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Is a savings account safer than a checking account?

A Savings Account is safer than a Checking Account because there isn’t a debit card or cheques attached to your Savings Account. Both Savings Accounts and Checking Accounts are still insured by the FDIC and Electronic Funds Transfer Act against unauthorized or fraudulent transactions.

What is better than a high yield savings account?

To earn a higher interest rate on your money, consider these five alternatives to a traditional savings account. Certificates of deposit (CDs) Cash management accounts. High-yield money market accounts (MMAs) Peer-to-peer lending. Online bank savings accounts.