Managing bank balances: Deposits go walkabout | The Economist

Managing bank balances: Deposits go walkabout | The Economist.

Excerpt:  That is the premise behind MaxMyInterest, a year-old electronic service aimed at slothful but yield-hungry savers. It offers to move money from banks that want to shed deposits, and that therefore pay savers low interest, to ones in need of them, and so willing to pay more. At the same time, it makes sure that each account holds no more than $250,000, the maximum amount insured by the government, providing not just higher returns, but risk-free ones.

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