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Which Banks To Link To Reward Checking?

Wednesday, July 21, 2010 - 12:45 PM
I'm want to set up a high-yield checking account.  I currently have checking accounts at both Chase & Wells Fargo.  Are these good banks to link to the high-yield accounts?  Has anyone experienced any fees, such as setting up automatic monthly payments to yourself at the high-yield account?
linmarielinmarie13 posts since
Jul 15, 2010
Rep Points: 44
1. Wednesday, July 21, 2010 - 7:15 PM
I would rate Alliant Credit Union as an excellent choice for a 'hub' bank/cu to link to other accounts such as Reward Checking.  Alliant continues to pay 1.50% on its checking account, has no limit on the number of banks/cus which can be set up for ACH, and has the fastest ACH transfers around.  ACH transfers initiated before noon Chicago time are completed that day.  Many other banks/cus take 3 days to complete a transfer.
AlanAlan33 posts since
Jun 7, 2010
Rep Points: 206
2. Wednesday, July 21, 2010 - 8:48 PM
I did a one-time ACH transfer from Chase to another account last week for the first time and it went fine, with no fees.  It took 2 days to post into the receiving account. The Chase interface offers recurring transfers; I haven't tried that yet, but I'd guess it would work the same way. The set-up for linking the receiving account was very standard (using test deposits) and presented no issues. 
leefleef19 posts since
Jun 24, 2010
Rep Points: 65