High Yield Savings Account – 7 Things to Know Before Opening an HYSA

High Yield Savings Accounts (HYSA) can be a good way to earn some extra money on the cash you have sitting in the bank. However, they do come with some red flags that you should know before you open up an account. This video will cover everything about HYSA’s from why their interest is higher than the normal savings account, why the interest rates might be too good to be true, and which are the best high yield savings accounts according to reviews!
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High-Yield Savings Accounts:

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Chapters:
00:00 Things to Know Before Opening a HYSA
00:19 HYSA Not for Long Term Investment
01:29 HYSA Are Not for Spending
02:34 What HYSA Are Best for
03:49 HYSA and Taxes
04:09 Read the Fine Print
06:23 Should You Open Multiple HYSAs?
07:21 Are HYSAs FDIC Insured?
08:14 What HYSA is Best for You?
08:56 Top High Yield Savings Accounts
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Disclaimer: APYs mentioned in this video are accurate as of the time of recording but are subject to change at any time. Always check with the bank or provider for the most up-to-date rates. Some of the links in the description are affiliate links, which means we may earn a commission if you sign up through them, at no extra cost to you.

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