Don't worry - you will still get your high interest dividend payments into your savings accounts. You will probably have to qualify for a maximum interest account, however. Banks and credit unions work by essentially pooling everyone's money, lending it out at interest, and making a profit. To get the high interest dividend rate, you'll have to invest a high amount of cash. Five to ten thousand dollars is typical when opening these types of interest-bearing savings accounts.

Now that the financial institution has your large sum of money to work with, you will begin earning the higher annual percentage rates (APR) on your saved money. However, now that the bank has your initial investment, they want you to keep it there! It may limit the number of transactions you can perform monthly, especially on withdrawals. The amount of such transactions may also be limited. It may be necessary to keep your monthly savings balance above a minimum threshold to maintain your high interest rate. The bank may also require you to open a checking account, so that your high interest saving dividends can be periodically removed and placed into checking. This removes the benefit of compound interest, so be sure to ask your bank if this is a requirement.

If you look hard enough, it may be possible to find high interest accounts that have interest rates comparable to certificates of deposit or CD's. Both require you to put your money into the account for a long period of time. The CD forbids you to remove the funds, while the higher interest account may limit your access. Both will yield higher than normal interest payments. If you have cash that is earning low rates in a simple account, investigate high interest savings accounts and make your money grow.