Why big banks aren't interested in your savings account

WNYC | Aug 15, 2024

Some bank customers are jumping to high-yield savings accounts to escape the shockingly low interest rates of personal savings accounts at big banks. So why aren't these banks raising their rates to attract more customers? Today on the show, we explore why big banks may not care about your savings account anymore.

Related episodes:
The dangers of money market funds (Apple / Spotify)
Interest rates up, but not on your savings account (Apple / Spotify)
Bad Form, Wells Fargo

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

Copyright 2024 NPR

Be alert for scams. WNYC never asks for nor accepts money for coverage or interviews. Anyone making such a request does not represent WNYC.

Top Stories

Your guide to voting in New York's 2026 elections for governor and Congress

Gina Hinojosa Aims to Make Texas Blue Again. Plus, Reading Is Alive and Well

Claire Valdez on populism and the DSA agenda in Congress

The Classroom/Technology Pipeline

YOU ARE ONLINE