Top Checking Accounts 2010
Today, we here at Online Banks Blog are going to follow up our look at money markets by looking at checking account offers.
Customers have started looking for the top checking accounts that are based on Internet. In the interest-based best checking accounts, Charles Schwab Bank currently takes the lead. It offers an APY of 0.75% and does not charge any ATM fees, monthly charges. They also do not have any minimum deposit requirements though certain conditions apply under which the banks can decide to close the account or ask customers to add a minimum amount of money.
ING Direct offers an APY of 0.25% and offers the same features as Charles Schwab with no monthly fee, minimum deposit or any other requirement.
EverBank has emerged as the new leader in best checking accounts. It currently offers an APY of 0.76%. The bank, however, does not offer a free checking account and requires a minimum balance of $1,500.
Charles Schwab, ING Direct and EverBank offer these checking accounts for customers that are ready to accept the limitations of these accounts. Although fees are not generally charged, these banks often limit the operation of accounts if they fall below a certain amount. ATM withdrawals thus become impossible unless and until a certain balance is reached by customers. This balance is different for each bank and depends on state and national standards. Non Sufficient fees are charged by Charles Schwab and EverBank but ING Direct does not charge any of these fees. ATM surcharges are not currently levied by any of these Internet-based checking accounts but future decisions can change this factor.
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