The high interest accounts below are offered by US providers and differ in account opening requirements.
Often banks that offer a high yield savings account operate only online and don’t have a brick and mortar presence.
Because there is no overhead that the traditional brick and mortar banks have, they can generate more profit. This allows them to pass these profits on to the customer to be able to offer high rate savings.
Depositing money into a high interest savings account is increasing in popularity and because of this there will be more competition amongst banks to attract more customers, it’s advised to compare high interest bank accounts and to shop around.
Note: Canadians can find similar accounts offered by Canadian savings account providers.
PLUS an extra 10% quarterly bonus on interest earned with a monthly average balance of at least $15,000 or use of a Capital One credit card at least once a month.