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Keep minimal cash in checking; move excess to high-yield savings for better returns up to 4% APY.

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24 Aug 2026
Fool - Investing News
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Checking accounts offer almost no interest, often around 0.01%, causing money to lose value to inflation. Instead, keeping only enough in checking to cover monthly expenses and moving extra cash to a high-yield savings account paying 3-4% APY can grow savings significantly. For example, Happen Bank's LevelUp Savings offers 4.00% APY with monthly deposits and no fees, making it a smart choice to maximize returns while keeping funds accessible. This strategy helps money work harder and avoids the temptation to overspend from a large checking balance.

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