High-Yield Checking With Less Grief

Incrediblebank has a unique and somewhat simpler take on high-yield checking accounts.

Before proceeding, we should stop and say we have no idea who comes up with the increasingly ridiculous names for online banks.

Incrediblebank is owned by River Valley Bank, of Wausau, Wis., which has eight branches in northern Wisconsin and six in Michigan’s Upper Peninsula.

And it has only one product: A checking account that pays 2.02% on balances up to $250,000.

If you can get past the name — which seems like way too much hype to be trustworthy — it’s a pretty good deal.

It’s not as much as you can earn with other high-yield or rewards checking accounts.

But 2.02% APY is nearly as much as you can earn from the top-paying 12-month CDs.

The rules are much simpler, too. There’s no mandatory direct deposit, no mandatory electronic bill payments and no minimum debit card purchases to worry about.

There are also no monthly fees or minimum balance, and you can use any ATM in the country free of charge with up to three transactions per day and a $500 daily limit.

This deal is available nationwide and you can open an Incrediblebank checking account online with a minimum deposit of $1,000.