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High-Yield Savings Account With Catches

Friday, November 11, 2011 - 6:39 AM
Just noticed this savings account described at the NYT Bucks blog

The savings account pays 5.1% APY, BUT there are important catches:
  • 5.1% APY applies only to the first $5,000 balance
  • It's attached to the new Union Plus prepaid card
As you can see in the Bucks blog, there are potential fees.

There have been other prepaid cards that provide a high-yield savings account. NetSpend has been offering a 5% savings account for its prepaid card since 2008. I reviewed this NetSpend account in this thread, and the history of NetSpend in this thread.
Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,634
1. Friday, November 11, 2011 - 10:50 AM
Be sure to check Consumer Reports dot com before joining Netspend.

At consumer reports type in Netspend.
RicochetRicochet133 posts since
Jan 19, 2010
Rep Points: 364