Saturday, April 21, 2012 - 10:11 AM

How Come Some Checking Accounts Pay A Higher Interest Than Savings Account?

how come some checking accounts pay a higher interest than savings account?

sometimes even at the same bank, with no fees whatsoever

runnerup1 posts since
Apr 21, 2012
Rep Points: 3

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1. Thursday, May 3, 2012 - 11:19 AM

The banks must make money on all the autopays etc. they make you have if you want to get the higher interest rate. I just can't figure out how this is done except one keeps a higher balance in the account to make sure all the autopays are paid.

paoli2436 posts since
Aug 10, 2011
Rep Points: 1,735

2. Tuesday, May 8, 2012 - 12:02 PM

I just wrote this blog post which discusses this issue.

KenBDG5,132 posts since
Nov 29, 2009
Rep Points: 116,925