Do you cash in on interest?

Written by Brook Schaaf

You might be leaving money on the table. I don’t mean for your site or program but for your personal bank account, dear reader.

Americans have missed out on $42 billion in interest they might have earned in Q3 2022. You’ve probably long since gotten used to negligible interest payments in your checking and savings accounts; since the Fed has been raising interest rates (most recently to 4.75% with more to come), high-interest savings accounts have quietly crept up above 3%.

Bankrate highlights several online banking options, including affiliate marketing player CapitalOne. Additionally, there are non-bank fintech alternatives such as Tellus.

My wife and I easily set one of these up for our personal banking (easy for me, that is — she did all the work). My business banks, however, seem to be giving me the runaround. One said they have the option, but only for new accounts . . . one might almost believe they don’t want to pay more in interest.

Perhaps this is why we haven’t seen (or, at least, I haven’t noticed) a surge of affiliate offers around high-interest accounts, yet it would seem to be a great opportunity for winning a significant number of new customers.

Tellus has an affiliate program, and it (and its competitors) just might have an excellent opportunity to make a lot of people more than just a little change.