These are three of the best high-yield savings account in America today.

These are three of the best high-yield savings account in America today. And your bank probably isn't one of them because the average bank is paying you next to nothing for your savings. Less than half of 1%. And that number straight from the FDI three I'm going to tell you about, pay around 10 times at with no hoops to jump. If your emergency fund isn't in one of them, you may be handing the bank free money every single month. On quick ground roll though. A high-yield savings account is for your emergency fund and short-term cash only. your safety net, a down payment or money you may need within the next year or so. It's not for long-term money. That belongs invested. We'll grow faster. And the three accounts that I'm going to give you have no minimum, no monthly fee and no direct deposit required. And that's not easy to find. You open it, move your money and start earning 10 times a national average. One last thing before we get into them. I did a video on how your savings accounts near the beginning of the year. I'm updating it because savings rates move up and down all the time right along with the Fed. But here's what you do not have to do though. Chase them every week. The banks known for competitive rates tend to stay competitive. They do move up and down, but they almost always pay way more than the big banks. So pick a good one once and you're set. Coming in at number three is open bank. Right around 3.8% on every dollar and no monthly fee. You do need $500 to open this one. But after that, there's no minimum to keep up. No need to be every set after that to make sure you're keeping that minimum. Number two is Everbank. Right around 3.9% on your entire balance. No minimum, no monthly fee and they've been around forever. They used to be TIAA Bank. And coming in at number one for the best high-yield savings account with no hoops, four-right bank, right around 4.15%. Nearly 10 times the average of the big banks. That's on any balance, but no minimums and no fees. That's the highest clean rate that I'm seeing right now. Now, you're going to see banks advertising up to 5%, borrow, axes, places like that. But here's the catch. They make you jump through hoops to get those rates. Root your paycheck every month. Keep a minimum balance or bundle in a checking account. Miss any of those and your rate crackers. A simple 4% account with no hoops can pay more than a flashy 5% with strings and hoops attached. Honestly, between the ones that I've mentioned, the difference is only a few bucks a year. The real win is getting your money out of the big that are paying you nearly nothing for your savings. So don't over think it. Pick the simplest one for you and open it today. And don't sweat it if it's a bank that you've never heard of. If it says FDC insured, you're protected up to $250,000. Same as Chase, Bank of America and Wells Fargo. So is your bank one of those that are paying next to nothing? And if so, let me know if you plan on switching to a high yield savings account. And while you're at it, don't forget to smash that follow button so that we can grow our network together.