Comments on: The ABCs of high-yield checking accounts

By: Earn 2.50% On Savings/Checking Combo

Earn 2.50% On Savings/Checking Combo — Sun, 08 Nov 2009 14:03:46 +0000

[...] this is starting to sound very much like the typical rules on high-yield or rewards checking accounts, that’s because they [...]

By: CrankySaver

CrankySaver — Sun, 11 Oct 2009 04:35:49 +0000

Absolutely. All of the banks we write about are FDIC insured. Ok, there was that one unusual Mexican bank that we posted on because of all the ads it was running in the United States. But we specifically said it wasn’t FDIC insured.

By: Neil Smith

Neil Smith — Sun, 11 Oct 2009 03:38:20 +0000

are the funds fdic insured?

By: Holding The Line On High-Yield Checking

Holding The Line On High-Yield Checking — Mon, 24 Aug 2009 19:22:00 +0000

[...] The only drawback is that you’ve got to follow some very specific rules, such as making a minimum number of debit card purchases each month. (If you’re unfamiliar with how these work, take a look at our ABCs of high-yield checking accounts). [...]

By: Bill

Bill — Sat, 11 Jul 2009 17:19:23 +0000

Actually, every bank I’ve encountered encourages you to use the debit card as a credit card. That’s because they get a higher fee on credit cards than they do on debit cards. The only time you need to use the card as a debit card is if you want cash back with your purchase or if you’re using an ATM machine.

By: barry brown

barry brown — Wed, 01 Jul 2009 21:52:56 +0000

Your mistaken about signing a debit card purchase 10-12 times per month. malvern federal lets you use the card as a credit card, no signature required. Also, most retail outlets do not require signatures anyway, espcially if the charge is under $25.00.

By: Mike

Mike — Fri, 19 Jun 2009 02:02:21 +0000

I don’t understand the statement, “the mandatory debit card purchases generate extra revenue”. Can you say more about this?

I understand that credit cards charge ~3% per transaction. Do debit cards also do this? As I understand it, they don’t.

I would like to see an article on why these new high-yield checking account insist on 10-12 debit-card uses per month. I just did a quick google and although I only spent 15 minutes checking articles, I was not able to find anything solid in regards to this. (Plenty of room for conjecture, but nothing solid.)

Thanks if you can help – Mike

By: Cate Douglas

Cate Douglas — Tue, 16 Jun 2009 05:06:06 +0000

Debit Cards have no protection and the banks apparently have the benefit – otherwise why use them?! The banks got us into this situation and now the banks are attempting to extort more money out of us. Maybe I should think of starting a bank – seems like it is a legal way to steal money.