High yield savings/money market

This is the deal breaker for me. Too much work.

I can't even remember the last time I used my debit card to make a purchase, it all goes on credit cards for the various rewards and then gets paid off each month.

I earn interest on my checking account at my credit union. The highest % is on the first $500 and then it goes down for the rest, but it still makes a decent amount especially when most don't offer anything. I like the idea of a higher rate on it, but I'm also quite happy where I'm at and also don't want to have to remember to do 10 small debit transactions each month.
 
Not sure if you are still looking but I used to work at a community bank ( now I am a mom) and we offered a free checking account that was paying 2.5% on balances up to 25k.

i opened a bunch of these accounts and it was really popular & only something offered by community banks.

Its called a kasasa checking account and to “earn” the high interest rate on your checking you’d have to do 3 things:
1- sign up for online banking and log in once a month/cycle
(Some banks make you get a direct deposit, ours did not)
2- use your debit card 10x a cycle for any amount /debit transaction
3- get e-statements instead of paper

i highly suggest looking this up to see if it is offered at a local community bank near you !
Haha 😆 not trying to sound sales- pitchy but I love this kasasa checking !

https://www.kasasa.com/

this is the website to see if a bank near you offers it

My mom lives in a small town and banks at at community bank. She has a couple of these accounts. She loves earning the interest.
 
Unfortunately the interest rates keep going down and down so these Kasasa accounts will probably become more popular while they list. I agree with an earlier poster though that it is a deal breaker to have to do 10 card transactions per month when using a CC will always make more sense.
 
Yeah, I would have a tough time with 10 transactions a month. I use credit cards for the points. But, my DD25 does everything by debit card, she'd be fine. She has an app on her phone that tracks her balance. Maybe I'm just an old fogie.
 


Yeah, I would have a tough time with 10 transactions a month. I use credit cards for the points. But, my DD25 does everything by debit card, she'd be fine. She has an app on her phone that tracks her balance. Maybe I'm just an old fogie.
My credit union checking used to be like this. I would just do 10 very small transactions. It wasn't a big deal. They have sinced changed it to at least $250 in debit transactions. I like the 10 transactions better.
 
I started out last year with 1.5% at Ally on a savings account ( I think, or close to it), and 1% at my community bank on my checking account.

Now at this moment in time Ally dropped all the way to .5% and my local community bank is up to 1.25%. It is also a Kasasa checking account but I never get the bonus because I don't use a debit card, but the interest rate is still now competitive with other high yield online banks.
 



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