High interest checking

[Anonymous]

Any recommendations for a high interest checking account?

[Anonymous]

Capital One has a savings rate of 3.4% for now, and they have free overdraft. Does anyone keep liquid funds in savings and move to checking as needed?

[Anonymous]

You need to look for high yield savings account op and link checking account to it.

[Anonymous]

SoFi is paying roughly 2% on checking accounts. The problem is that 2% isn't much and you can get much better rates on savings or money markets. So you keep the minimum in your checking account and the rest in your savings/money market account/s.

[Anonymous]

Amex?

[Anonymous]

I keep relatively little in checking and focus on a high yield savings account instead (Ally). That’s at 3.4 now.

[Anonymous]

Presidential Bank has a 4.25% checking acct on balances up to $25k and 3.25% on balances over $25k.

[Anonymous]

Anonymous wrote:Presidential Bank has a 4.25% checking acct on balances up to $25k and 3.25% on balances over $25k.

That's a pretty good rate, but I hate the hurdles required for "advantage" checking accounts. I like Presidential's Money Market Advantage Checking which pays 3.93% for balances over $25k and has unlimited check writing priviledged and apparently none of the silly debit card requirements.

https://www.presidential.com/Personal-Banking/Checking-Savings/Checking

[Anonymous]

Why does anyone need high yield checking? Checking is a place to move money in and out but for keeping large sums of money for extended periods?

[Anonymous]

Anonymous wrote:Why does anyone need high yield checking? Checking is a place to move money in and out but for keeping large sums of money for extended periods?

So payments don't bounce. I have all kinds of money going in and out. I could have a $15k credit card bill being paid or the mortgage payment going out. I keep enough in there to cover 1 month's expenses at any time.

[Anonymous]

Anonymous wrote:Why does anyone need high yield checking? Checking is a place to move money in and out but for keeping large sums of money for extended periods?

Because it's better than low yield checking? The trick is to find a bank with "advantage" checking that isn't overly onerous. I don't want to use my debit card at all, never the less eight times a month, to qualify for the better rate. Just not worth it.

That's why I am rather intrigued by SoFi. 2% on checking, which is only $20 per month at $10k in checking, but that's better than zero.

[Anonymous]

Not sure how long this rate will last (or if it will rise if rates continue to go up across the board), but Primis Bank recently introduced a 5% APY no-fee checking account: https://primisbank.com/primis-premium/

I also have the Presidential Bank Advantage Checking account mentioned above, but am planning to close it as the strict transaction requirements and balance limits for the higher interest rate are too burdensome to keep track of (on top of now paying less interest than Primis).

[Anonymous]

Anonymous wrote:Not sure how long this rate will last (or if it will rise if rates continue to go up across the board), but Primis Bank recently introduced a 5% APY no-fee checking account: https://primisbank.com/primis-premium/

I also have the Presidential Bank Advantage Checking account mentioned above, but am planning to close it as the strict transaction requirements and balance limits for the higher interest rate are too burdensome to keep track of (on top of now paying less interest than Primis).

Primis Bank has poor online reviews