If you are looking to earn some extra cash, then you might want to sign up for a Rewards Checking Account (RCA). A rewards checking account is an account that requires you to meet certain criteria in order to receive a higher-than-normal APR as compared to a savings account.
|Discover Bank Online Savings Account: Earn $100 Bonus along with high interest rate of 0.95% APY! You must apply through HustlerMoneyBlog.com with promo code HMB217 by 05/31/2017 and make a minimum deposit of $15,000 by 06/15/2017. FDIC-insured, no minimum balance or monthly maintenance fees. Apply Now---Discover Bank Review|
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|You can now open a Chase Premier Plus CheckingSM online or in-branch and get $300 when you open a new Chase Premier Plus Checking(SM) account and set up direct deposit. Unlike other Chase coupons, you can apply online directly. The Chase Premier Checking account comes with free Chase Debit Card, free Online Banking and Online Bill Pay, free Mobile Banking, free Account Alerts, and free access to 16,000 Chase ATMs and 5,200 branches. Apply Now---Chase Premier Plus Checking Review|
Common Reward Checking Requirements:
- Enroll in eStatements: Paper statements costs financial institutions a lot of money. They have a huge customer base, and each customers’ statements are multiple pages. By enrolling in eStatements, you are essentially saving some of the costs of the bank.
- Receive a monthly direct deposit: Banks want you to directly deposit your paycheck into their account. Doing this provides a constant flow of money into your account and ensures the bank that it is your primary account. In some cases, the direct deposit has to be a paycheck or a government benefit; however, an ACH transfer will sometimes trigger the requirement. Be sure to double-check the account details.
- Make a minimum number of debit card transactions: This requirement is another way to ensure that the direct deposited account is your primary account. Also, the bank earns a small processing fee wherever you use your card, so it is also a profit generating task.
One of the key differences between a RCA and a savings account is the limited balance that is required. Typically, RCAs have a maximum limit to how much you can deposit within the account; however, they have a higher APY – meaning that there is a higher interest rate associated with the account and more cash for you. On the other hand, good savings accounts’ interest rates stick around the 1.00% usually without a maximum limit on the account.
Below you will find a full list of our Best Rewards Checking Accounts. We will be continuously updating this page as much as we can to give you the best options possible.
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