One can compare high yield checking account services at their local bank or at a different branch to see the best deal for their specific needs on the right 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.
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.
Making your money work for you is a key to wealth. Bank of America has a great High Yield Checking account.
They have a list of them here http://www.moolanomy.com/1733/best-high-yield-online-checking-account-rates/
Many banks offer competitve rates for high yield checking accounts these days. You can try Bank of America, Wells Fargo, and also Chase bank.
Often times high yield savings accounts do not require a minimum balance. These accounts can also be set up in addition to an already existing checking account you may already have which makes it easy to transfer funds.
"This depends soley on the bank that you are looking to open a high yield checking account with. Some banks only require as little as proof of identification and being at least 18 years of age. However, some banks require minimum balances, service fees, and membership fees. It would be best to inquire at your bank of choice."
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.
U.S. Bank does not currently have any high interest savings account. The highest paying account the bank currently has is 0.85% in a money market savings account. The highest yield available at US Bank (for a savings account) is the Package Money Market Savings account with yields up to 0.85%. This account must be opened with a US Bank Silver, Gold or Platinum checking account.
There are many banks that offer a high yield savings account. The best bank that offer the best high yield savings account is Charles Schwab investment bank. They have what is called the high yield investor savings account, where there are account minimums and no monthly fees.
One limitation of a savings account is the amount of withdrawals you can make per month. Unlike a checking account, which let's you withdraw money until there are no funds left, savings accounts are restricted to 6 withdrawals per month. Another limitation is that withdrawals usually can only put into a linked checking account- you can't directly transfer funds from a low-interest savings account to a savings account with a higher yield.
Interest rates vary depending on the bank the savings account is in. For a high yield savings account, interest rates can be from 0.95-3.0% annual percentage yield.