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A high-yield checking account can help you earn more on the money you use every day, as long as you know exactly what you're signing up for

A high-yield checking account can help you earn more on the money you use every day, as long as you know exactly what you're signing up for
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High-yield checking accounts that offer more than 2% APY are becoming more common.




However, many come with balance or deposit minimums, or require a customer use the bank's bill-pay service or have paychecks deposited directly in order to get the APY.




High-yield checking accounts can be a great way to earn more interest on your spending money, but read the fine print and research diligently to make sure the account you want fits your lifestyle.



Life is hard without a checking account. Without it, where would you deposit your paychecks? How would you pay your rent, your bills, your credit card balances? You checking account is the nexus of your entire financial life. The convenience makes them easy sells, so banks don't feel the need to load them with any extra perks.
Until now.
Interest rates for checking accounts have been abysmal for decades, but recently, many banks are starting to offer high-yield checking account products — banking options that can actually net a substantial return to those who use them.

What is a high-yield checking account?

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