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Which type of checking account pays interest on the mean balance of the account during a particular cycle?
Average Balance account
What is the purpose of high interest checking?
"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."
What is the average return on a checking account?
average return on a checking account is about 0.1
What is a type of checking account that also earns interest these accounts generally have a minimum balance?
a type of checking account that also earns intrest
What is the standard interest rate on an interest bearing checking account at Chase bank?
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.
What are the disadvantages of using checking accounts?
Many checking accounts do not offer interest on the money in your savings account. This is a disadvantage because the money you put in a savings account will collect interest, where a checking account will not.
Do you paid taxes on checking account?
The only tax you would pay on money in a checking account is any interest the money made if it is a interest type of account.
Does the IRS tax you on your checking account without interest?
No. If your checking account in non interest bearing, then the you will have no interest to report on your income tax return and therefore no tax to pay.
Which has a higher interest rate checking or saving?
Generally a savings account pays more interest, but there are some checking accounts that offer rates that are very competitive to savings accounts.
Does BB and T checking account earn interest?
No, only their savings account accrues interest.
Does Bank of America offer a high yield checking account?
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.
What amount of money in a checking or a savings account upon which interest is based?
The amount of money in a checking or a savings account is the balance. The interest is usually based on the balance.
