Banksters!

[jfkraus]

I thought it might be a good idea to open a savings account, so I went to my bank to see what rate of return I could expect. Here is what they are offering. 0.05% apy. That means if my average balance for the year was $10,000, I'd earn $5. There's a monthly $5 maintenance fee, so after a year, I would lose $55. Am I missing something here? The prime lending rate is 3.25%. 0.05% is 1.5% of the prime. Is this normal? I might as well keep my money in an old coffee can burried in the back yard!