Depositors lost trillions since the last few years in purchasing power due to low interest on deposits at the banks and high inflation: https://blog.maxint.com/purchasing-power-loss/

Be careful with treasuries, during times when the Government is heading towards default otherwise pick the highest yield and lowest fee option, SGOV offers the highest yield right now, here are the latest rankings, based on yield and fees: https://blog.maxint.com/treasury-bill-etf/ unless you don't want to pay any fee and do it yourself via https://www.treasurydirect.gov/

There are a lot of money market funds, make sure you read their prospectus to understand where they invest your money. VMRXX offers the highest yield right now, here are a few more: https://blog.maxint.com/best-money-market-funds/ which are also a good alternative when the Government is heading towards default.

Prioritize based on your needs and financial circumstances, starting with MMFs, treasury ETFs and lastly consider bank accounts for a small % that you need to have available on-sight. This is not financial advice.