Fine print will getcha

I was perusing some financial websites and saw an ad for a WTDirect Savings Account with 5.15% APY. That’s the highest rate I have seen lately. Curious as what the catch was, I went to the website to check it out. Indeed the rate was 5.15%. If after 60 days your account balance is at least $10,000 you will continue to get that rate. If not, your rate drops to… drum roll please… 0.60% APY! Is that a typo? Did they forget a 4 or maybe even a 3? What’s the benefit of using their bank vs. my local bank? I guess they are banking on (no pun intended) people who don’t read the fine print.