High Interest Rates Aren't Enough Anymore — Here's What Your Bank Should Be Offering You

When was the last time you felt excited about your bank? Between the hidden fees, confusing processes, and that sinking feeling every time you check your balance, traditional banking feels stuck in the past. But here's the thing — you should be expecting way more from your financial institution than just storing your money.

For many, the first introduction to saving money was probably a piggy bank stuffed with birthday money and loose change. Fast forward to today, and somehow, banking hasn’t evolved much beyond “Here's a slightly better interest rate!” Between student loans, rising rent costs, and that pesky habit of occasionally wanting to enjoy life, banks need to step up their game.

But this isn’t about you needing to get better at budgeting or cutting out your daily coffee run. The real issue? Banks need to innovate beyond the basics to actually serve people's needs in 2025.

The Banking Benefits You Should Be Demanding

"People shouldn't be afraid of expecting more from their bank," says Alex Matjanec, CEO and founder of fintech company Wysh. "Financial institutions have a responsibility to empower their customers to take control of their finances and achieve their goals." And he's not just talking about better mobile apps or fewer ATM fees.

Progressive banks are starting to offer game-changing benefits like:

• Embedded life insurance protection that grows with your balance
• Smart emergency savings features that automatically detect and cover unexpected expenses
• Personalized financial wellness tools that adapt to your specific goals
• Reward programs that go beyond basic cashback to include things like wellness benefits
• Automated micro-investing options built right into your checking account

Banking That Actually Gets It

What makes these new approaches different is that they understand what young women today are actually dealing with. Take life insurance, for example. A staggering 106 million Americans are currently uninsured or underinsured*, and traditional banks aren't helping solve this problem. But innovative institutions like Wysh are now offering something revolutionary: life insurance protection that's automatically built into your bank account, with coverage that grows alongside your balance.

"It's not just about holding money anymore," Matjanec explains. "Modern banking should be about creating a complete financial safety net that grows with you, regardless of your health history or financial background." The beauty of this approach is its simplicity – no medical exams, no complicated paperwork, just automatic protection that increases as your savings grow. Whether you're building your emergency fund, saving for a dream business, or planning for a family, your bank account should do more than just hold your money – it should help protect your future and the people you care about.

Your Money, Your Power

Here's the bottom line: Your bank should be a partner in helping you build the life you want. Digital banking has made things more convenient, but convenience isn't enough anymore. Real innovation that addresses actual financial challenges is needed.

Companies like Wysh are working with banks to bring these kinds of innovative features to more people, regardless of their background or current financial situation. The goal? To transform banking from a transactional relationship into a true partnership that supports your financial dreams.

So next time your bank tries to wow you with a 0.5% interest rate bump, remember that you can demand more. Ask about additional protections and benefits. Look for features that actually make your financial life better. Because let's face it — you deserve better than just a slightly shinier version of that childhood piggy bank.

Ready to raise your banking standards? Start by asking your bank what additional benefits they offer beyond basic interest rates. If they're not stepping up, maybe it's time to look for one that will. Because in 2025, your bank should be working as hard for your financial future as you are.

*Scanlon, James T, et al. "2022 Insurance Barometer." LIMRA.com, LIMRA, and Life Happens, 25 Apr. 2022

*Investing involves risk, and your investment may lose value. Past performance gives no indication of future results. These statements do not constitute and cannot replace investment or financial advice.

BDG Media newsroom and editorial staff were not involved in the creation of this content.