Many small, community banks and online banks offer a higher interest rate than larger traditional banks. Anyone that may be unhappy with their current interest rate on a bank account might benefit from looking into what these types of financial institutions have to offer in the way of checking and savings accounts.
Many larger financial institutions simply will offer a lower interest rate because they can. Also, larger financial institutions have other areas of business running, outside of traditional banking, so they are beholden to more than just customers.
Online banks and small community banks often are in the business of just banking and serving their customers so they are able to offer higher interest rates as a result. Obviously, an online bank may have less operating costs than a large international bank, so they can offer these higher rates as well.
However, anyone that keeps a sizeable amount in their checking or savings account will benefit from having a higher interest rate. Banking customers have a lot of online banking options, but local community banks may be limited for some people.
Yet, with a little research, anyone looking for a better banking option should be able to find a savings or checking account that will meet their needs.