The Motley Fool Discussion Boards

Previous Page

Financial Products & Services / Online Banking

URL:  https://boards.fool.com/i-think-culcha-is-talking-about-what-are-often-30019282.aspx

Subject:  Re: better than 2.5%? Date:  5/4/2012  10:32 AM
Author:  culcha Number:  24176 of 24361

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!

culcha
Copyright 1996-2021 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us