The Best High-Yield Checking Accounts for 2012
If you’re still using one of the “big banks” you’re probably not getting the service you deserve … and I can guarantee that it’s costing you.
The best high-yield or reward checking accounts are typically online or Internet-only banks. They have low overhead and pass the savings on to their customers.
Not only do reward checking accounts give you much better customer service, but the best ones are 100% free and pay you interest or equitable rewards.
Keep in mind that “high-yield” is relative because interest rates are at historic lows. However, it’s still smart to get as much interest as you can and to pay as few banking fees as possible.
So, if you haven’t made the switch to a better bank, here are 5 places to find the best online checking accounts for 2012:
#1 – 
Ally is an online bank with no monthly maintenance fees, no minimum opening deposit, live 24/7 customer service, a huge ATM network, and
is FDIC-insured. Ally is built on the foundation of GMAC, one of America’s largest financial services providers with 12 million customers.
#2 – 
ING DIRECT is an online bank with no monthly fees, no minimum balance requirement, excellent customer service, a huge ATM network, and is FDIC-insured.
ING is offering a $50 bonus when you open a checking account.
#3 – 
PerkStreet FinancialSM is an online bank with no monthly fees, no minimum balance requirement, 24/7 customer service, one of the largest ATM networks, is FDIC-insured, and offers the only unlimited 1% cash back debit card.
#4 – DepositAccounts.com allows you to compare rates on reward checking accounts from nationwide banks and credit unions.
#5 – CheckingFinder.com allows you to compare and open free, high-interest checking and savings accounts from community banks nationwide.
Bank interest rates can change, so my recommendation is to choose an account with a competitive rate that has features that are most important to you.
If you’re not sure about making the leap to an online rewards checking account, remember that you can have more than one checking account–consider easing into the transition by having both a local and an online checking account.
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The only trouble with Ally is that few people are aware of its history.
They are the renamed remains of GMAC, part of the General Motors empire. Our tax monies paid to bail out their bad loans, and the bank was renamed Ally. When I’ve told others about this, some were nonplussed, others were shocked to learn they were dealing with a company funded by their own tax dollars.
Food for thought.
Hi,
I was looking at the perk street financial website.
It looks like they changed there policy from 2% unlimited to 1% now.
Do you know why they decided to make this change?
Thanks for all your info.
Regards,
Arthur
I have been surfing the net for the highest interest checking accounts out there. All I can find is GARBAGE! My little Northstar Bank of Texas blows any big national bank out of the water with there 2% yes that is 2% annual interest on any volicity checking account. Maybe some of these big branches could learn a lesson from the little guy.
jk
awesome, thanks Jason, I googled banks with highest yeild so of course i got all the paid advertisement stuff or whatever that is exactly what i was looking for, I live in Shreveport and as soon as I get the check I am waiting for, I will be driving to Dallas to open an account with Northstar!!
@arthur – Not sure why they reduced the unlimited category-but I corrected that info in the post. PerkStreet still offers 2% cash back at several popular retailers including Walmart and Amazon.com–plus 5% PowerPerks at rotating monthly categories and merchants, which is really strong.