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Interest bearing checking

February 19th, 2009 at 10:46 pm

How did I miss this?

I just went online to transfer $70 from checking to savings and I realized that the checking I was set up with was interest earning!

There is a $12 fee but that is waived if you have monthly automatic $75 transfer from checking to savings. So I have that set up for the 10th of each month. On the 9th on each month though, I have it set up so there is an automatic transfer from savings to checking for $75. So it evens out.

Once I hit a combined total of $5,000 between all my accounts I no longer need to have the automatic transfer to waive the fee.

I'm excited that I am earning interest on my checking. First time I've ever had a checking that earned interest.

Posted in Banking | 3 Comments »

3 Responses to “Interest bearing checking”

  1. Ima saver Says:
    February 20th, 2009 at 01:58 pm 1235138308
    1235138308

    I love it. I have 3 checking accounts and they pay 3.19% interest if you have a balance of $1000.

  2. cassandra Says:
    February 20th, 2009 at 05:11 pm 1235149891
    1235149891

    Wow! That is a really good interest rate. Mine is lower (.01%) but I do not have to have a minimum balance.

  3. Amber Says:
    February 22nd, 2009 at 01:07 am 1235264840
    1235264840

    I remember when I opened my ING account, earning interest was never a big deal for me but now at 35 I can't wait to see what I have earned. I'm glad you have learned early on that earning interest is great
    Way to go Smile

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