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Old 04-02-2018, 07:19 AM
91 posts, read 29,640 times
Reputation: 171


Originally Posted by 2sleepy View Post
I didn't go to an online bank, my local credit union offers 2.2% interest on checking accounts: https://www.sactocu.org/Personal/Acc...erest-Checking

Anyone looking for interest bearing checking accounts would do well to check their local credit unions.
I suppose it makes sense for some. I would never choose my banking institution solely based on interest rate on a checking account because I simply don't keep enough in bank accounts for it to make a big difference. I prefer the access and capabilities of the larger banks. To grow my funds, I use investment vehicles.
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Old 04-02-2018, 07:25 AM
91 posts, read 29,640 times
Reputation: 171
Originally Posted by redguard57 View Post
My emergency fund (6 months expenses) is 25k. I want that in an interest-bearing account I can access easily and no penalties. The difference between .10 or .30 and 1.75 or 2.0 is several hundred.

You can set up external transfers with your in-town bank, money's available in 3 business days.
Fair enough. Personally, "emergency fund" and "3-business days for access" don't jive. Plus, a lot of people seem to use online banks as their ONLY bank. For those individuals, by the time they've paid third parties for services they could get for free at a local bank, they've eaten into a lot of their profit.
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