I am looking into opening a Schwab Bank High Yield Investor Checking account and not sure of the downsides?

Http://www.schwab.com/public/schwab/ban ... g/checking

Two downsides I can see are that you have to open a Schwab One® brokerage account and the only way you can get money into the account is by direct deposit, mailing in a check or transfering from you brokerage account. Not really that bad if you ask me (which I know you did not). So what are the other downsides?

I switched from a local bank to Schwab about 8 months ago.

Your top concern was my top concern too, and so far it is working for me. I find I do very few deposits to an account, as my payroll goes direct. A few checks a month mailed in seemed like it might be a burden, but so far i am happy. Schab gives you all the pre-addresses and paid envelopes you want. I used to drive around with deposits till it was convenient to go to the bank. Now I just have to wait a few days for the deposits to go through.

I don't use a lot of cash, but from time to time I want to draw $1000 in cash, and with Schwab you can't do that, or at least I haven't tried hard enough to find out how.

I go the the ATM 2 days in a row, now, although that is a hastle and only being able to get 20's is a hastle, but I get over it once I see my statement and enjoy the interest and completely free ATM's anywhere.

Your call, but I am happy. I do use the Schwab one account and have built up some Money market savings which gets even better interest than the checking account. And you can move it back and forth no cost!

Where is the highest yielding savings or checking account online?

I used to use Etrade, but they dropped the interest from 3.3% to .75%. I would prefer a place where money can be immediately transferred to a brokerage account.

Go to Bankrate.com.

Note that some, like ingdirect, have high rates but have no checking and a little clunky with their interface (no ATMs, 2-5 day delay for deposits/withdrawals).

TDAmeritrade and E*Trade have brokerage sides as well but may or may not offer the best APRs.

Don't forget to check out your local regional banks AND credit unions, you may be pleasantly surprised.

Good Luck.

Want to open a bank account savings or checking that has a high yield opening with 1000 dollars

I need to open a bank account whether it is a savings or checking it does not matter. i just want the highest yield that i can get i am going to open the account with 1000 dollars can you help me. Thank you will select best answer

Check out http://www.bankaround.com and find the highest interest rate.

Just keep in mind that at 1000, difference between 3.5 and 3.0 will not be that big.

What is one of the best money market checking/savings accounts with the highest interest yield?

I currently bank of Bank of America. I am disappointed in their low interest rates and am thinking of switching to a brokerage or mutual fund firm that handles checking and savings accounts as well as retirement funds. Can anyone recommend one that yields a decent rate of return with low fees? I'm also thinking of possibly linking a Capital One 5% money market savings account to my existing accounts. Does that make sense to do?

I was considering ING Direct, CapitalOne and HSBC online account. I am going with CapitalOne because I have a company credit card with them and love their service so far so I am looking to build a deeper relationship with them.

Getting more than 5.5% in the US is hard on these kinds of accounts but atleast that is better than the pittance most banks give.

Check out http://www.bankrate.com for rate comparisons as well as all the fine print and good luck.