The US financial industry has been consistently reducing the value of consumer savings accounts. Their interest is poor, their rules are arcane, they&#x27;re awkward to work with, and they&#x27;re often oversold as a feature to consumers who neither need nor want them.<p>In many institutions, interest bearing checking accounts with sufficient minimum balances deliver HIGHER returns than savings accounts for the same balances. In most cases, the march of inflation means your savings account is a pretty depressing way to LOSE money over time.<p>The savings account is a legacy product from an entirely different era in the American banking system. For the most part, consumers realize this and avoid them.