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In this question I am using Wells Fargo as an example.
You will see that the interest rate for a checking account is the same as for a savings account for amounts under 250,000$ (most people). Disregarding the fact that both interest rates are paltry and significantly less than inflation, what would be the point of having a savings account instead of a checking account given that savings accounts have additional limitations, like 6 withdrawals per month, and fines if you go over?
If you got fined even once it would offset any gains you would have made through out the year, (the interest rate is 0.01%). Am I misunderstanding something, or is it clearly a bad idea to put your money into Savings in this kind of scenario?