Posted by Chuck on February 11, 2016
Savings Accounts high interest savings

Published on February 11th, 2016 | by Chuck

178

Best High Interest Savings Accounts – Up To 5% with Rewards Accounts & 1.25% with Basic Accounts

One of the topics we cover here on DoC is high-interest savings accounts, and lots of readers ask about which one of the many options they should choose. In this post, we’ll try to keep an updated list of high-yield savings accounts available, and we’ll break down which accounts to get first.

High-Interest Savings Accounts

There are standard high-interest savings accounts that don’t come with limits or strings attached, and then there are ultra high yield options that are more involved and take time and patience to deal with. We’ll talk about both options in this post.

Bear in mind, all of the better alternatives have velocity limits, whether it’s $5k or $10k or $20k. You’ll never be netting more than $1,000 in annual interest from any of these accounts, and it’s usually much less than that.

For someone who is impatient or who finds it difficult to deal with multiple accounts or who doesn’t have any spare time, your best bet is to use the standard high-interest savings account options and forget about all of these velocity-limited accounts.

dollar bills high interest savings

Basic High-Interest Options

Leaving money in a regular bank account will usually get you a terrible interest rate; currently, it’s close to 0%. With a little research, you can find accounts that offer competitive rates. These are all ordinary savings accounts and are FDIC insured up to $250,000. They do not have any requirements to earn these rates.

Here are some of the popular options. These rates will fluctuate over time.

Mega High-Interest Options – Nationwide

Let’s start with a list of all the mega high-interest options:

Mega High-Interest Options -Regional

Which Account to Open First

There’s no clear-cut answer as to which order you should be opening these account as each one has advantages and disadvantages. Here is a plausible order that makes sense to me based on the details of these accounts. (This plan is for the nationwide options; check out if there are better regional options in your area as well.)

Insight Card – 5% (Link)

The Insight Card is probably the easiest option, it offers 5% APY on up to $5,000, paid out quarterly. Just be careful to avoid the 90-day inactivity fee of $3.95.

Northpointe – 5% (Link)

Next up would be the Northpointe account for 5% interest on $5k. This account is trickier to deal with due to the requirement of doing 15 debit card transactions totaling $500 over the course of the month. Hitting the 15-threshold is doable (e.g. 50¢ Amazon gift cards); the $500 requirement is tougher for many.

Remember also to enroll in e-statements and to have $100 withdrawal or deposit to trigger the 5% rate.

There’s also a $50 signup bonus on this account, details here.

Mango Account – 6% (Link)

Mango has the highest APY of 6%, but it comes with a $3 monthly fee which lowers its overall value to pretty close to Insight and Northpointe.

Mango now requires an $800 ACH transferred to the account each month. You also can’t ACH the money out, and you’ll have to spend it down using the debit card.

Some people might prefer to skip Northpointe and Mango, and jump straight to Consumer’s Credit Union.

Consumer’s Credit Union – 4.59% (Link)

The Consumer’s account offers 4.59% on up to $20k. It does have some hoops to jump, though:

  • A hard Equifax pull for opening the checking account, and another hard pull (looks like a Transunion pull) for opening the credit card. Credit card is necessary to get 4.59% rate.
  • Put $1k per month on a Consumer’s credit card. If we assume you’d have earned 2% back on your regular credit card and you get 1% back with Consumer’s, you’ll end up losing $10 per month by doing this deal. (It’s not quite so bad since you can put $6k at the grocery and earn 3% back on that.)
  • Do 12 debit transactions (e.g. buy twelve 50¢ Amazon gift cards).
  • Remember to enroll in e-documents, do one bill pay per month, and access online banking once per month.

This Consumer’s account is better than the 5% accounts mentioned above in a big way since you can get a high-interest rate on $20k with a single account. Someone who has $20k to put in savings may prefer starting with this account versus the other accounts that have a $5k limit.

