Is switching banks worth it

Interest rate offered by banks, especially online banks, have increased recently. Consumers who have remained for years with banks and credit unions that offer low interest rates, fees and account restrictions may do much better by opening a new account. High yield savings accounts currently offer 5.0% or more APY, and checking accounts can offer around 4%, more if certain conditions are met. Depending on your banking patterns, switching accounts could generate enough monthly interest to pay for necessities, or for luxuries such as satellite radio, tv streaming service and cell phone service.