Incredible Bank High Yield Checking Account Review
This Incredible Bank High Yield Checking account review is for those who are interested with and wish to know more about internet-only banking. Incrediblebank.com, a division of River Valley Bank of Wausau, Wisconsin, is an internet-only bank that allows you to manage your money securely. They offer an incredible high-yield checking account that can be opened online.
Accounts at Incredible Bank are FDIC-insured to the maximum allowable limits of $250,000 per depositor. It requires a minimum opening deposit of $1000. Most internet savings accounts are paying under 1.50% APY, and although Incredible Bank’s rate did drop, it still continues to be very competitive at 1.74% APY on balances up to $250,000. Interest will be compounded and credited to your account monthly when your statement is cut. Since the high yield checking account is not a rewards checking account, it does not require any debit card usage or direct deposit to qualify for the top rate.
An internet bank needs more than just top rates to be a good deal. Online banking features are also important. Incredible Bank High Yield Checking account includes e-statements and free ATM transactions. ATM surcharges are automatically reimbursed. Incrediblebank.com allows a maximum of $10,000 ACH transferred out per day and a maximum of $50,000 ACH in per day. There is no limit if transfer is initiated from an external account. Three external links are allowed and transfers take one day. Other features like mobile banking and online bill pay can be added free of charge. There are no minimum balance requirements and no paper checks. With Incredible Online Banking, you have access to your account 24/7 from anywhere, as long as you have internet access and a 128-bit browser.
If you are planning to open an account with Incredible bank, make sure that you enable your e-statement to avoid monthly fee. Some readers report at least one hard credit pull (TransUnion), with Incredible Bank claiming it to be just a soft hit.
The above bank rates were posted 2/19/2010 but are still current and effective 4/27/2010. Like any other banking institution, these rates may change without notice. Incredible Bank High Yield Checking account review from Bankrate.com gives the bank a 4 star rating (sound).
For additional resources involving financial help please view Treasury Inflation-Protected Securities Explained on this website.
Another resource for financial information of interest can be found at Best Three Year CD Rates 2010 which is available on our sister website of www.bestcdratestoday.com. For even more information on investing please view Fidelity ETF on another sister site etfinvestingblog.com.
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Wed, 28th Apr 2010 8:00 am
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