BECU in Tukwila, Washington, offers Advantage Checking, with one of the highest annual percentage yields, but that rate can be earned only on the first $500 of an account holder's balance. Bankrate's 2016 High-Yield Checking Survey breaks down the returns you can get with each account and the hoops you'll have to jump through to get them.
|Notes: Advantage Checking Account (must open a Maximum Advantage savings account to become a member of the credit union): Available to Washington state residents, current or former Boeing employees (state specific) or family members. *One direct deposit, debit transaction, online bill pay or transfer of funds between accounts is required per month to qualify for rate. Balance above $500 yields 0.05%, if requirements are met. ATM refund: N/A.|
|Is it offered nationwide?||No|
|Number of monthly debit transactions required||1*|
|Is bill pay or automatic withdrawal required?||Yes*|
|Direct deposit required?||Yes*|
|APY above cap||0.05%|
*See notes section for more details.
Bankrate.com canvassed banks, thrifts and credit unions Feb. 16-22, 2016, and displays data on 56 high-yield checking accounts.