There are quite a few checking account plans out there, that tempt retail bank customers with high yields if -those hopeful people qualify..

To qualify of course, you need to meet their (demanding) expectations in being an ideal customer - which means, that you'll need to show them your goodwill by being regular enough with certain kinds of profitable banking transactions.. One very good example would be spontaneously using their online mode of bill payment service in paying your debit card for a month or more.

Bankrate conducted an analysis, wherein they discovered about 50 banks situated in the country, offering high rate business checking account plans to customers; With an astounding high interest rate of 3% for average up to as high as 6%.

After qualifying and getting used to it for several months there would be certainly come a time when you're not making sufficient business payroll checks with the bank; Your interest rate are then being considered by the bank, like cutting your rate down to their regular rate which would be below half of the percentage point.

Although you might not notice, but these banks are very much aware that interest rates at a range of 3 - 6% add up to their strategy of still tempting customers not to cut short their savings and stock investments into their high interest business checking accounts. These banks do not settle these type of accounts for big personal investments.

To guard against this, high interest checking account plans usually come with a ceiling on how much money you can hold in them - usually it's something under $30,000. Anything you hold above this will usually just drop you down to the default interest rate for the excess.. With some banks, that ceiling can come down to $1000, if you want to earn their highest interest rate.

Getting in touch with banks or credit unions like these is not that difficult; but if you are having a tough time locating a high interest checking account in your area, you just need to search around. The biggest complaint most people have with high interest checking account plans is the fact that they have a few simple rules for how many transactions a month you must have to qualify, among others. One can save money buying payroll check blank checks and software online. Top quality computer checks and even blank check paper is all available for the lowest cost online.

There's always no sweat hitting this particular business checking account rule - all you need is just to avail your debit card in buying lunch and other goods. What else is to grumble about when you're rewarded a 6% interest rate.