What is the difference between a HYSA and a regular savings account?

The main difference is the interest rate. Traditional brick-and-mortar bank savings accounts often pay 0.01–0.05% APY, earning almost nothing. High-yield savings accounts at online banks pay 10 to 100 times more — often 4–5% APY. Both are FDIC-insured for the same protection. The only tradeoff with HYSAs is that deposits and withdrawals take 1–2 business days to transfer, versus instant access at your main bank.