank of America, but $390 at This Bank
This one still gets me. If you’ve got $10,000 sitting in a savings account at Bank of America, you’re probably earning about $1 a year in interest. One. Single. Dollar.
But move that same money into a Barclays Tiered Savings account, and you’d earn around $390 in a year. No gimmicks, no risky investments, just a better interest rate.
People either don’t realize or are too lazy to switch
I still can’t believe how many people are stuck earning next to nothing on their savings. The big banks — Bank of America, Chase, Wells Fargo, for example — they’re offering 0.01% APY on savings accounts. That’s not even keeping up with inflation.
They count on people being too busy or too loyal to switch. But it’s your money. You deserve better.
Barclays is actually paying you to save
Right now, Barclays Tiered Savings is offering 3.90% APY. That means your $10,000 earns about $390 in a year by just sitting there. And it’s FDIC-insured, just like the big banks.
It’s not a teaser rate either. Barclays has consistently been one of the top-paying high-yield savings accounts for years.
Open a Barclays Tiered Savings account and start putting your savings to work today.
This move took me 10 minutes
When I finally made the switch to a high-yield savings account, I kept my checking account at my old bank and just moved my savings over. That’s it. No fees. No monthly minimums. And now I actually see my savings grow each month.
That $389 difference in a single year? Multiply that over a few years and you’re talking real money that you can put toward travel or holiday spending.
Don’t let your bank hold you back
If you’re like most people, you probably haven’t thought much about your savings account. But that quiet little balance could be working a lot harder for you.
Barclays Tiered Savings is a solid option, but it’s not the only one. The key is picking a high-yield account that fits your goals and doesn’t treat you like an afterthought.
Compare today’s top high-yield savings accounts and stop leaving money on the table.