Interest-checking-accounts

The newest banking fad is Interest-checking-accounts. That's probably because very few people in America at least are saving money. Instead we're going deeper into debt.

Here in Eastern Idaho, The Bank of Idaho has a new Interest-checking-account but you only get the 5% interest if you qualify.

1) You have to receive your statements online-saving the bank money on paperwork

2) You have to use your debt card at least 10 times during the month.

3) You have to have an ACH automatic withdrawl or deposit. This one has been the hardest for our family as we set up our automatic withdrawl for our Dish payment but it showed up as a POS transaction instead of an ACH. We set up an autopay with the electric company as well but when the bill came my hubby paid it so we again didn't show an ACH withdrawl on our statement.

The subscription button below is an experiment to see if paypal subscriptions will show up as ACH payments. The deposits from my paypal account always show up as ACH payments but that's for my business account not for my Interest-checking-account.

If this works I'll see if my daughter wants to sign up and if anyone else is interested :) Paying $1 a month and not losing out on $20+ bucks sounds worth it to me :)

Update: The subscription below did not produce an automatic ACH transfer as anticipated. Last month instead of having our electric bill payed automatically, John wrote out a check so we missed out on the interest payment again :( This month I paid the bills and made sure that the electric bill was not paid by check!

Have a great day!vickie