Just 6 out of the largest 60 financial institutions did not charge any service fees during 2022 year.
| Financial Institutions | YoY % | Accounts | YoY % |
|---|---|---|---|
| 6 | ↓ 33% | 10M | ↓ 26% |
High-yield savings account is a savings account with higher interest rate than traditional savings accounts, usually offered online-only.
A money market account (MMA) or money market deposit account (MMDA) is a deposit account that pays interest based on current interest rates in the money markets.
CD or Certificate of Deposit is a deposit account, that has a specific, fixed term and usually, a fixed interest rate higher than a savings account.
A brokerage account is an investment account for buying and selling stocks, bonds, mutual funds, and ETFs or exchange traded funds.