Finding achecking accountthat pays a decent amount of interest is a challenging process.
According to the FDIC, theaverage rateis just .04%.
If you keep about $10,000 in your account, thats only $4 per year!
Paying 3% annual interest and higher, these might be the best checking accounts around.
Kasasa is not a bank, but a financial services brand owned byBancVue.
They created Kasasa accounts to help community banks and credit unions compete against the big banks.
The basic idea isprovide consumers with free checking and other servicesandpay higher interest rates than the big banks.
The Fine Print
Of course, there are some catches (arent there always?
), so these accounts dont work for everyone.
Be signed up for e-statements (no paper statement by mail)
2.
Our team has compiled alist of creative waysyou can fatten your bank account this week.
This is a long list, so dont get overwhelmed.
Well keep it updated as offers changes or expire.
What if you dont meet the requirements?
Lets say you only did eight debit transactions one month.
Then youll go back to the higher rate as soon as you meet the requirements again.
If you find a Kasasa account through acredit unionrather than a bank, youll have to become a member.
For others you might have to live in a certain area or work for a specified employer.
Did you know?
Usually you wont even need to maintain a minimum balance to avoid fees.
In other words, you get free checking.
Kasasa has other account options as well.
Using their search box, I discovered a few near me.
Unfortunately, the best one pays only 2.5% and requires 15 debit card transactions monthly.
I dont use a debit card much my main problem with these accounts.
So why not look for 3% or better?
Dont restrict yourself to your local area.
Share your experiences below…
No Interest Til Almost 2027?
Balance Transfer = Credit Card Cheat Code
