High-yield checking account recommended for online banking - KWWL - Eastern Iowa Breaking News, Weather, Closings

High-yield checking account recommended for online banking

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If you like to bank online and frequently use your debit card, a high-yield checking account just might be the right checking account for you. 

A new BankRate.com report released today said 20 checking accounts offered by U.S. banks and credit unions yield 2 percent or more. 

A 2 percent return on a $25,000 balance is $500 a year.

Traditional checking accounts yield an average of just .06 percent each year. That's $25 on a $25,000 balance.

To receive the best rates on a high-yield checking account, consumers typically have to pay bills online, utilize direct deposit, receive electronic statements and make at least 10 debit card transactions each month. 

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