Are you earning a measly .25% on your checking account?  There are other options and they are EASY to qualify for. Last week I posted on the topic of rewards checking accounts.  This week, after a fair amount of research, I opened an account with Coulee Bank, that is earning over 4% interest.  Not bad, right?  And even better….there’s no “gotcha”

A little refresher:

A Reward Checking account typically offers a premium rate for customers who meet monthly requirements which may include one or more of the following: (1) monthly direct deposit  (2) monthly online bill payment, (3) receiving electronic statements instead of paper statements, and (4) check card or debit card activity.   These thresholds can be easily met  (at least they were for me) with your normal monthly activity.

As I mentioned earlier, after doing a fair amount of research, I recently opened an account at Coulee Bank

I am not an affiliate marketer for Coulee however, I chose an account here and am mentioning them for the following reasons:

-They have a 5 Star Ranking (Highest Available) through Bauer Financial reputable service that analyzes credit unions and banks very thoroughly.

-Easy Qualifications: To qualify for the higher interest rate of 4% on a monthly basis you must:

1. Make at least 10 debit card point-of-sale transactions (excluding ATM transactions).
2. Receive a monthly Electronic Statement.
3. One direct deposit or ACH Auto Debit (transaction must be over $1.00) (Just pay 1 bill online, like your cell phone or cable and you’re done)

-Coulee has been around since 1961 and has a reputation of offering “easy to use” and helpful online services.

-They carry FDIC protection up to 250,000

-Only $100 minimum opening balance

So, don’t settle for .25% checking when you can easily earn 4% for doing what you’re already do.  One of the best ways to get comfortable with any bank is to pick up the phone, call them and ask questions.  Then, open an account with the minimum opening balance requirement.  After you are comfortable with their services, transfer more funds and earn more interest.  I will try to post a couple other “reviews” later this month.  Happy Saving!

Related posts:

1. How To Do Better on Your Investment Savings Accounts
2. 4 Savings Habits To Increase Your Savings – Savings Habit 1 Getting The Most Out Of Your Current Savings
3. Compounding Interest, Time Is Money Explained
4. 4 Habits To Increase Your Savings – Habit 3 Use Cash for Discretionary Purchases