4% yield on checking accounts!??

Discussion in 'Wall St. News' started by marketsurfer, Feb 12, 2013.

  1. This seems too good to be true....


    Any insight?

  2. zdreg


    call individual banks
  3. CT10Gov


    It's really hard to figure out what they are doing... but I *think* they impose a maximum amount you can have in that checking acct and move excess into a 'savings acct' with a much lower interest rate.

    So, in other words, too good to be true.
  4. Bob111


    don;t know about these guys,but i'm getting about 2.4 APR on money market account at royal bank of Missouri. (what a name,huh). it's old ,legit bank.
    but yeah-amount of money is limited to 25K and you have to use their debit card.
    1% apr is more common today. but 4? doubt it or there is some ridiculous requirements and probably size is limited to 10K
  5. Bob111


    surf-the problem is(as been noted above) are requirements and size of the accounts. you can find plenty of small banks,but account will be limited to 10-20K and in 99% -you have to physically go to the bank and\or have to be resident of particular state or even county.same for unions. yes,there is some good rates,but you have to be a member of the union. go to http://www.bankaholic.com/

    it's all there. click on this kasasa and enter your zip to see it yourself
    this kasasa service was around for years,there is nothing new about it. "free" is quoted for a reason
  6. Tsing Tao

    Tsing Tao

    Florida Central Credit Union had the same thing, also limited. Was 4.25% if you also had a loan with them (and used their debit card, etc). They dropped that recently to 2.75%. Still, I wanted to move it from Bank of America, and this was the best option.
  7. Bob111


    BAC sucks in any possible way. specially for personal account.no matter where you go-you will be better off:)
    small local banks really appreciate their customers . i'm personally enjoyed their "old fashion" way. they know their customers by their names,no one would charge you for a check book.if there is ever any fees pops up-they would take care of it,no questions asked.
  8. lindq


    But will they give you a toaster for opening an account?

    Ah...them were the days.
    #10     Feb 27, 2013