Now may be a particularly good time to pay attention to where your cash is earning interest. Interest rates are rising, and banks are competing aggressively for deposits, creating opportunities to earn more by moving your money between high-yield savings accounts (HYSAs).
That’s the basic idea behind rate shopping: periodically comparing the rates available on your cash and moving your money when you find a meaningfully higher APY.
Platforms such as Raisin make this strategy easier by giving you access to savings products from multiple banks through one platform.
Keep reading if you are interested in learning how cash rate shopping works.
Continue reading “Rate shopping: How to earn more by moving your cash between HYSAs”