Bank Rate Comparison

If you're checking comparison sites for the best bank rates, then you're missing out on one of the most dynamic and innovative ways to find the best return on your investment: MoneyAisle Live Auctions!
Read more below.

Live Auctions vs. Rate Aggregators: A Comparison

The way most rate aggregator sites work is this: banks post their highest rates for different financial products (CDs, High-Yield Savings accounts, etc.), which then remain static on the site. There is no live impetus for the banks to raise their rates while you're searching.

By comparison, the live auctions that are provided at MoneyAisle function a little differently. Banks don't post set rates, they bid rates in a live, online auction: different factors come into play once you set your deposit amount and each auction is unique. This causes the banks to bid rates more dynamically rather than just set a static rate.

Active competition, with other banks pushing their competitors to raise rates higher during an auction, benefits the consumer. Think of a road race: do most people run faster if they're by themselves or if they've got runners on each side, pushing them to reach new limits of endurance? Live auctions work in a similar way - the drive to win can be a powerful motivator.

Once the bank has won the auction, the consumer wins as well - by reaping the benefits of this competition through the great rates offered.

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