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Bank of Internet USA High Interest Checking AccountRates and Account Features Last Update: July 1, 2008
Bank of Internet unveiled a new web site design on July 1, 2008 and with it, a new checking account. It's called the High Interest Checking Account and it was introduced with an annual percentage yield of 3.40%.
Account Features
Account Review
Bank of Internet unveiled a new web site design on July 1, 2008 and with it, a new checking account. It's called the High Interest Checking Account and it was introduced with an annual percentage yield of 3.40%.
The yield is one of the highest checking account rates available on an online checking account. It is over 35 basis points higher than the checking account it replaces, the Freedom Checking account.
But the high yield comes with a catch - an average daily account balance of $5,000 must be maintained to avoid a $7.50 per month fee. That's $4,000 higher than the Freedom Checking account.
Other features of the High Interest Checking Account include unlimited check writing, free online bill pay, online images of statements and paid checks, free first order of checks, and ATM fee reimbursement of up to $8 per month.
The minimum deposit required to open the High Interest Checking Account is $500.
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