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"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."

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โˆ™ 2011-12-08 12:31:31
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Q: What is the purpose of high interest checking?
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Related questions

Is high interest checking bad?

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.

Do banks offer high interest return on checking accounts?

Banks typically only offer a high interest return in a savings account, not a checking account. Some banks allow unlimited transfers between savings and checking accounts, so you could get a high interest savings account and transfer money as necessary to your checking account.

What are the benefits to a high interest checking account?

Consumers who have a high interest checking account will receive more interest over time. However, this does depend on how big the deposits are and how much time has elapsed since the account is opened.

Is high interest checking good for the economy?

"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."

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.

Why do very few financial institutions offer interest checking accounts?

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.

Which Canadian banks offer high interest checking accounts?

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.

What are some benefits of a high yield checking account?

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.

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 best high interest checking accounts on the market?

Some of the best high interest checking accounts on the market right now include Consumers Credit Union in Illinois and the Jeff Davis bank in Louisiana. There is also a bank for former Boeing employees that offer this service in Washington state.

Do you know if banks will still give high interest rates on savings accounts compared to a regular checking account?

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.

What is the difference between a checking and savings account in terms of interest rates?

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 often.

Does Emigrant Direct offer checking accounts?

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.

What is good about interest-Bearing checking account?

An interest-bearing checking account draws interest on the principal balance. Interest is money that accrues annually or semi-annually and accumulates in the interest-bearing account.

Where can I find a nationally available online checking account that offers interest payments?

They have a list of them here

Which has a higher interest rate checking or saving?

Savings account has a higher interest rate than a checking account

Does checking accounts pay interest?

No. Checking accounts do not pay any interest. Since the money available in your checking account is liquid cash which is used for day to day purposes and can be withdrawn multiple times banks do not offer interest on cash maintained in a checking account.

Can a corporation earn interest on a checking account?

Yes - if the bank is giving an interest on the checking account. But, banks usually pay very little or 0% interest for checking accounts because of the frequent transactions and the liquid nature of the money in it.

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.

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.

What bank accounts are offered at the Royal Bank of Scotland?

The Royal Bank of Scotland offers the two main types of accounts commonly referred to- the checking account and savings account. They also offer high interest checking and saving, and joint checking and savings accounts.

Where might one find a high interest checking account?

Credit unions, such as Lockheed Georgia Employee Community credit union, offer high rate checking accounts. These accounts offer high interests rates as long as you follow a few prerequisites, such as using online bill pay and a debit card regularly.

Does Chase bank have free checking accounts?

Chase Bank does have free checking as long as you have a minimum balance of 100 dollars. there are also interest bearing checking accounts were if you maintain a balance of at least 1500 dollars your account will receive interest on your checking account.

What is the purpose of checking acid value of lubricant oil?

The purpose of checking the acid value of the lubricant oil is that it determines the efficiency.