Looking to stay on top of the latest news when it comes to checking accounts? Recently, there has been some major shakeups in the checking world including a digital checking account competitor, a checking account named America’s best and an overhaul of top-tier checking accounts from one of America’s largest banks.
Square takes aim at traditional with Checking and Saving Accounts
Here’s some checking news that was not meant to get out into the public. Some hidden code inside of Square’s app reveals that the cash app company is planning to launch a checking and savings account service. The checking account appears to be offering an APY rate of .5% which would be almost 50 times higher than checking account interest rates offered by the likes of JP Morgan. While none of this information has been confirmed, Square has been seen as a big disruptor in the financial industry with their easy to use cash transfer services. Offering checking and savings services would be a natural progression for the company.
Axos Bank Business Interest Checking Named America’s Best
When it comes to small businesses, having a good checking account is important. Therefore, small business owners would likely be interested in Axos Bank’s Business Interest Checking which was named one of America’s Best by WalletHub. The Axos Bank’s Business Interest Checking pays an incredible .81% annual interest rate and waives its $10 monthly fee for accounts that hold over $5,000. The Axos Bank Business INterest Checking account also allows unlimited ATM reimbursement fees. Overall, the Axos Bank Business Interest Checking appears to be a great choice for small businesses who maintain a decent balance in their accounts and want to collect an interest rate much higher than the industry norm.
Chase Checking Account comes with $200 sign up bonus
It’s not often that you see a checking account that comes with a big cash sign up bonus. That’s why it is big news when Chase announced that it was offering a $200 sign up bonus on its Chase Total Checking account. Note that this $200 sign up bonus is good for new Chase customers only. However, this account may be enough to entice people to switch banks since Chase has a number of physical bank branches along with a number of online banking services. Be aware that you are not eligible for the $200 sign up bonus if you have closed a Chase account within the last two years. Overall, a $200 sign-up bonus is a great incentive. However, you should check out all the features that come with the Chase Total Checking account to see if it is right for you.
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