<prompt> Human: Im currently with US Bank and have both a checking and savings account. But Ive been reading about these accounts with Discover and Ally that have much better granted, not great interest rates. I recently started an internship paying around 1,200 biweekly and have little expenses. Are there any downsides to having my emergency fund in one of these higher interest rate accounts while also having my two accounts with US Bank?  <response>: The biggest issues are:Speed to access the funds - make sure you do a test transfer to get a feel for how long you have to wait before you can access the money. Keeping track of terms, conditions and fees. This is minor, but make sure you keep track of any incentivesfees and the associated balances or number of transfers allowed with both banks. Being careful while transferring money: There is a non-null chance of putting the wrong bank information in when transferring money.Benefits: Better interest rates without the hassle of having your primary checking in an online-only account.Harder to access savings - youre less likely to spend it.Better interest rates.Less likely to have ALL your money stolen if someone hacks your account. Suggestion:Have the beginning of our emergency fund in your US bank. This will protect you from overdraft fees and minimum balance think 1 months expenses, the minimum balance needed to waive all fees or 1k, whichever is highest. The rest should go in an online-high interest savings account. 