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Linking Savings Accounts To Bank Perks

Wednesday, September 11, 2013 - 6:06 AM

"These accounts, though still rare, link a savings account to a certificate of deposit, checking account or even debit card. The lure is greater access to your savings or higher interest rates -- sometimes more than 6 percent."

These hybrid accounts offer limited benefits in my opinion.  In our case, we reluctantly link all our savings/checking accounts (parents, son, and daugther) together; the total balance has to be $20K to qualify for premium status.  Well, the only real benefit I see, other than montly fee waiver, is free rent of safe deposit box.

Like this article stated, one does not get something for nothing.  In this case, the trade-off may not be in the investors' favor.   
51hh51hh1,476 posts since
Jan 16, 2010
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