Checking Account | High Yield Saving Account - Banks offering high yield savings account

Monthly fee for using debit card on purchases and how to avoid them

October 3rd, 2011 by hysa | No Comments | Filed in Checking Account

A debit card, usually issued when a customer opens a checking account, is a convenient, widely accepted and a safe form of payment for all purchases. There is also the advantage of not going beyond your budget since, unlike a credit card, a debit card will not lead you into temptation to swipe your card even more when you go shopping.

With recent regulations, customers will now have to pay for that convenience.

Major banks have recently announced that they will be charging a monthly fee for customers who use their debit cards for purchases because of recent regulations.

For example, starting November 10, 2011, SunTrust Bank will be charging $5 monthly fee for debit card purchases. Last week, Bank of America disclosed that they too will soon charge customers $5 a month to use debit cards for purchases. The bank is said to charge the fees for both PIN and signature debit card transactions. Wells Fargo and J.P. Morgan Chase are testing a $3 monthly debit card fees.

Affected? Here is how you can avoid the monthly debit card fee:

Switch banks. There are banks that do not charge monthly fees for debit card purchases. Open an interest bearing checking account that comes with a debit card with no monthly service charge.
Pay cash. Avoid using your debit card and instead pay all your purchases in cash.
Use credit card. While banks are squeezing money out of you, credit card companies are sweetening customers with rewards for using credit cards.

Tags: debit card purchases monthly fee, monthly fee for debit card purchases, totally free checking account

Open a checking account at Sovereign Bank and receive cash bonus

September 26th, 2011 by hysa | No Comments | Filed in Checking Account

Sovereign Bank, part of the Santander Group, is offering cash bonus to those individuals interested in opening a checking package with the bank.

Here are Sovereign Bank’s checking packages:

1. Premier Checking Package with $100 cash bonus. Sovereign Bank’s premier banking includes premier checking and premier money market savings. The premier checking is an interest bearing checking account with no monthly fee if it the account has a combined deposit of $20,000. The premier money market savings offers the bank’s best money market savings rates. It package comes with a Debit MasterCard and a chance to earn up to 20% in Sovereign Cash Rewards.

2. Preferred Checking Package with $75 cash bonus. Sovereign’s Preferred Banking includes a Preferred Checking, an interest bearing checking account with no monthly fee with direct deposit or qualifying balances, otherwise $15. It also includes Preferred Money Market Savings which offers special money market savings rates and has no monthly fee and no minimum balance with Sovereign’s Preferred Checking Account. The package comes with a Debit MasterCard and a chance to earn up to 20% in cash rewards.

3. Classic Checking Package with $50 cash bonus. Sovereign Bank’s Classic Checking has a low minimum balance requirement with no monthly fee if you have $500 average daily balance, otherwise you pay $5. The classic checking package also includes classic savings with competitive rates.

To get the cash bonus, you need to do the following:

1. Open a checking package of your choice as above indicated by September 30, 2011;

2. Make five (5) debit card purchases by November 30, 2011; and

3. Get your cash bonus by December 15, 2011.

Tags: cash bonus, classic checking, interest bearing checking account, preferred checking, premier checking, Sovereign Bank

Banks offering a totally free checking account

September 20th, 2011 by hysa | No Comments | Filed in Checking Account

Because of current economic conditions, some banks are informing account holders of upcoming changes in their checking accounts. For example, a free checking account may be discontinued and become an everyday checking account that may charge you a monthly service fee.

If you do not want to pay a fee for keeping a checking account, there are still many banks out there that offer a totally free checking account, a high yield free checking account with no monthly fee and an interest bearing checking account with no service charge. Here are a few:

1. M&T Bank. The bank offers a totally free checking account called MyChoice Checking account and when you add a direct deposit into the account you receive a $100 cash bonus. There is no monthly charge and no minimum balance with Free M&T online banking.

2. State Bank and Trust. The bank offers a totally free business checking with no minimum balance and no monthly service charge. The checking account is primarily for businesses in Middle GA and Metro Atlanta.

