banks suck. The terminology they use is not even reality.
I emailed my long time bank with a simple question. does my savings account that pays nothing have a min required balance (Im asking because I've been moving the money out). here is their reply. the rep referred to it as a "high yield" account? LOL. it pays 0.030%... nothing. that is why I've moved it. not sure what my bank staff is smoking, but it must be some good stuff.
I appreciate you contacting us to inquire about the eSavings account and I will be happy to provide you with more information.
the yyz eSavings is a savings account that provides clients with a high yield on their investment and flexible access to the account.