Welcome to This Week on Reddit, our weekly series that answers redditors’ biggest banking questions. Each week, our editors choose an interesting and relevant user question to examine. Read on for our expert analysis.

Over the past few months, savers have watched their account yields steadily decline in response to the Federal Reserve’s interest rate cuts.

Right now, the national average rate for a savings account is 0.41%, according to the FDIC. A year ago, that figure was 0.47%, though some banks and credit unions offer rates more than 10 times higher.

With rates continuing to trend downward, many savers are reevaluating their savings accounts and weighing their options.

Read more: 15 savings accounts with interest rates of 4% APY and higher

Reddit user justdowntheblock posed the following question:

The original poster is correct — both accounts seem similar on the surface, with the main difference being the interest rate. American Express offers 3.7% APY, while Wealthfront offers 4% APY (with the ability to bump that rate to 4.5% for three months by referring customers).

One user, Raven21X, is a current Wealthfront customer and would recommend the account. In addition to the higher rate, Wealthfront also provides FDIC insurance beyond the typical $250,000. “They use a sweep program with multiple banks for up to $8m FDIC coverage per person/entity,” they explained.

However, as redditor embourgeoisement1387 pointed out, the higher rate that Wealthfront offers is subject to change. “That 4% on Wealthfront may or may not stay 4% because rates change, especially when there are Fed rate cuts. If rates decrease, they may lower their APY quickly,” they wrote.

On the surface, it appears that Wealthfront’s savings account has an edge over Amex. But there’s a big difference between these two accounts that this thread doesn’t address.

Wealthfront does indeed offer a higher interest rate than American Express on savings balances. However, while American Express offers a standard high-yield savings account (HYSA), it’s important to note that Wealthfront’s savings option is a cash management account, not a savings account.

A cash management account combines certain features of checking and savings accounts and is available through brokerages and investment firms rather than banks or credit unions.

Both the Wealthfront Cash Account and the Amex HYSA are FDIC-insured but in slightly different ways. Brokerages or firms offering cash management accounts don’t insure your money themselves. Instead, they sweep your balance into one or more FDIC-insured partner banks. This often allows cash management accounts to offer more than the typical $250,000 worth of FDIC insurance to each customer.

In the case of Wealthfront, its cash management account is insured up to $8 million through its partner banks. Depositors with Amex accounts, on the other hand, are insured up to $250,000 per depositor per ownership category.

Neither institution charges a monthly fee for these accounts or poses minimum balance requirements. Wealthfront does boast a higher APY, but rates on both of these accounts can change at any time and shouldn’t be the sole deciding factor when choosing one over the other.

Read our full review of American Express National Bank

A high interest rate is important for growing your savings account balance over time, but these rates aren’t set in stone and shouldn’t be the only reason you choose a specific account.

When evaluating any savings account, consider the fees, minimum and maximum balance requirements, online banking and mobile app capabilities, the institution’s reputation, and federal insurance coverage limits.

Knowing which factors are most important to you can help you narrow down your choices and land on an account you’ll be happy with, even if rates drop.

If you’re not sure where to start, check out our ranking of the 10 best high-yield savings accounts for this month.