Charles Schwab Bank offers a High Yield Checking Account that has a very good set of features.
- 3.01% APY
- Free standard checks
- Zero ATM fees - they refund whatever fees the ATM owner may charge
- No minimum balance requirement
- No monthly service fee
- No direct deposit requirement
- Free online bill pay
- FDIC insured about $100,000
So what's not to like? Nothing much, really. This is very similar to the Fidelity's mySmartCash Account I had covered earlier but pays a bit more in interest. The only hiccup - you are also forced to open a Schwab One Brokerage Account that is linked to this checking account. You will also see a hard pull on your credit report.
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