One American Bank – 3.5% (Link)

With One American you can get a 3.5% rate on up to $10k. Here are the drawbacks:

  • Unknown if there is a hard pull for opening (one tentative data point indicates that it’s soft)
  • 12 debit card purchases per month
  • Remember to enroll in e-statements, and to login to online banking once per month

Lake Michigan Credit Union – 3% (Link)

Next up is LMCU, which gets the same 3% rate on up to $15k. The drawbacks here are as follows:

  • Transunion hard pull
  • Monthly direct deposit, any amount (ACH should work)
  • Ten debit card purchases per month
  • Remember to signup for e-statements and also to login to online banking four times per month

Great Lakes Credit Union – 3% (Link)

Get a 3% rate from Great Lakes on up to $10k. Here are the drawbacks:

  • Hard pull to open
  • Requires monthly $500 direct deposit to get the 3% rate (ACH should work)
  • Requires ten debit purchases per month, debit purchases must total $100, debit purchases need to be without a PIN

Main Street Bank – 2.25% (Link)

Main Street offers just a 2.25% rate on up to $25,000.

Drawbacks:

  • 12 debit card purchases
  • 1 bill pay, ACH, or direct deposit
  • You need to keep the account appearing like an ordinary checking account with deposits, withdrawals, etc

If not for this last requirement of keeping the account looking ordinary, this one would have been higher on the list since it allows up to $25k, a huge plus.

Netspend Accounts – 5% (Link)

Each Netspend account can get 5% APY on up to $1,000 (it used to be up to $5,000 but that’s changed). Since it has such a low limit, it’s probably not worth mentioning it. We’re keeping it here mainly because many of us already have this account set up and some will decide to keep $1,000 in the account for the 5% rate.

Drawbacks:

Memory Bank – 1.5% (Link)

Memory Bank offers a 1.5% APY interest rate for the first year on balances up to $250,000.

I’m putting this one last since it’s only valid for one year and mainly worthwhile for someone with very high cash reserves, but for the right person this might actually deserves to be first.

Drawbacks:

  • Five debit card transactions
  • Monthly ACH transfer to the account
  • Rate only valid for one year

Final Tally

In the end, someone who wants to have a lot of liquid funds can get pretty good interest rates if they are willing to juggle many accounts and requirements.

Not all of these accounts are incredible deals due to the limits and requirements. Some people will find one easier than another depending on how easy it is for you to do debit card purchases, direct deposits, etc.

We also did a write up to calculate what you’ll actually net dollar-for-dollar by getting each of these high-yield accounts instead of putting it in a regular 1% savings account, see High-Yield Savings Accounts: Profit per Account for more details. The amounts range from $580 at the top to $39 at the bottom.



178 Responses to Best High Interest Savings Accounts – Up To 5% with Rewards Accounts & 1.25% with Basic Accounts

  1. WUFinance says:

    GE Capital Bank offers 1.05% with no cap, no other requirements and the online portal looks a little more modern than Synchrony.

  2. Robin says:

    I have found amazon reloads and even paypal purchases on ebay were not counting on my consumers credit union as purchases.

  3. Owen says:

    So a total of $3800 available per year, nationwide, $4080 for Michigan residents and $4200 to Missouri residents.

    There’s one more out there, it may be Michigan only as well but I’m not certain, Option 1 Credit Union, 4% on $10k, they require direct deposit and 20 debits a month. Good for another $400 a year.

    But… To get that ~$4k you sure have to put in some time to make sure to cover all the requirements. I think the biggest stumbling blocks are the $1k/month from consumers as well as their two hard pulls, plus 1 more from LMCU.

    All in all though it’s a fantastic way to make ~$333 a month, and all mostly risk-free (no ups and downs of the market involved. That’s $90k making 4.2% interest (for just the nationwide offers).

    Now I just need to find $90k+ somewhere to do this, lol.

    • There are more high interest checking accounts than this, we’ll feature some more in the future.

    • sam says:

      what? which bank? $90k can make you $333 a month? where? thanks!

      • sam says:

        I got it! First, many banks with high APY are gone!Second, you will become crazy to maintain all the requirements (direct deposits, debits transactions, bill payments ETC.) I think even $333 a month doesn’t worth it! You will lose money with Opportunity cost on spending with debit transactions also (for example spend $1 get 2 points back = 0.02% = 2% CASH BACK on credit card)! Plus money which you could gain if you put $90,000 in good saving/money market account with 1.25% APY a year!!!! – that’s $1125 a year!!!

  4. Fiby says:

    Typo for CCU:
    “This Consumer’s account is better than the 5% accounts mentioned above in a big way since you can get a high-interest rate on $20 with a single account.”

    $20k.

  5. Catapult says:

    When time comes to take out that $5000 from these prepaid card linked savings accounts – how do I do that? No amount of reading / research seems to clarify that

    • Chuck says:

      We’ve written about this. One reader had an issue when ACHing out large amounts to a bank. ACHing out to pay a credit card should be fine. Others have not had an issue ACHing out to a bank either.

