<prompt> Human: My bank seems to allow me unlimited checking and savings accounts with no fees. Savings accounts have something below .35 APY, have restrictions on no. withdrawals per month, and no debitATM card is provided.Also, I think even the checking account provides some minimal interest payment when the balance is over 1k. So why would anyone have a traditional savings account? What am I missing?even CDs have crap rates, no idea why anyone would lock their money away 2 years for .65 APY  <response>: Interest rates are so low right now that the interest rate for savings is barely better than that of a checking account from the same bank, and often the difference isnt enough to warrant the additional restrictions. Youll find the same issue with money market accounts - even more restrictions, but not really a much better rate than a savings account from the same bank. Savings and money market accounts were more useful when interest rates were higher in general, as the improvement in interest was much more pronounced. 