I'm a large fan of behavioral finance (read Misbehaving, in Thinking Fast & Slow), etc. -- but this feels like a huge disadvantage to be giving people. Unless you have math that says the average winnings people will get will make up for the .7-8% difference you see other institutions giving?
I'm currently getting 2% from a non-FDIC insured institution, but there are many examples of FDIC-insured accounts with far greater returns.
Axos - 1.09% https://www.axosbank.com/Personal/Savings/High-Yield-Savings
CIT - .95% https://www.cit.com/cit-bank/bank/savings/savings-builder-ac...
T-Mobile Money - 4% (up to $3,000) https://www.t-mobilemoney.com/en/home.html
I'm a large fan of behavioral finance (read Misbehaving, in Thinking Fast & Slow), etc. -- but this feels like a huge disadvantage to be giving people. Unless you have math that says the average winnings people will get will make up for the .7-8% difference you see other institutions giving?