  6. Bob says:

    I would like to ask a few Mint users to ask them to add Western Union.

    I have done this a few times with no effect.

    A few requests from others might do the trick.

    Thanks.

  7. Elan says:

    I am surprised Everbank is not on the list of basic options. Their high yield checking has 1.60% APY on up to $100,000, and a money market with 1.60% APY on up to $150,000. Although technically it is only for the first 6 months, when my 6 months were almost up, I called and they allowed me to open a second money market account for another 6 months with the bonus rate. Note the opening deposit of $2,000 had to be “new money” from outside Everbank (ie mail them a check). https://www.everbank.com/banking/rates

    • Owen says:

      I think the problem with Everbank is, that while higher than savings accounts, I think with that much money I’d be targeting my IRA and 401K vs getting a return of 1.6% on that much money. The return on that $100k is alright, but it locks up an awful lot of money.

      • Elan says:

        Doesn’t lock up anything. It’s not a CD. I use it as my everyday checking account. S&P 500 down 10% in the last year. I’ll take 1.6% all day long

        • Owen says:

          I could put it in LMCU at $15K for $450 a year or to get the same out of Everbank I’d have to put in $28,125.

          In that sense you have to keep a LOT more money in there to get the same return, essentially “locking” it up, sure it’s available for emergencies. But wow.

          Let’s move on to Consumers $20k is worth $918 a year, sure there are some opportunity costs there to maintain the interest rates. But still, I’d have to put $57,375 into Everbank to rival that return.

          Now consider stacking 2 or 3 of the above and Everbank is looking more and more like a slightly better alternative to a savings account. With above accounts I’d have less money tied up than I would in one Everbank account.

          Sure 1.6% is better than nothing, and to some people not dealing with multiple accounts is very appealing. So, if you are the type of person to regularly have $60k in their checking AND you are the type that wants a hassle free return, Everbank is your bank.

          Sure, the S&P 500 is down, but I’m in my late 20’s, it’ll recover.

          • Elan says:

            I agree, except on your final point about what type of person should use Everbank. It’s not all or nothing; you can have a mix of these accounts. I consider Everbank to be a basic option, an easy 1.6% on as little as $1 and up to $250k. The “mega high interest” accounts like LMCU and Consumers require a lot of maintenance, not to mention opportunity cost of losing cash back and min spend on all those debit card transactions, and the risk of missing the requirements one month. Personally I’d max out the Netspend accounts first as Chuck suggests, which just require one quarterly ACH to avoid the inactivity fee, and then use Everbank as your basic everyday account. 1.6% is better than the 1% on most of the other basic options.

    • Problem is you’re probably burning a ChexSystems inquiry every time you open a new account. I’ve added Everbank to the post anyway.

    • Eric says:

      When you wrote a “second money market account” did you mean it was your 2nd “money market” account or that it was your 2nd account (1st was “high yield checking”)? If it was the former what would stop someone from adding another account every 6 months and maintaining that (relatively) high interest rate? I emailed Everbank a few months ago and never received a response which turned me off. Have they had good CS in your opinion?

      • Elan says:

        I meant second money market account. I had a checking and money market both earning 1.4% (the bonus rate at the time). After about 5 months, I called customer service to ask them to bump me up to the new promo rate of 1.6% for the last month, and instead they told me I could open a second money market account and earn the 1.6% bonus rate for another 6 months. No idea if it would work a third time, but that’s what I’m hoping for. Their CS is better than most IMO; for example Discover charged me a fee related to a withdrawal from Everbank that got processed twice, and Everbank credited my account for the fee that Discovered charged me.

    • Victor says:

      Update on Everbank: 6-month intro APY of 1.60% no longer offered; its been replaced by 1.11% APY for the first 12 months, then drops to standard rate (currently 0.61%). Makes the account less attractive, considering there are plenty of 1.00% options out there with no time limit.

  8. Evan says:

    DoC, out of curiosity, how many such accounts do you have and how easy is it for you to keep up?

  9. mike says:

    Hi Thanks for the detailed info. very helpful. one Question though. what to do with all that Amazon gift card if I purchase 15 or 10 fifty dollars amazon gift cards monthly to satisfied the requirements. that amounts to thousands of dollars of amazon gift cards monthly. any way to get rid of them beside spending them. Thanks

  10. John says:

    Am I correct in understanding that as of 1/22/16 NEW INITIAL opening/funding of NetSpend accounts must be with a true direct deposit and not an ACH transfer (previously opened accounts excluded)?

