High interest checking is an incredible deal. Not a lot of banks are offering high interest checking anymore, especially with the economy in the shape it is in. Even the rates of back CD have dropped dramatically over the last several years.
"A high interst checking account is a type of checking account that earns interest. Usually these accounts have higher interest than a regular checking account, but not as high as a savings account."
"Yes, it is all good for the economy! Anything that involves money circulating and increasing is great for the economy. High interest checking accounts are good."
Bank of America offers a high yield checking account. They call the account an advantage with tiered interest checking account. The idea behind the account is to leave a lot of money in there for it to gain interest.
The primary reason interest checking accounts are hard to find is because of how they work. Interest checking accounts provide a mid to high interest rate on money in an account, along with the ability to write checks and transfer money. An interest checking account is a mix between an easily accessible account, which allows you to use checks and debit cards, and a high interest account, which usually doesn't allow the freedom to use checks.
Schwab Bank is one of the highest Canadian banks that offer high interest checking accounts. As of March 13, 2013, their annual percentage yield is 0.10 percent.
too easy to spend it... lack of interest..
A high yield checking account will allow you to make more interest off of your money provided that you have enough money invested to qualify for a high yield account.
The standard interest rate on an interest bearing checking account at a Chase bank is 0.01%. They have a variety of checking accounts with the same interest rate or less.
Usually, most checking accounts don't pay interest at all or if they do, a very high minimum balance is needed. Usually when it is available, savings does have more interest paid, but not a significant amount more. Because checking accounts are made to be used, interest is often lower. Savings, and variations of it, tend to be higher because it is not touched...as often.
Most savings accounts hold little to no interest rate currently. They are basically the same as a checking account. If you are looking for higher yield interest, consider purchasing a CD.
Emigrant Direct claims to offer a high interest savings account, that they can directly link with your checking account at another bank. They don't personally offer checking accounts themselves.
They have a list of them here http://www.moolanomy.com/1733/best-high-yield-online-checking-account-rates/