The interest earning potential on a $50,000 high-yield savings account is significant if opened right now. Getty Images

Have you checked the average interest rate on a traditional savings account lately? While rates on vehicles like certificates of deposit (CD) and high-yield savings accounts are elevated now, even following recent rate cuts, the average rate on a regular savings account is barely existent. At a rate of just 0.38% now, according to the FDIC , savers are essentially losing money by keeping their funds in one of these accounts. And, if that money is in the five-figure range, the interest-earning loss is significant.

But it doesn't have to be. With a high-yield savings account, savers can still secure rates in the 4% to 4.50% range , making them over 900

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