High-Yield Bank Accounts Quiz

Why is it a mistake to keep money in a traditional bank account during high inflation?

• Traditional banks offer high interest rates.

• Traditional banks have no fees.

• Traditional banks offer low interest rates, leading to loss of purchasing power.

• Traditional banks provide free financial advice.

What is the APY offered by Sofi's savings account with direct deposit?

• 4.05%

• 1.2%

• 2.5%

• 3.75%

What is a unique feature of Sofi's savings account?

• High foreign transaction fees

• Limited ATM access

• Vaults for organizing savings goals

• In-person banking services

What is the APY offered by Capital One 360 savings account?

• 3.75%

• 0.45%

• 3.4%

• 4.05%

Which feature is common between Ally Bank and Sofi?

• Low APY

• In-person banking

• Buckets for organizing savings

• High foreign transaction fees

What is the APY offered by Wealthfront Cash account?

• 0.45%

• 4.05%

• 3.75%

• 3.4%

What is a limitation of the Wealthfront Cash account?

• No cash deposits

• Low APY

• Limited ATM access

• High fees

What is the APY offered by Discover's online savings account?

• 3.4%

• 3.5%

• 4.05%

• 0.45%

What is a unique feature of Charles Schwab's investor checking account?

• High foreign transaction fees

• In-person banking services

• Unlimited ATM fee rebates worldwide

• High APY

What is the main benefit of using Charles Schwab's debit card for travelers?

• High APY

• No foreign transaction fees and ATM fee rebates

• Limited ATM access

• High foreign transaction fees