Understanding High-Yield Checking Accounts
Free checking accounts come with many perks and one big limitation. Basic checking packages come with the convenience of debit card options, online access, and quick turnaround of deposits and withdrawals, but many bear little to no interest at all.
High-yield checking accounts offer the same benefits as free checking accounts, only with higher interest rates that sometimes go up to 3 percent. The rewards of a high-yield checking account come with conditions, though, such as keeping a minimum balance and making a certain number of debit purchases per month.
High-yield checking accounts give you the freedom to earn while you spend. But not all banks offer such lucrative checking accounts. They’re not impossible to find, but if they were commonplace, you’d probably already have one. GOBankingRates rounds up the best high-yield checking accounts from banks across the nation so you can get the best rates.