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.