Rewards

What are rewards checking accounts? You’ve heard of rewards credit cards, but did you know that there are also rewards checking  accounts? These are checking accounts that offer you interest rates that may be comparable to the best savings rates in the market.

To obtain the interest rate rewards, you usually have to meet certain requirements. Typical requirements might be completing a certain number of “signature-based” transactions with your debit card each month, accepting paperless statements, setting up direct deposit or maintaining a certain minimum average balance.

Particularly if the terms of the rewards checking deal are activities you would see yourself doing anyway, rewards checking can mean having your cake and eating it too.