Opening checking and savings at different banks often earns more interest and makes spending and saving feel clearer.

The average rate on an interest-earning checking account is an abysmal 0.07% . “Accounts offering interest are a way for the bank to bring in more deposits or appeal to customers with larger balances,” says Bankrate chief financial analyst Greg McBride ...

Discover how money market interest rates are set, why they can offer higher returns than savings accounts, and what factors influence these rates.