Essay

Fee friction: when a good-looking yield feels smaller

Fees do not need to be dramatic to matter. A maintenance fee, paper statement fee, transfer fee, or minimum-balance penalty can reduce the practical value of a rate.

Instead of comparing only the headline yield, compare the expected net result under realistic use. Ask how much you plan to keep in the account, how often money may move, and whether a fee waiver depends on behavior you can maintain.

A rate is useful only when it fits the way you actually manage cash.