<prompt> Human: Basically title. I am looking to finally open a savings account and noticed this. In the end I am basically losing money. Can I use an index fund account or an ETF for the same purpose?  <response>: If you need a savings account then you need a savings account. A savings account is not the same as a mutual fund. You dont need investments, you need a savings account. Yes, theres a cost to keeping cash. 