Money Management

[[{“value”:”Image source: Getty Images
If you’re like most people, your savings account probably isn’t doing you many favors. According to the Federal Reserve, the national average savings APY is just 0.41% as of February 2025. That means if you have $10,000 parked in a traditional savings account, you’re earning a whopping $41 per year in interest.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. But here’s the good news: You can start earning up to 10 times more by moving your money into a high-yield savings account (HYSA). The whole process is quick, straightforward, and can take less than 30 minutes.Easy enough, right?Step 1: Find a high-yield savings account that works for youHigh-yield savings accounts are typically offered by online banks or credit unions, which have fewer overhead costs and can pass the savings along to you. As of now, some of the best HYSAs are offering APYs around 4% or more — nearly 10 times the national average.That means that same $10,000 could earn you $400 a year in interest — and all it takes is making an easy switch.When shopping for an HYSA, look for:An APY of at least 3.60%No monthly fees or minimum balance requirementsEasy online account accessFDIC or NCUA insurance (protects your money up to $250,000)Read our piece on the pros and cons of HYSAs to learn more about what to keep in mind.Want to start earning up to 10 times the national average on your savings? Check out our list of some of the best HYSAs available today.Step 2: Open the account (this is the easy part)Once you’ve found your HYSA, opening the account is fast and entirely online. You’ll need to provide basic personal information like your name, address, and Social Security number. Most banks will also do a soft credit check (which won’t affect your credit score).Many accounts can be opened in under 10 minutes. You might be asked to make an initial deposit — often as little as $1. After that, you should be up and running.Step 3: Transfer your savingsLink your current bank account and initiate a transfer. Depending on the bank, this can take a few minutes to a couple of days to complete, especially for your first transfer. Once the money lands in your new HYSA, however, it starts earning that higher APY right away (assuming all account conditions are met).Keep in mind: You don’t have to close your old savings account. You can take your time updating any direct deposits or autopayments, or just leave it open for overdraft protection.How do HYSAs work?One way HYSAs make money is by lending out a portion of your deposits at higher interest rates than they pay you, earning a profit on the difference.Since most HYSAs are offered by online banks with lower overhead, they can afford to offer better rates than traditional brick-and-mortar competitors. Some also earn money from occasional fees or by encouraging you to use other banking products they offer.Start earning up to 10 times the national average on your savings now. Check out our list of the best HYSAs available today to start taking advantage.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.”}]] [[{“value”:”

If you’re like most people, your savings account probably isn’t doing you many favors. According to the Federal Reserve, the national average savings APY is just 0.41% as of February 2025. That means if you have $10,000 parked in a traditional savings account, you’re earning a whopping $41 per year in interest.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

But here’s the good news: You can start earning up to 10 times more by moving your money into a high-yield savings account (HYSA). The whole process is quick, straightforward, and can take less than 30 minutes.

Easy enough, right?

Step 1: Find a high-yield savings account that works for you

High-yield savings accounts are typically offered by online banks or credit unions, which have fewer overhead costs and can pass the savings along to you. As of now, some of the best HYSAs are offering APYs around 4% or more — nearly 10 times the national average.

That means that same $10,000 could earn you $400 a year in interest — and all it takes is making an easy switch.

When shopping for an HYSA, look for:

• An APY of at least 3.60%
• No monthly fees or minimum balance requirements
• Easy online account access
• FDIC or NCUA insurance (protects your money up to $250,000)

Read our piece on the pros and cons of HYSAs to learn more about what to keep in mind.

Step 2: Open the account (this is the easy part)

Once you’ve found your HYSA, opening the account is fast and entirely online. You’ll need to provide basic personal information like your name, address, and Social Security number. Most banks will also do a soft credit check (which won’t affect your credit score).

Many accounts can be opened in under 10 minutes. You might be asked to make an initial deposit — often as little as $1. After that, you should be up and running.

Step 3: Transfer your savings

Link your current bank account and initiate a transfer. Depending on the bank, this can take a few minutes to a couple of days to complete, especially for your first transfer. Once the money lands in your new HYSA, however, it starts earning that higher APY right away (assuming all account conditions are met).

Keep in mind: You don’t have to close your old savings account. You can take your time updating any direct deposits or autopayments, or just leave it open for overdraft protection.

How do HYSAs work?

One way HYSAs make money is by lending out a portion of your deposits at higher interest rates than they pay you, earning a profit on the difference.

Since most HYSAs are offered by online banks with lower overhead, they can afford to offer better rates than traditional brick-and-mortar competitors. Some also earn money from occasional fees or by encouraging you to use other banking products they offer.

