Are most people getting checking accounts that gain interest? My bank isn't offering that....?

Answer 1

Most interesting bearing checking accounts require a minimmum monthly balance and each bank has different critieria for this. For example, a bank could require as little as $500 minimum monthly balance while another could require $5,000 minimum monthly balance.

Most large banks offer what they call a Money Market Account and this is an interest earning checking account with a minimum monthly balance required.

Answer 2

Even if it was the interest rate would stink and/or you'd be required to keep a decent sized minimum balance.

What you may want to do if you have thousands in your checking account is set up a Paypal account and link it to your bank. Then "sweep" all your extra cash that isn't going to be drawn on with checks, etc. in the next month into your Paypal account that will earn >5%. If you ever need to write a big check just be sure to "sweep" the money back in from Paypal to your checking account. It takes a couple of days to show up but is just a few clicks to perform.

Answer 3

I haven't heard of that anymore... if you have enough money I would open a money market account with something like Fidelity.

Answer 4

No, normally such accounts don't get any interest paid!