High interest checking accounts for real?

[SeekingJoy]

I found this list of high-interest checking accounts. We currently have our EF in an ING savings account, but a higher interest rate would be fantastic. A MMA, CDs or another type of cash account would be fine.

Anyone used one of these banks: Capital Bank, Liberty Bank, Connexus Credit Union, Altra Federal Credit Union or Community National Bank of the Lakeway? All are showing interest rates of 4%+ on balances up to $25k if a certain number of debits are made a month. Is this for real? Any bad experiences? Fine print?

[sunnysandiegan]

I have never heard of those specific banks listed.

However, I recently changed a bunch of our accounts around in order to get a bit of extra interest and some bonus money. If you have a Costco membership, you can get a savings account through Capital One Bank for some interest and a bonus (which went up since I did it, but I haven't read the new rules...ours was $65 with an executive membership). Also, if you have a Costco membership, you can open a Sharebuilder account (now linked up with ING Direct) and get a bonus plus they offered me 40 free trades (specific rules apply). With either promotion, go to Costco's website and click on "services" and follow the links. Going directly to the other websites will not allow you to take advantage of the Costco promos. When I was searching, Costco promos were far better than the regular promos on the sites directly.

Also, we went through Everbank for a 3.01% bonus rate for the first three months plus a decent rate on a regular savings account. I found that through some google search and it is still going on the Everbank site. The bonus rate is fine with us because the money came from an insurance claim and needs to be used to pay an interest-free loan for materials we purchased prior to the insurance claim being settled. In other words, this money is only ours short-term anyway.

Oh, I also got a bonus for opening a checking account with ING Direct through my existing Sharebuilder account.

I went searching for "free money" and I found it. You can, too...

[november]

I am currently banking at a credit union here in Southwest Kansas that gives me 6% on my checking account, no joke. All I have to do is get e-statements and use my debit 10 times per month (which is not hard to do..). No gimmicks, and I've been getting the 6% for over a year now. PM me for details if you're interested.

[phatchristy]

Make sure these banks are reputable and have FDIC insurance.

[SeekingJoy]

That is a great point and a good general reminder. Thanks.