In a competition to increase the number of account holders, many banks are offering high interest savings accounts. Offering these accounts to customers benefit banks because they are able to lend out more money. Consumers are attracted to high interest savings accounts because they offer competitive rates, and are safe investments compared to stocks. However, there are some drawbacks to high interest savings accounts that have not been made known to some consumers.There are costs included with high interest savings accounts that consumers may not have taken into consideration. Most accounts are accompanied by various costs, including monthly maintenance fees, annual fees, and withdrawal fees.Some high interest savings accounts require a minimum fee to open an account, and minimum monthly