    Does that also apply to Brinks & NetSpend/H-E-B since they are backed by Bofl?

    Also does that apply to PayPal prepaid since it’s backed by Bancorp?

    And, lastly, is it possible to get a 2nd Mango account? Thank you all so much.

  11. Gina J says:

    I’ve had the bulk of my savings parked at SFGI Direct (affiliated with Summit Community Bank somewhere in the midwest) for several years. Current APY is 1.06%. I don’t think there’s any limit on the deposit amount accruing interest.

  12. SteveinPhilly says:

    To me it’s a no brainer. EVerbank is paying 1.60% (highesty anywhere) for the first 6 month of their Savings account. Then it drops (as interest rates will probably go up) but then you look for another place. Meanwehile you get 1.60% FDIC insured. Max is $150,000

  13. Kevin says:

    Can anyone give me a really dumbed down, child’s version explanation of how the NetSpend account works? I’m interested in setting one up for the 5% interest, but I’m getting bogged down in confusion as to (1) fees, (2) general setup, and (3) limitations on ACH transfers/liquidity. All these factors are making me fearful of moving any emergency savings into a NetSpend account.

    (1) Fees – I’m super confused about the fee structure. I read that there are fees for simply using the card and inactivity fees. Does anyone have a simple list of what fees the netspend account has? The important things that matter are fees for using the card, fees for paying bills with the card, and fees for doing transfers into and out of the card.

    (2) General setup – Am I right that you only need to open a NetSpend prepaid card, and then you automatically get a 5% interest savings account with it? And then, if I am correct, you transfer money to the netspend card, then transfer the money to the savings account?

    (3) Limitations on ACH Transfers/Liquidity – This is a big concern if I’m reading this right. My plan was to link my Capital One 360 savings account to the NetSpend card, and then move money onto it. From there, I would then move money back to Capital One 360 savings in the event something were to happen. Am I right that some people are saying that NetSpend won’t let you move money back to your bank account? If forced to pay credit card bills using NetSpend, am I going to get charged a fee just for paying bills with the card?

    Sorry for the long post, but I’ve spent hours reading up on NetSpend and while there’s some decent info out there, the information is confusing enough to discourage me from even considering using NetSpend.

  14. Steve says:

    I looked at the “subject” like here which was about “Savings Accounts” (which I assumed was banks. Seems the postings are not in line with subject. There should probably ne a new one about Net Spend – and those interested in it will find the info they need.
    I did post what I think is the answer to the posters question – unless yiou can find an EASY 1/60% on FDIC insured “BANK SAVINGS Account” elsewhere. Minimum is $1500; max $150,000. Not one finance article has mentioned this. They push Ally which I have a few $ in but they are only at 1.01%

    I’m going to unsubscrive from this thread as it’s changed direction.

  15. calwatch says:

    If inflation gets higher, I-Bonds are also an option for higher earnings with little risk to principal. I max out the $10k every year.

    There’s also the Paypal savings account, which has the benefit of being able to be funded with PP Cash bought at drugstores, although I have not really explored that angle and everyone is rightly concerned about Paypal shutdowns – although would that be the case if you were putting money into an account and not taking it out? $4.95 fee means it goes at the end of the list.

  16. BeeHappy says:

    I just opened a Netspend prepaid card/account two weeks ago ( around 2/10/2016) . I did ACH transfer from Capital one 360 and then move $2,000 into its savings account. Does it qualify for 5% interest? or has it thu payroll direct deposit? I was not able to get any answer from their customer service. per your website, it seems that we have to do payroll direct deposit after 1/23/2016 to earn the 5% interest in savings account. But since the savings account is available for me when I log in, does it mean I am qualified for the 5% interest? I don’t want to wait 3 month to find out if the interest has been posted. Thank you!

  17. Dirk says:

    i only get mails thru my PO Box (USPS). there’s no field for a separate mailing address when applying for these cards. how should i proceed??? am i SOL? or..sign up and call right away to give them my mailing PO box? do you guys think that would work?

    • Chuck says:

      I don’t know if you can sign up with a POB address.

