Online Bank Accounts

On average and across the nation, American banks pay their customers about 0.09 percent interest on bank deposits, according to Bankrate.com (RATE). There's little we can do to get banks to pay us more, but there is a way to ensure you get paid the very best interest rate available on any given day.

You see, 0.09 percent is just the average. Some banks pay more, while others pay less. And banks that pay more today may pay less tomorrow. The key to maximizing your interest rate isn't so much having a lot of money in the bank, but making sure your money is in the right bank -- or banks.

Introducing MyMaxInterest
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That's where a new service called MyMaxInterest.com comes in. Started last year by a former banker who was tired of manually tracking which banks paid him the most interest, "Max," as it's affectionately referred to, automates the process of searching out the best-paying banks and directing your deposits to them. It works like this:

First, you open up (or already have) accounts at more than one bank. The current list of banks Max "maximizes" includes brick-and-mortar giants:
  • Bank of America (BAC).
  • Citibank (C).
  • JPMorgan Chase (JPM).
  • Wells Fargo (WFC).
  • First Republic (FRC).
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