@SCSportsArchive @SportingNest@RIFT_589@basilthegreat I don't keep my money in banks. Emergency account in a high yield savings and that's it. Everything else is in assets. If it's not my money when it's in there, why keep it there?
@SCSportsArchive @SportingNest@RIFT_589@basilthegreat I wouldn't call it an incentive. If banks could avoid giving you APY, they would. They just have to. Also high yield banks are giving you the market rates that they are suppose to. 3-5% is the standard APY you should be getting.
@EiLeeGeorge@HavelockVetina3@RIFT_589@basilthegreat All checking and savings account pay interest. Free or not. The interest is usually .01% so you're losing money regardless. Might as well put your money in a High Yield Savings account if you're going to have it sitting in a bank.
@HavelockVetina3@RIFT_589@basilthegreat No you don't retain ownership of it. You are giving the bank an unsecured loan when you deposit funds into any type of checking/savings account. Hence why you receive interest on your money. You can ONLY gain interest on a loan.
@SportingNest@RIFT_589@basilthegreat I'm curious as to where you found that. Because that is 100% wrong. If you were the legal owner of the funds in your bank account, then you wouldn't be getting interest on said funds. You can only get interest on funds that you loaned to another party.
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