How to open a savings account: 5 steps to take

When saving for a rainy day or a major purchase like a home or car, you might consider opening a high-yield savings account (HYSA). These accounts operate almost identically to traditional savings accounts, except for one major detail: the interest they earn. Many high-yield savings accounts earn 10 times or more interest than a typical savings account. And while opening a high-interest savings account should feel familiar to you if you've opened a savings or checking account before, informing yourself ca ...