3. Citizens Bank, based in Aztec, New Mexico, offers a totally free checking account with a Free Gift. If you are 50 and over, your totally free checking account comes with interest called by the bank as 50+ Free Interest Checking. Only offered for personal accounts and a minimum deposit of $50 is required.

4. F&M Bank, with locations in Sacramento, Stockton and Modesto, California, offers a totally free checking account. The free checking account has no maintenance fees and no minimum balance requirements.

5. Capital One. The bank is offering a high yield free checking account. By free means there is no monthly service fee. However, this checking account requires a minimum opening deposit of $500 and a combined account balance of $5,000 to enjoy the benefits. These benefits include the chance of earning a competitive interest on your checking account, free ATMs, free checks, free online banking, free online statements, unlimited check writing and no currency exchange fees on debit cards.

6. Cardinal Bank. The bank offers a totally free checking account that has no minimum balance requirement, no monthly maintenance fee, no fee for using a non-Cardinal ATM and an unlimited check writing.

7. Oneida Savings, a full-service stock savings bank serving the Central New York area since 1866, is offering a Totally Free Checking with a Free Gift and Cash. Oneida Savings totally free checking account has no monthly service charge, no per check fees and no minimum monthly balance requirements. You will get a Free Gift when you open an account and a cash of $15 for your unused checks plus $1o for your check card.

8. Charter Bank. The bank’s totally free checking account comes with a free gift. The bank’s refer-a-friend program will entitle you and your friend to receive a gift when the friend you referred to opens a checking account with the bank. All you need to do is ask for a tell-a-friend coupon at a local branch of Charter Bank and give it to your friend. When your friend opens a new checking account, the bank will validate the coupon and mail it back to you. To claim the gift, you will need to visit the bank again and present your validated form.

9. Community Bank and Trust offers a totally free checking account with unlimited check writing, no monthly service fee and no minimum balance requirement.

10. Hyperion Bank located in Philadelphia. The bank’s totally free checking account has no minimums and no fees with free online banking and free bill pay.

Tags: high yield checking account, interest bearing checking account, totally free checking account

High Yield Checking Account September 2011

September 17th, 2011 by hysa | No Comments | Filed in Checking Account

While checking account rates are falling, there are still banks that offer high yield checking accounts. Opening a checking account takes effort, but that effort could be proved useless when you open a checking account that does not bear any interest. Go for an interest bearing checking account no matter how small the interest is. Most of all, it must be something that does not charge you a monthly service fee.

As an account depositor, one thing you should bear in mind is to go for a checking account that is totally free and one that gives you an interest income in some way.

Here are a few banks that offer high yield checking accounts:

1. RockLand Trust – High Yield Checking Account starts with a bonus rate of 2.00%APY on all balances over $5,000. Includes free check with complimentary safe deposit box.

2. AmegyBank of Texas – Smart Yield Checking at 1.50%APY on balances of up to $25,000. No fees and unlimited transactions.

3. bankofinternet.com Rewards Checking – 1.25%APY, $100 minimum to open and no monthly fee

(more…)

Tags: high yield checking accounts

Interest bearing checking accounts September 2011

September 13th, 2011 by hysa | No Comments | Filed in Checking Account

If you have a checking account what type of checking account would you prefer to have? A totally free checking account with no interest, a checking account with monthly service fee and no interest or an interest bearing checking account?

Perhaps you would think that an interest bearing checking account is better because it is. An interest bearing checking account earns you an interest on your deposits. There are banks that offer this type of account. Following are some of the banks that offer interest bearing checking accounts. Corresponding interest rates are provided for convenience, but suggests to check with the bank before account opening for updates.

(more…)

Tags: interest bearing checking account

Monthly fee for using debit card on purchases and how to avoid them

Open a checking account at Sovereign Bank and receive cash bonus

Banks offering a totally free checking account

High Yield Checking Account September 2011

Interest bearing checking accounts September 2011

Recommended Links

Sponsor

Recent Posts

Sponsor