I moved all my savings out of my local bank recently. I looked a few months ago and saw they war paying me literally .1% interest in my money market savings account....when interest rates nationally are like 5%.
I moved everything out except what I use month to month in checking, and put it into a high yield savings account with American Express.
I’d would have accepted a slightly less competitive interest rate from my local bank and still allow them to hold my savings...but they weren’t even remotely competitive. Borderline insulting actualy.
We’ve moved most of our money out of the bank and into hard assets. We keep enough to pay the monthly bills.