Re: Should I even have a savings account?
Wamu offer a 5% APY on the Statement Savings account if open the free chequeing and the statement savings account at the same time. It's only available online. I have done it. If the transfer limit worries you, you can get a platinum chequing account that has interest.
That said, yes, you should have a savings account if you don't spend all your money every month. It's not smart to keep thousands of dollars in chequeing because they lose power every year due to inflation.
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