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Oct 1, 2024 · Starling Bank 3.25% on £5,000. Since 1 October 2023, new and existing current account customers have earned 3.25% interest on deposits up to £5,000. This was increased from a measly 0.05%. Starling's current account has no monthly fee and offers fee-free spending abroad.
- Overview
- Best High-Yield Checking Accounts
- La Capitol Federal Credit Union, Choice Checking – 25% APY
- Pelican State Credit Union – 05% APY
- Credit Union of New Jersey – 00% APY
- Fitness Bank – 00% APY
- Orion Federal Credit Union – 00% APY
- Garden Savings Federal Credit Union, Platinum Rate Rewards Checking – 12% APY
- Presidential Bank, Advantage Checking – 62% APY
- Consumers Credit Union, Rewards Checking – 00% APY
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Holding enough money in a
to cover your bills and then stashing any surplus cash in a
is the traditional model for boosting the bank interest you can earn. But for those willing to regularly use a
La Capitol Federal Credit Union –
Pelican State Credit Union –
Credit Union of New Jersey –
Orion Federal Credit Union –
Garden Savings Federal Credit Union –
Signature Federal Credit Union –
With its limited balance threshold, it's best for customers who keep relatively minimal funds on hand.
Maximum balance for top APY:
6.25% APY on up to $10,000. Balances above $10,000 earn 0.72% APY.
Debit card transactions required per month:
APY if qualifications not met:
0.10% APY on full balance for that month.
Pelican's requirements are relatively easy to meet for those who regularly use a checking account.
Maximum balance for top APY:
6.05% APY on balances up to $20,000 and 0.50% APY on portion of balance greater than $20,000
Debit card transactions required per month:
One direct deposit, online bill payment, or automatic payment (ACH)
One direct deposit, online bill payment, or automatic payment (ACH)
For those who like to keep more than $10,000 in a checking account, Credit Union of New Jersey boasts the top rate.
Maximum balance for top APY:
6.00% APY on balances up to $25,000 and 0.75% APY on portion of balance greater than $25,000
Debit card transactions required per month:
At least one direct deposit, ACH credit, ACH payment, or bill pay transaction
At least one direct deposit, ACH credit, ACH payment, or bill pay transaction
Fitness-oriented banking customers willing to connect their daily activities to an app can earn a great rate at Fitness Bank.
Maximum balance for top APY:
6.00% APY on balances up to $25,000 and 0.25% APY on portion of balance greater than $25,000
Debit card transactions required per month:
Average 10,000 steps per day using the FitnessBank Step Tracker app (7,500 if 65+)
APY if qualifications not met:
Orion Federal Credit Union's requirements to earn its top rate are among easiest to meet.
Maximum balance for top APY:
6.00% APY on balances up to $10,000 and from 2.34% APY to 5.06% APY on portions of balance greater than $10,000, depending on specific balance
Debit card transactions required per month:
Spend at least $500/month on your Orion debit or credit card
APY if qualifications not met:
Direct deposit not a great option for you? Garden Savings offers one of the best APYs and a generous maximum earning balance while allowing you to qualify without establishing a direct deposit.
Maximum balance for top APY:
5.12% APY up to $15,000. Balances above that pay 0.15% APY.
Debit card transactions required per month:
One direct deposit OR one ACH deposit
Must be enrolled in e-statements.
Although this isn't the highest APY on the list, the high yield is extended to a much higher balance than with other accounts. It's also the only top-paying checking account that doesn't absolutely require debit card transactions, offering other electronic withdrawals as alternate qualifiers.
Maximum balance for top APY:
4.62% APY up to $25,000, and 3.62% APY on balances beyond $25,000.
Debit card transactions required per month:
Seven or more electronic withdrawals per month, which can be by ATM, debit card, ACH, or bill pay.
Yes, at least $500 per month.
This is the best high-APY nationwide checking account that we've found. But earning the top rate requires opening and actively using a credit card from the credit union.
Maximum balance for top APY:
Up to 4.00% on up to $10,000. Balances between $10,000.01 and $25,000 earn 0.20% APY, and balances in excess of $25,000 earn as high as 0.40% APY.
Debit card transactions required per month:
One direct deposit, ACH deposit, or mobile deposit of $500+ per month
Holding a Consumers CU Visa card and spending $1,000 on it per month. If credit card spending is at least $500 but doesn't hit $1,000, APY on the account will be 4.00% APY. If you don't have the credit card, but meet all the other requirements you get 3.00% APY.
- Sabrina Karl
Oct 7, 2024 · According to the latest FDIC data, the average APY on interest-bearing checking accounts is 0.08% as of September 16, 2024. A checking account has to earn more than that amount to be considered ...
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- Some of the best high-yield checking accounts are those with APYs between 1.00% and 5.00%. Consumers Credit Union Rewards Checking offers the highe...
- The Federal Deposit Insurance Corporation (FDIC) offers banking customers protection against bank failure. Specifically, the FDIC insures deposits...
- You can feel confident that your money is safe in a high-yield checking account. Depending on the financial institution, the Federal Deposit Insura...
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- Credit unions and online banks often pay the highest interest rates on checking accounts. To score an attractive interest rate, compare accounts at...
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Lake Michigan Credit Union Max Checking Account: 3.00% APY; $0 minimum balance. Heritage Bank eCentive Checking Account: 2.02% APY; $100 minimum opening deposit. Quontic Bank High-Interest ...
High-interest checking accounts pay significantly more interest. In fact, our market leader pays up to 9.01% APY. Keep in mind, however, that a lot of high-interest checking accounts have tiered ...
- Henry Blodget
3 days ago · Best high-yield checking accounts. Best for high APY: All America Bank ® Ultimate Rewards Checking. Best for large balances: Presidential Bank Advantage Checking. Best for direct deposits of $5K ...
People also ask
Do high interest checking accounts pay more APY?
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Where can I get a high interest checking account?
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How much does a high-interest checking account pay?
4 days ago · In today's high interest rate environment, you can reliably find high-yield checking APYs over 1%, and some financial institutions offer APYs over 4%. As of Sept. 16, 2024, the national average ...
