About $4 trillion in wealth is currently idling in U.S. money market accounts earning an average of 0.33%. Such puny rates are encouraging some intrepid souls, reassured by the FDIC's deposit insurance of up to $250,000 per account, tornventure into higher-yield savings and checking accounts. But these deals come with strings attached and a variety of risks. You may find yourself banking with institutions that are less than rock-solid, with teaser rates that drop almost immediately, or with rigid qualifications that void the rate if you don't measure up.
展开▼
