Bank of USA Checking Accounts

Bank of Internet USA has long been offering high yield checking accounts. Take a look at some of their offerings:

For those who want high yields on their checking without the hassles of reward checking accounts, Bank of Internet checking accounts are a good option. The best rate is on the Senior Checking which is only for those 50 or older. Some of the perks include:

• Yield of 3.75% APY on all balances as of 2/28/08
• Minimum opening balance of $50
• No monthly service charge, no minimum balance required
• Free checks. Limit one box per order.
• ATM fees reimbursed up to $8 per month
• Free banking by mail using BofI postage paid envelopes
• Unlimited Bill Payments at no charge

Almost as good is the Boomer Checking which is only for those 40 or older. It seems to have all the perks of the Senior checking except a lower yield (currently 3.45% APY on all balances).

For those under 40, Freedom Checking has a yield close to the Boomer Checking (currently 3.40% APY on all balances). The main downside is the $1K minimum balance required to avoid a monthly fee. Below are the features that are different than the Senior and Boomer Checking accounts:

• $1,000 minimum balance to avoid a $4/month fee
• Initial order of 50 checks provided free
• ATM fees you pay reimbursed up to $7 per month