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Author: culcha Big gold star, 5000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 24271  
Subject: Re: better than 2.5%? Date: 5/4/2012 10:32 AM
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I think culcha is talking about what are often called rewards checking accounts. They pay a higher rate in exchange for jumping through some hoops. The accounts often have relatively low maximum deposits (to earn at the stated rate) and/or have requirements that are difficult to meet such as a large number of debit card transactions per month.

Basically right, a rewards checking account. U did have the hoop of having to use their debit card 10 times a month, which was not a problem for me; I did not think of this as a large number of transactions. (I know some places -- but not AmericaNetBank -- also require direct payroll deposit, but I couldn't do that because I am a teacher and so do not receive paychecks for 1/4 of the year.

Thanks for your links!

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