Start earning up to 10 times the national average on your savings now. Check out our list of the best HYSAs available today to start taking advantage.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

“}]] Read More 

[[{“value”:”Image source: Getty Images
I never thought Chat GPT could help me get my bank to reverse a fee — until it did! I saved $50, and it took me less than five minutes.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. Here’s what happened. A couple weeks back I was charged $50 to do a wire transfer at my local bank branch. To be fair, I saw the fee coming and accepted it at the time — but honestly, I just felt too nervous to ask for a waiver face to face.When I got home, I fired up Chat GPT and asked for help. It spat out a beautiful script I used to call up and get a refund.The ChatGPT script that helped meFirst I told ChatGPT my overall situation — how much I was charged, how long I had been a customer at the bank, etc.Here’s a version of the message it recommended I call the bank with:”Hey, my name is Joel, I’m hoping you can help me… I recently visited a bank branch to do a wire transfer, and I got charged an annoying $50 fee. Honestly, I’ve been a loyal customer for 12 years, and I love working with this bank. Is there any chance you can waive this $50 fee as a goodwill gesture? It would absolutely make my day.”Short. Sweet. To the point.When I called customer service, I read this word for word — and they granted my refund on the spot. If you, too, are sick of fees hitting your accounts, check out our list of top checking accounts — many of which have no or low fees and account minimums.Bank fees you might be able to get waivedMany big banks nickel and dime you wherever possible. (Some banks have no fees, and I’ll talk about my favorite ones below).But small junk fees can be easily waived. You just have to ask in the right way.Overdraft fees — If it’s your first time overdrawing, banks may waive this fee if you ask nicely.Minimum balance fees — If you fell below the threshold without realizing, it’s worth calling up and asking for leniency.Wire transfer fees — Just like my experience, waivers can be requested easily if you only do wires once in a while. Plus, usually a branch manager helps you with a wire transfer, and they typically have authority to grant your request on the spot.ATM fees — If you got charged for using an out-of-network ATM, the bank might reimburse you. (Some banks waive ATM fees automatically)Late payment fees — This could include fees and interest on credit card payments, or personal loans. If you usually pay on time, a quick request could get it reversed.Keep in mind, you don’t want to be calling your bank every day and asking for discounts. This should be an occasional request.These banks doesn’t charge any annoying feesIf you find yourself getting hit with loads of junk fees, you should consider switching banks!While you’re at it, you might even be able to snag a welcome offer or a higher APY on your balance.Check out our top six high-yield checking accounts with the best APYs and lowest fees.Other prompts to help you with bank feesIf you’re new to using ChatGPT, here are some ideas to get you started. Just log in and try typing in a request like this:”I’m trying to get an overdraft fee reversed at my bank but am nervous about asking. Can you write me a polite and professional request to help get my fee waived?””Give me a script for calling my bank to ask for a refund on an ATM fee.”Next time you see a surprise fee, don’t just accept it. Ask your bank if they are willing to give you a refund. The worst they can say is no.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.Discover Financial Services is an advertising partner of Motley Fool Money. Joel O’Leary has no position in any of the stocks mentioned. The Motley Fool recommends Discover Financial Services. The Motley Fool has a disclosure policy.”}]] [[{“value”:”

I never thought Chat GPT could help me get my bank to reverse a fee — until it did! I saved $50, and it took me less than five minutes.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

Here’s what happened. A couple weeks back I was charged $50 to do a wire transfer at my local bank branch. To be fair, I saw the fee coming and accepted it at the time — but honestly, I just felt too nervous to ask for a waiver face to face.

When I got home, I fired up Chat GPT and asked for help. It spat out a beautiful script I used to call up and get a refund.

The ChatGPT script that helped me

First I told ChatGPT my overall situation — how much I was charged, how long I had been a customer at the bank, etc.

Here’s a version of the message it recommended I call the bank with:

“Hey, my name is Joel, I’m hoping you can help me… I recently visited a bank branch to do a wire transfer, and I got charged an annoying $50 fee. Honestly, I’ve been a loyal customer for 12 years, and I love working with this bank. Is there any chance you can waive this $50 fee as a goodwill gesture? It would absolutely make my day.”

Short. Sweet. To the point.

When I called customer service, I read this word for word — and they granted my refund on the spot. If you, too, are sick of fees hitting your accounts, check out our list of top checking accounts — many of which have no or low fees and account minimums.

Bank fees you might be able to get waived

Many big banks nickel and dime you wherever possible. (Some banks have no fees, and I’ll talk about my favorite ones below).

But small junk fees can be easily waived. You just have to ask in the right way.

• Overdraft fees — If it’s your first time overdrawing, banks may waive this fee if you ask nicely.
• Minimum balance fees — If you fell below the threshold without realizing, it’s worth calling up and asking for leniency.
• Wire transfer fees — Just like my experience, waivers can be requested easily if you only do wires once in a while. Plus, usually a branch manager helps you with a wire transfer, and they typically have authority to grant your request on the spot.
• ATM fees — If you got charged for using an out-of-network ATM, the bank might reimburse you. (Some banks waive ATM fees automatically)
• Late payment fees — This could include fees and interest on credit card payments, or personal loans. If you usually pay on time, a quick request could get it reversed.

Keep in mind, you don’t want to be calling your bank every day and asking for discounts. This should be an occasional request.

Other prompts to help you with bank fees

If you’re new to using ChatGPT, here are some ideas to get you started. Just log in and try typing in a request like this:

• “I’m trying to get an overdraft fee reversed at my bank but am nervous about asking. Can you write me a polite and professional request to help get my fee waived?”
• “Give me a script for calling my bank to ask for a refund on an ATM fee.”

Next time you see a surprise fee, don’t just accept it. Ask your bank if they are willing to give you a refund. The worst they can say is no.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.Discover Financial Services is an advertising partner of Motley Fool Money. Joel O’Leary has no position in any of the stocks mentioned. The Motley Fool recommends Discover Financial Services. The Motley Fool has a disclosure policy.

“}]] Read More