Money Fix: Benefiting from high-yield checking accounts
A new survey found 56 high-yield checking accounts that averaged about 1.64 percent. How does a consumer get one? What's the catch? There are all sorts of requirements. Credit: Photos.com
You'd consider yourself lucky to get a checking account paying 0.50 percent interest, so for sure one that yields more than 30 times the national average of 0.05 percent and is federally insured to boot gets your attention.
Bankrate.com recently surveyed 56 high-yield checking accounts that averaged about 1.64 percent. What's the catch? There are all sorts of requirements.
Says McBride, these accounts "can produce higher yields than other cash investments, while maintaining both access to the money and the protection of the FDIC."
Out East Show: Visit The Shamrock evergreen maze, Sannino Vineyard, Seven Ponds Orchard and the Warrior Ranch Foundation NewsdayTV's Doug Geed is heading 'Out East' to showcase the ultimate local spots you need to explore.
Out East Show: Visit The Shamrock evergreen maze, Sannino Vineyard, Seven Ponds Orchard and the Warrior Ranch Foundation NewsdayTV's Doug Geed is heading 'Out East' to showcase the ultimate local spots you need to explore.
