conversation: User (Flippy042): "My local bank offers a savings account with 0.07% APY. It seems like most online banks have savings accounts with 1.40% - 1.50% APY.\n\nWhy can online banks offer such a higher interest rate and is it safe to transfer my savings from local to online?"
  Self: "Overhead, as many others stated. One downside to online banks is when you need a Certified Check. (Like when you buy a home)\n\nWiring is always a solution, but must be done in advance typically, and wire fraud is getting crazy, so there is added risk. In my small market alone, Ive seen 2 counts of wire fraud both over $50k. "
  kinkykoolaidqueen (kinkykoolaidqueen): "Also depositing cash "
  