Question About How Interest Is Computed For Reward Checking Accounts

RJM
  |     |   499 posts since 2011

Most of them have limits. Say $25k and over that you earn nearly nothing.

My question is, rather than $25k for the entire month could I opt for $50k for half the month to get the same amount of interest?

Im guessing the answer is no but I wanted to ask to be sure.

Thanks

PS, my thinking is if they go by average daily balance, what I am talking about might work.



Answers
xllmmv
  |     |   2 posts since 2012
Balance is calculated daily, so if it's over 25k at a certain hour of the day, then you receive no interest for that day.


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