Do you have your money in a simple bank account? Do you want to make more money out of it? One easy way to do so is by keeping your balance in the High-yield checking account. These accounts give you a great return, and there are many banks and credit unions that offer you these kinds of accounts. Before proceeding it is important to know certain information about these accounts.

High-yield checking accounts are sometimes also referred to as reward accounts. There are certain conditions that you have to fulfill if you want to get the maximum return If you want to go for a reward account most banks and credit unions will require a minimum deposit of $25,000. The minimum deposit may be higher for certain banks and credit unions, but this is the average amount that you will have to maintain in your account.
You will also have to make a certain number of debit transactions each month. Again the number of transactions that are necessary for top yield will depend on the institution you are going for. To give you an idea, you may be required to make at least 10 to 12 debit card transactions each month to qualify for the high yield.

You also need to make an automated transaction each month in your high yield checking account. This could be in the form of an automated debit transaction into the account, or this could be an automated credit transfer from the account. Either ways, you will be obliged to make at least one automatic transaction per month.
So what reward do you get for doing all this? These accounts yield a certain annual percentage each year which will add to your money. Again the rate of yield depends on the bank or the credit union that you choose, but a typical checking account is likely to get you a yield of somewhere between 2.55 and 3%. The best part is that unlike the case of savings account where your money is stuck, the money in a checking account is liquid and can be withdrawn whenever you want it. It is important to note that failing to fulfill all the requirements, you will be entitled to only the minimum dividend.