Thursday, September 11, 2008


I have something to share with you that I hope you follow up on. It won’t make you rich, but it will help.

This website, endorsed by Dave Ramsey, helps you find checking accounts that offer high interest rates. That’s right! Interest on checking accounts!

These aren't invisible banks that you aren’t sure whether or not they even exist. These are real life banks. The one that I ended up going with was Lee County Bank and Trust right here in Iowa. The interest rate I’m getting on the checking account is 6.01% and THAT, my friend, is unheard of.

There are only 4 requirements that have to be met per billing cycle in order to qualify for this particular account:

1. Make 10 debit card purchases. I use my debit card for almost all purchases so not a problem.

2. Authorize either one direct deposit into your account, or one ACH auto debit from your account.

3. Agree to receive your bank statements online.

4. Access your online banking account at least once per month. Think three times daily is too much?

The biggest hurdle in getting our account set up was getting our documents notarized. Pool Boy and I are rarely in the same place during the weekday, and there aren’t many notary publics hanging around late at night when we finally are in the same location.

We have transferred all of our savings over to the new account and will also move our checking transactions over there. I'm not excited about having those two together in one account, but they are kept separate on my personal spreadsheet so I can work around it.

I’m curious to know if any of you go through with this so gimme some feedback.