Move savings from a traditional bank account (often 0.01% interest) to a high-yield savings account (HYSA) paying significantly more. Same protection, meaningfully better return on idle cash.
Anyone holding savings at a big bank. The easiest upgrade available with zero added risk.
Search for online banks offering high-yield savings accounts — compare current APY rates.
Open an account. Most have no minimum balance and no monthly fees.
Transfer your emergency fund and savings goals to the new account.
Confirm the account is FDIC-insured up to $250,000.