From Bankrate.com: http://www.bankrate.com/finance/s...-perks.asp
"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.