Access to Easy Access Savings Accounts
Two thirds of easy access savings accounts have restrictions on accessing savings in an emergency.
Research found that out of the top 30 easy access savings accounts, 22 have restrictions on how quickly you can access your money.
Having an emergency fund is crucial for financial resilience and protection in case of urgent cash needs.
It is essential to have your emergency fund in an accessible account that earns interest and grows faster than inflation.
Having money set aside in an emergency fund is a key part of building up your financial resilience and offering you protection in case you need cash in a hurry.
- 22 out of 30 top easy access savings accounts have restrictions
- Importance of accessible emergency funds
- Need for accounts that earn interest and grow faster than inflation
Author's summary: Restrictions apply to most easy access savings accounts.