      • Dirk says:

        i see. i tried anyways. i cheated though. I added my POB next to my physical. we’ll see in a week if i get the mail. *fingers crossed*

        btw can you add Main Street Bank (MI)? or any opinion about them? $25k @2.25% seems pretty good to me.

        • Justin says:

          Not sure if you’ll see this because it’s old, but I use a P.O. Box, and the work-around (surprised no one at the Post Office ever told you this…) is to use the physical address of the post office, followed by “Suite XXXXX” for your box number. That’s how I get UPS and FedEx delieveries.

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  20. JT says:

    Nicolet Bank offers 3% APY on its Real Rewards Checking account:
    https://www.nicoletbank.com/personal-banking/checking-products/real-rewards-checking/

    ACH direct deposits and REDCard work. Thanks.

  21. Ken says:

    Anyone else get an error for Netspend that they’ve already ordered a card when they haven’t?

    • Chuck says:

      You never ordered any? Usually, those emails come if you ordered one brand (i.e. Brinks) and then within 24-hours you try ordering another (i.e. Netspend).

      • Ken says:

        It was a message when I submitted my info. Looks like I have to put my unit number on the 2nd line or I will always get that error. I’ve gotten 2 NetSpend and 1 WU accounts so far and have been waiting 30+ hours between apps.

  22. LB says:

    Data point: I only had a single hard pull for opening my Consumers Credit Union account and Visa card.

  23. Tom says:

    UPDATE ON CONSUMER’S CREDIT UNION:
    Kroger transactions no longer processed as charges, even if you choose the “credit” option. They join Walmart and McDonalds who do the same, so does Amazon unless you change your account settings. For those unfamiliar, only “credit” (POS) purchases count toward the debit card transactions requirement.

  24. Ken says:

    I signed both myself and my wife up for the Ace Elite card, and both times neither of us received any kind of confirmation email. Did anyone else not receive anything from them?

  25. Ken says:

    Can I move the full $5k in a single ACH into the Netspend accounts and then move to savings to start earning the 5%?

    Following up, it doesn’t look like I’ll get the $20 referral bonus even though I’ve never had one of these cards before. That’s too bad.

    • Tom says:

      Yes, as long as the financial institution you are transferring from has a daily transfer limit that high. Withdrawal ACH’s from Netspend cards are usually limited to $1500 every 24 hours.

      As far as your follow-up, same situation with me. I have never been associated with anything connected to Netspend or affiliates and they managed to weasel their way out of paying it to me.

  26. vadim says:

    Insight link doesn’t work anymore

  27. TK says:

    GS Bank has a cap of 250k per customer.

  28. Cody says:

    Datapoint: Ally activated my Brinks Savings on 5/6/2016.

    I had worked my way to card # 4, the Brinks prepaid. I was interested to see if it truly did need a DD as the 3 Netspend cards had a seemingly “broken” savings account requirement and they could be opened immediately (Opened in March-April 2016).

    I decided to do 4 ACH tranfers and see if any counted as a direct deposit; enabling the savings. The four I planned on testing were Ally, PNC, Huntington, & Chase.

    Due to timing, the Ally hit first… and bingo! It registered as direct deposit. I just wanted to let others know that they may have luck with an ACH instead of a traditional DD to activate the Brinks savings.

  29. Harrison says:

    Are there any limitations on the number of accounts that can be signed up in a given day/week/month per individual or household? I want to say I remember reading a comment before about 1/week/household but can’t seem to find anything and am starting to question my own sanity on the matter.

    Also really appreciate the post on this. having a place to put $35k that earns approx 5% is a very attractive proposition.

    • Chuck says:

      Check out the Netspend posts – those have some limits. One per 24-hours, IIRC. Other prepaids don’t have limits. But too many new checking accounts can incur chex inquiries and can be bad.

  30. Ken says:

    Got terrible news today. All Netspend family cards will now only pay 5% interest on balanced UNDER $1,000. I just, JUST finished getting $5k to all of my Netspend accounts last week and then they pull this crap. Ughh, what a PITA.

  31. Erik says:

    Same here; got my 5K into all cards about 1 month ago. I wonder if Insight and Mango will follow suit..?

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  36. Lauren says:

    UFBDirect is down to earning just 1.00% APY for $25,000+

  37. Ken says:

    Time to pull out all funds from all 5 Netspend family accounts. Please make a new post about the best way to get all funds out as quickly as possible. I know some of these prepaid accounts have max withdrawal rules, but they don’t share them publicly. Lots of us could use this info.

