General questions
Is a high-yield savings account worth it?

Depending on your needs, yes – a high-yield savings account can be a worthwhile place to put at least some of your money. High yield savings accounts like MoreSavings are a good place to keep money – especially funds you may need to access on short notice – because they provide three key benefits:

Can you earn money with a high-yield savings account?

Yes, because you’re guaranteed a certain rate of return on your high-yield savings account.

What is the difference between APR (Annual Percentage Rate) and APY (Annual Percentage Yield)?

APR, which stands for Annual Percentage Rate, is the interest rate on an account plus any fees you'll have to pay. It's calculated either monthly or annually basis and shown as a percentage. APY, which stands for Annual Percentage Yield, is the rate you can earn on an account over a year.