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Hi,

I'm currently checking with Wells Fargo, but I am looking to get a checking that pays more interest, but doesn't tag me with a lot of fees. I'm currently looking at NetBank. Does anyone have any better recommendations? I've seen a lot of talk about ING, but it doesn't same that that is even an option right now.

Thanks,

Matt
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a lot depend on what you're looking for. Do you want free bill pay, atm reimbursements, ability to transfer money ACH to another account?

Good banks to check out are www.pcbanker.com www.firstib.com www.bankofinternet.com www.stonebridgebank.com www.bankofamerica.com

for starters.

silverwing
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mattypattyfp,

There are several banks that operate solely over the internet much like NetBank that are offering better deals.

Unfortunately, for you, the only one I have done business with is First Internet Bank of Indiana https://www.firstib.com

Maybe not so unfortunate -- I've been a satisfied customer since 1999!

If anyone else has a favorite bank for these folks, chime-in...

:-)

SouthJerseyJim
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FirstIB is my favorite as well!

Joe
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Charter One seems to have a checking account with 3% interest (until 12/18/02 at least) but the minimum daily balance is $2500. I personally use a non-interest bearing checking account at Bank of America which is free with a direct deposite per month. No minimum either. The rest of my money sits in an ING account.
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I'm currently checking with Wells Fargo, but I am looking to get a checking that pays more interest, but doesn't tag me with a lot of fees.

Same here. Wells Fargo pays no more than 0.10% on checking even if you tie up $10,000 as I imagine you know.

http://www.wellsfargo.com/per/checking_savings/checkrates.jhtml

Recently my payroll checks started coming in the DBA name of my sole proprietorship. Wells Fargo would not deposit them in my personal account, even with the government's bank copy of the DBA form in hand. They wanted to 1) open a business checking account before they would cash my payroll checks, 2) pull a credit report to do this. About the same time, I received a check signed over to me for an inheritance. Wells Fargo wouldn't cash it.

I called the Bank of Internet USA. They 1) accepted my DBA checks, 2) did not pull a credit report, and 3) cashed the check signed over to me. I'm over fifty and earn 2.66% and 2.72% there on Boomer and Senior checking. The downside is that BofI rates fluctuate a lot. Nonetheless, I am happy with them.

http://www.bankofinternet.com/

If you are under 40, in some states Washington Mutual has a Platinum Checking account that pays as much or more than BofI. Thanks to someone at TMF for this link.

http://www.wamu.com/servlet/wamu/public/eng/pages/accounts/checking/platinum.html

Good luck.
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Wow, thanks for the great response, y'all! That was very helpful!

Matt
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Guys,

Good links! Thanks!

Also, as I can be critical (and sometimes supportive) of Bricks-and-Mortar banks, I'll go-ahead and chirp for a minute on the subject...

As part of the fallout of lower interest rates nationwide, I have publicly said that the "big interest" deals at banks are a thing of the past. And, even the biggest deals currently offered will buy the average depositor little more than a fast-food combo meal.

Now, where the B&M's come-in, anyone offering less than 1 percent (and there's a lot of big names doing just that!) -- that comes-out to about 42 cents a month on a $1,000 deposit!

Best to focus on other money-saving services like free bill pay (which for many would be a $5.00 savings a moth) and foreign ATM access (which could be another $6.00 pocketed). Also, outstanding customer service should be taken into consideration, as well...

SJJ
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Check out Umbrealla Bank also. I have been with them for 2 years with no problems. Free bill paying also. I believe they have up to a 2.35% on their accounts.
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SJJ: Sadly, I agree with you that at today's super-low interest rates, "even the biggest deals currently offered will buy the average depositor little more than a fast-food combo meal".

Most of us will be better off looking for lowest-possible fees and best possible from our banks than focusing on savings/checking interest rates. Banks vary widely in their charges for foreign ATM usage (the going rate among B&Ms seems to be around $2 a pop PLUS a typical noncustomer surcharge of around $2), this is where branchless OLBs generally offer the best value by absorbing all the foreign-ATM fees plus providing some surcharge rebates.
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