To increase the overall APY or annual percentage rate of your bank investments you should evaluate the balances and interest rates paid on all the accounts you have with banks, including; checking, savings and certificates of deposit.  The more frequent the compound periods are on an account, the higher the APY will be.  If some account are paying a higher rate than others, simply transfer your accounts to the accounts that have the highest APY without sacrificing access to funds needed for monthly expenses.  Having multiple bank accounts is easy to establish as banks have become aggressive in marketing to new customers, facilitating the process of opening  and maintaining a new account.  With the right mix of checking accounts, savings accounts and/or money market accounts the average yields can be maximized by transferring the funds to the best rate.  It may be necessary to monitor the minimum balance requirements or choose accounts with low minimum balances and therefore keep the costs of holding multiple accounts close to zero.

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