<prompt> Human: I have 10,000 dollars as an emergency fund, sitting in a standard bank savings account making 0.1 interest. I would like to try to earn something off this amount, but would still need it to be somewhat accessible in an emergency. I could theoretically charge more than 10000 to a credit card, so wherever I put the money, I would just need to be able to retrieve it by the end of that month to pay off the balance. Any suggestions? Im really just trying to beat the 10 cents in interest I earn per month.Assistant: How about a high-yield savings account, such as the one offered by Ally? Allys savings account currently yields 1.15. The funds are FDIC-insured. Note that Ally is one of several online only banks without physical locations.Human: I feel weird about online banks, but that is largely due to my ignorance. Is a bank like Ally considered as legitimate as a traditional bank these days? How do they offer such high interest rates?Edit: thank you PF for downvoting my ignorance. This is why people dont like asking questions here.Assistant: Is a bank like Ally considered as legitimate as a traditional bank these days?Theyre FDIC insured. Which is the only legitimacy a bank needs unless theres something specific youre thinking of?How do they offer such high interest rates?Lol at 1 being high but they can offer this in part because they dont have physical locations and the associated costs. Its fairly straightforwardHuman: Sweet, yeah I guess Im a bit silly thinking a traditional bank is safer just because of a physical building. I acknowledge your point that FDIC provides legitimacy. Also a lot of brick and mortar institutions are pretty corrupt anyways.Also, yes 1 is still dismal but its much better than .1 ! :  <response>: Just think about it this way. Do you consider amazon to be untrustworthy or shady because they dont have physical locations? They generally offer better deals for the same reasons. Not having physical stores gets rid of a lot of the operational costs and the savings can be passed down to the customers. 