MarketWatch posted the piece, "Tempted to chase fat yields in money market accounts? Why it might not pay to switch." It tells us, "​The yield chase is on. After more than two years of historically low interest rates, savers are rediscovering that they can earn money on their money by letting it sit. During the pandemic, many savers noticed that their checking account paid little or no interest. Their savings account didn'​t pay much either. Maybe they moved money into a high-​yield savings account. Perhaps spurred by ads from online banks, they decided it was worth the trouble to nab an extra 0.​5% or 1% of interest. In the past six months, some money-​market funds have offered an even better return. Money-​market funds are a type of mutual fund that hold a mix of short-​term corporate and municipal debt along with U.​S. Treasury bills and other vehicles. Major brokerages such as Fidelity, Vanguard and Charles Schwab offer them ... and they now pay above 4%." The article adds, "Haas adds that chasing yields too aggressively can have unintended consequences. Linking each newly established account with your main bank account can prove difficult, and slow-​moving wire transfers can delay access to your cash.... Before depositing money into any high-​yield bank account or money-​market fund, check for minimum account size, maximum number of transactions per month, direct deposit requirements and other restrictions."

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