Rewards Checking and High Interest Checking are very similar checking accounts. They both provide account holders with the same grate products and features. Where they differ is in the initial cost of startup as well as monthly maintenance fees and minimum balances.
Rewards Checking only requires a $100 deposit to open an account. There is no minimum monthly balance, and there are not monthly maintenance fees. Rewards Checking offers a buildable interest rate up to 1.25% APY. Account holders can increase their interest rate by performing common banking actions and using their Visa debit card.
High Interest Checking needs $500 to open an account. There is a monthly minimum balance of $5,000. Should the monthly average balance fall below $5,000, a maintenance fee of $7.50 will be charged to your account. High Interest checking offers flat rate interest of .71%.
Although both accounts vary greatly in startup costs or maintenance fees, both accounts still offer the same great
online banking tools and services provided by Bank of Internet. From free online transfers, to MyDeposit to make deposits online without having to go to a bank, both accounts provide users with the ability to do all of their banking online eliminating the need for a physical branch location.
Visit Bank of Internet today for more information and to decide whether
online Rewards Checking or High Interest banking is best for you..
