Reward Checking Accounts
13 January 2008One of the more popular savings account trends over the past few months has been the concept of “Reward Checking” accounts. Banks across the country are offering them, most likely your bank is already. They tout high interest rates, but come with some requirements. Here’s the typical list:
- Multiple (<10) debit card transactions monthly
- No Paper Statements, Use of Online banking required.
Search Bank Deposit Rates here.
However, if you’ll forego paper, and use your debit card at stores, there is a worthwhile reward: the accounts typically pay greater than 5% interest on balances over $25,000 with no monthly fees.
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