Many people search for ways to keep their money safe, liquid and continuously earning a dividend. Fortunately, many banks and lenders have moved their operations online, so you have some choices when it comes to how to find the best checking account yields. Not all banks operate the same way, nor do they offer the same yields (commonly known as APYWHAT??). There are a few things to consider when choosing a bank for you checking account.

1. Find the highest long rage, average yield. Many banks will offer a very high promotional rate, but then drop it after a certain length of time. Pay attention to the fine print. If you are fanatical about earning the highest available yield, shop around regularly to figure out ways to move your money around so that it is earning the highest rates at all times. Otherwise, place your money in an account that you’re sure will give you a consistently high APY; some go as high as 6 percent, with a minimum balance. Visit bankrate.com to find out which banks currently have the highest rates.
2. Keep identity security in the forefront of your mind. Not all banks are hacker-proof, and sometimes the most secure banks will cause you what seems like a big hassle to open an account. This may mean a lot of paperwork via snail mail, but don’t get frustrated, be glad. This means your identity is more secure.
3. Find out about customer service. Is it impossible to speak with a live person? We are talking about your money, here! You should be able to have a conversation with a representative at the bank during normal business hours, at least. When so many of your business transactions take place over the web, you will appreciate a live person helping you when you need it. Also, find out if the bank offers special services like online billing and check-mailing services. The highest quality banks will offer a plethora of banking services.
4. Check the availability of your funds. How liquid is your money once it’s in the account? Is it difficult to transfer it to another account? How long does the transfer take? Some investors find that it may take several days from the time they request their money to the time they finally have access to it. Many people seeking the best checking account yields fail to question whether or not it’s easy to gain access to those yields. It will not matter to you that your money is making a high APY if it is like pulling teeth to get it out!

~There are online resources that compare the major online banking companies and clearly list their APY and fees. One to try is redflagdeals.com, which is a great resource for finding out how to find the best checking account yields, as well as many other financial topics.

After researching many banks, you will most likely find one that will meet your needs. Many of them will require minimum balances to start an account, and a minimum balance you will need to keep in order to avoid administrative fees. These stipulations are very similar to the ones that brick-and-mortar banks have traditionally had for money market accounts. Before you sign an agreement with one of these online banking services, check with your current bank to find out if a money market account may just meet your financial goals.There are online resources that compare the major online banking companies and clearly list their APY and fees. One to try is redflagdeals.com, which is a great resource for finding out how to find the best checking account yields, as well as many other financial topics.

After researching many banks, you will most likely find one that will meet your needs. Many of them will require minimum balances to start an account, and a minimum balance you will need to keep in order to avoid administrative fees. These stipulations are very similar to the ones that brick-and-mortar banks have traditionally had for money market accounts. Before you sign an agreement with one of these online banking services, check with your current bank to find out if a money market account may just meet your financial goals.