    • Chuck says:

      I wrote a bit over here http://www.doctorofcredit.com/netspend-neuters-5-apy-savings-account-effective-july-1/

      I’ve been ACHing the money out without an issue. I kept it under $2k but others had success even with more.

      • John says:

        I had no prob ACHing out $4000.00 each out of 4 accounts. I figured for now, since there all set up automatically, I would leave in the $1000.00. I read in one under “Terms” that you must close out account by reducing bal to $0.00 then writing their customer service and returning card(s). I don’t want to accrue any dormant fees by just reducing ll to 0.00$ and then get a bill in the mail. Does anyone know proper way to close NetSpend acts. Also, does anyone ok if one can have more than one Insight card? Thanks all.

  38. Tomtoo says:

    $1500 max withdrawal per 24 hours via ACH pull last time I tried. Reminder…transfer funds from savings to your card before attempting any withdrawals.

    • Tomtoo says:

      Please disregard the $1500 max. Many are (ACH) pulling higher amounts now. Chuck, feel free to delete the above, I don’t want to cause confusion.

  39. Erik says:

    It was time to pull out $4K today (7/1/16), as the Savings now only pay interest on amounts up to $1K

    I had linked all my Netspend accounts (5 different types) to my bank. I simply set up five $4K ACH withdrawals for 6/30/16, which withdrew $4K from all cards on 7/1/16.

    Note that I didn’t want to loose interest for the last day, 6/30/16, so I transferred from savings to the card a few seconds after midnight on 7/1/16 (CST). The withdrawals took place a few minutes later.
    (It may not have been necessary to cut it so tight because the interest for the quarter which ended 6/30 actually posted before midnight)

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  41. sam says:

    Check this site – and its Savings and Money Market Accounts!
    https://www.depositaccounts.com/moneymarket/

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  46. Ricardo Guimaraes says:

    Capital One 360 now has a 1% money market account. They’re doing a slow rollout – found the info on FatWallet.

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  50. John says:

    I’ve enjoyed All America Bank’s MMA with 1.25% APY on up to $35,000. It’s available nationwide and was a soft pull for me. It’s my understanding it’s the same as Redneck Bank. Here’s more details: https://allamerica.bank/mega-money/. Hat-tip to Fatwallet where I discovered it: https://www.fatwallet.com/forums/finance/783099/. Thought it would be a good addition to your basic savings list above. Thanks

  51. Erik says:

    Main Street Bank: 2.25% & $50 Amazon Gift card:

    Main Street Bank offers 2.25% APY* on balances up to $25,000.
    (https://www.msbmi.com/personal/checking/kasasa-cash.html)
    Have at least 12 debit card purchases post and settle
    Be enrolled and receive eStatement notice
    Have at least 1 direct deposit, 1 automatic payment (ACH), or have 1 bill pay post and settle
    I have opened several accounts.

    Here is my referral code link (we each get a $50 Amazon gift card)
    https://share.msbmi.com/qy4y9455hlwy40604

    • Ken says:

      Erik – I don’t know if you were aware, but they will close your account if they think you’re just in it for the high interest. And it’s definitely one account per person for the higher rate.

      This account is intended to be the account holder’s primary checking account in which payroll transactions and day-to-day spending activities occur. This includes, but is not limited to: grocery, gasoline, apparel, shopping, dining, and entertainment transactions. Commensurate with the spending activities identified above, we expect the accounts debit card to be used frequently throughout each month and for transaction amounts to reflect a wide dollar range. Small debit card transactions conducted on the same day at a single merchant and/or multiple transactions made during a condensed time period particularly near the end of a Monthly Qualification Cycle are not considered normal day-to-day spending behavior. These type of transactions appear to be conducted with the sole purpose of qualifying for the accounts rewards and thus will be deemed inappropriate and transactions and will not count toward earning the account’s rewards. Main Street Bank reserves the right to determine if the account is being maintained for a purpose other than day-to-day, primary use. Account holders who persist in making debit card transactions in a calculated and limited fashion in order to meet their monthly qualifications may have their account converted to a different account or closed.

      • Erk says:

        @Ken,
        I have had no issues yet, and I have had my accounts for more than half a year (knock on wood!).

        I have had a pleasant experience with Main Street Bank.

        Definitely not as difficult as One American Bank!

