Another High Yielding Checking Account and a Clarification About My LMCU Post

Yesterday I posted about LMCU high yielding checking account.

How Would You Like a 3% APY Checking Account? 

By the time, I didn’t know that Doctor of Credit had covered this deal back in 2014, otherwise I would’ve hattipped him like I always do.

Before writing a post, I normally do a Google search to find out if anything of what I want to say has been said before. If it has, then I either don’t write it at all or — if there is substantial new information to add — I will write it and mention the original author. Has worked for me so far.

I googled and didn’t find anything. Cross my heart!

In case of LMCU, I wouldn’t have probably written the post, since DOC had it covered quite thoroughly. I found the link to his post incidentally on Reddit, while I was doing a research on other high yielding checking accounts.

In fact, there are a few things about the LMCU that I learned in the DOC’s write-up that I hadn’t known before. Good things, too!

1. You can fund your deposit (up $5,000) with a credit card. As one of the commenters noted, if you use Barclays Arrival (or I would add Citi Double Cash), consider it a $100 sign up bonus.

2. Commenters note that you indeed can use your debit card to pay for bills online which can help to automate the monthly requirements.

3. Recurring bank transfers apparently do count as a Direct Deposit.

But there is also a not so good thing. They do a hard pull. However, they pull from Transunion, which is the least busy of the three.

Again, my apologies to DOC for not finding the original post.

Money One Federal Credit Union offers 3% APY high yielding checking account without a hard pull

Money One Credit Union 3.01% APY

The terms for getting 3.01% APY are literally identical to the LMCU offer.

• Have at least 10 debit card purchases post and settle
• Have at least 1 direct deposit or automatic ACH payment post and settle
• Be enrolled and log into online banking at least once
• Be enrolled and receive free eStatement notice

One Kasasa account feature that is better than LMCU’s is that Money One reimburses up to $30 in ATM fees, which is twice as much. However, there are also downsides.

1. You can’t make a deposit with a credit card.
2. The balance limit covered by 3.01% APY is $10,000 rather than $15,000.

Here is the link to the offer and full T&C.

Kasasa Cash 3.01% APY Offer

In other words, use this option if you need to park $25,000 on 3% interest. If not, the LMCU offer is better.

Hopefully, DOC hasn’t covered this offer (I tried to check), but if I’ve missed it again — my humble apologies.

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