  52. Erik says:

    @Chuck,
    I just posted a referral link to Main Street Bank (2.25% up to $25,000 & free $50 Amazon Gift card). It awaits moderation. I hope it is OK to post here? Is there a better place to post such referrals?

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  56. Mser says:

    Provident CU offers a 2.01% checking account up to $25K. Pretty easy requirements – a DD of some sort (I send $10/mo from another bank on repeat basis) and $300 in debit purchases (I buy a MO at beginning of month).

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  59. Yuriy G says:

    Randolph Savings Bank offering 2.75% on up to 25K Reward Checking. Requires a 2.5K monthly direct deposit, 10 debit POS transactions, and enroll in e-Statements. Also no ATM fees if you meet the requirements. The checking account is called Apex Checking. I just signed up 3 months ago and so far so good! Interest is added at end of statement period. 60 day grace period before you must meet conditions. If conditions above not met, you are charged $10 month along with .01% APY only.

    • Erik says:

      Does a monthly ACH Deposit count as Direct Deposit?

      • Yuriy G says:

        Per branch managers, yes. And per customer support, yes. However, I’m only now starting my third full month so we’ll find out for sure. I expect this to be fine though. I’ve been doing an ACH from my Ally account to qualify.

        Should mention, getting a debit card appears to require visiting a location (they print debit/ATM cards at their bank branches) so I’m guessing this limits this deal to MA only and people who are willing to go to a location.

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  61. Don L says:

    Perhaps not worth mentioning because of the $1000 cap (like Netspends), but multiple comments on the BECU [WA Only] page mention 4%.

    http://www.doctorofcredit.com/wa-becu-100-referral-checking-bonus-parties-no-direct-deposit-required/

    https://www.becu.org/everyday-banking/checking-and-savings

  62. Mike H says:

    Alden Credit Union still showing as Nationwide on this page. MA only according to the link.

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  64. Superchurn says:

    Another option for Oregon is Advantis CU. https://www.advantiscu.org/checking-and-savings/checking-accounts.html

    1.75% APY on up to $25,000 with requirements

  65. Superchurn says:

    One other interesting option for those in Oregon.

    KaiPerm CU offers 6% APY on up to $1000
    https://www.kaipermnw.org/da.php

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  68. Eileen says:

    Popular Bank has 1.15% APY for balances over $5K. https://www.populardirect.com/products/savings/high-rise-savings

  69. Eileen says:

    SFGI Direct has 1.06% APY, and I don’t think there is any upper limit. http://sfgidirect.com/

  70. Vince says:

    Are the interest you accrue from Insight taxed? They don’t say anything about providing a 1099 on their site.

  71. John Galt says:

    This seems? like a ‘good’ deal:

    CITBANK
    1.05% APY
    Bonus $15-149,999k=$100
    Approximately 120 days to get the bonus
    No account closure fees, minimum balance fees, etc.
    https://www.bankoncit.com/savenow-direct/?utm_campaign=CIT_HYSA&utm_source=bankoncit&utm_term=homepageslider&utm_medium=homepageslider&utm_content=HYSA

    Am I missing something? Anyone with experiences?

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  74. Aahz says:

    DCU is actually 5.12% on first $750

  75. Alex says:

    Chuck, may want to add https://www.purepoint.com/, 1.25% online savings, $10K min, no max

  76. John S says:

    I didn’t notice this on the site but Premier Members CU (open to all with a $5 donation) has a decent MMA, reverse tiered. First $2000 earns 3%. https://www.pmcu.org/moneymarket/

    • Good find, will do a dedicated post.

      • Premier is a good CU. I was a member for many years while in Boulder, CO. The negative is that it is restrictive on who is allowed to join. You must live or work in Boulder, Broomfield, Jefferson, Adams, or Denver Counties. Alternatively, there are a handful of companies including IBM, Medtronic, Boulder Health, and Lexmark that can join regardless of location.

        Otherwise, excellent customer service with a small town Credit Union feel. You are treated as a person not just an account number.

  77. TygerHawke says:

    I have a couple more options for the regional section – specifically Washington state:

    https://www.inspiruscu.org/ – 7.00% APY on $500 in Savings and Checking – $1000 total

    https://www.obee.com/Everyday-Banking/Savings/High-Interest-Savings – 7.52% APY on $500 in savings

  78. Steve says:

    The Honor CU one is officially 2.5% APY on up to $10k now.

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