APY GUY: Maximize Your Savings & Earnings

Lauren Graves

Suncoast Credit Union CD Rates – Up to 4.00% APY!


image credit: suncoastcreditunion.com

Suncoast​ is the largest credit union in Florida and the tenth largest credit union in the U.S. by asset size.

Founded in 1934 as the Hillsborough County Teachers Credit Union by a small group of teachers, Suncoast got its start serving only school employees. For many years, it was a federal institution called the Suncoast Schools Federal Credit Union and only transitioned back to a state credit union, assuming the name it has now, in 2013.

Today and since 2013, membership is not career-dependent. Suncoast serves 884,024 educators and non-educators alike across Florida. However, Suncoast membership isn’t open to everyone.

To be eligible to join, you have to live in Florida yourself, be a graduate of Florida College, or be related to someone that’s already a member.

Suncoast Credit Union CD (certificate of deposit) rates are currently providing yields that are much higher than the national average for each respective term. They were recently featured in our October 2022 report of the best CD rates in Florida.

Suncoast Credit Union CD Rates + Details

Suncoast deposits and savings are federally insured by the NCUA (FDIC equivalent for credit unions) up to $250,000. A traditional share certificate requires a minimum opening deposit and average daily balance of only $500.

CD Rates

CD TermAPY
6 month1.30%
12 month4.00%
18 month2.00%
24 month2.50%
36 month4.00%
48 month2.75%
60 month3.25%
APY = Annual Percentage Yield

To put these yields above in perspective, the current national average for a 12 month CD and a 60 month CD sit at just 0.71% APY and 0.83% APY according to FDIC data.

Jumbo CD Rates

CD TermAPY
6 month1.30%
12 month4.00%
18 month2.00%
24 month2.50%
36 month4.00%
48 month2.75%
60 month3.25%
APY = Annual Percentage Yield

Early Withdrawal Fees

An early withdrawal fee of 90 days interest is charged if you withdraw funds from CDs with terms of 12 months or less and 180 days interest is charged for early withdrawals on terms 12 months or more.

Compounding Interest

Dividends for these accounts are compounded daily and credited monthly. You can choose to have your interest credited back into the CD or deposited into another account – either external or internal to Suncoast – without incurring any fee.

Jumbo certificates of $100,000 or more are also sold through Suncoast Credit Union. In normal market conditions, these products earn higher fixed rates than regular share certificates with lower balances, however, Suncoast and many other institutions have their yields much more inline with standard CDs at the moment.

In addition to their standard CDs and jumbo CDs, Suncoast Credit Union also offers a ​Smart Start certificate account​.

Smart Start Certificate

The 12 month Smart Start certificate allows you to make deposits on a schedule rather than up front. It can be opened with just $50 and comes with an APY of 4.00%. After your initial deposit, you’ll need to schedule automatic payments of at least $40 per month from your payroll or another account. All of the restrictions and fees listed above for regular share certificates apply for Smart Start certificates.

To open a Suncoast CD, visit a branch, send an email through online banking, or contact the Member Care Center​ at ​813-621-7511 or 800-999-5887.

Suncoast Credit Union Money Market Rates + Account Details

Suncoast Credit Union’s current money market rates are much less competitive than their CDs. And although the national average for money market accounts sits at around 0.23% APY, better rates with more flexible balance requirements can be found online.

Money Market Rates

BalanceAPY
$0 – $999.990.70%
$1,000 – $24,999.990.85%
$25,000 – $49,999.990.95%
$50,000 – $99,999.991.05%
$100,000 – 149,999.991.15%
$250,000+1.25%
APY = Annual Percentage Yield

Dividends are compounded daily and paid monthly. Your balance can drop below $1,000 without incurring any fees, but you’ll stop earning interest as soon as that happens. You can easily access your money online or through the mobile app, but you’re allowed only six transactions per month, which is required by law per regulation D. If you need to make more than six transactions you’ll want to stop by a branch and check with someone in person.

Other Savings Accounts Offered by Suncoast Credit Union

A regular share membership is the savings account that you open when you first become a Suncoast member. This account comes with an APY of just 0.15%. We wouldn’t recommend using it to grow your savings given the paltry APY but it is required to be a member. Currently, it requires an opening deposit and average daily minimum balance of just $5 to stay open and maintain membership with the credit union.

There are also the student savings, health savings, and special share savings accounts. A special share savings is just a savings account you can have in addition to your regular share membership savings account and it earns the same rate. The only difference is that it does not require a minimum balance because it does not count as your share in Suncoast Credit Union.

A student or youth savings account is simply a certificate account that earns the same tiered rates as the standard Suncoast CDs but requires a minimum opening balance of only $500 – making it more manageable for students.

About Suncoast Credit Union + Eligibility

Suncoast has exactly 895,000 members as of mid 2020 and this figure has been growing steadily each year. The composition of Suncoast Credit Union’s Financial statements are as follows:

Deposits: $9,832,734,549

Loans: $8,566,015,257

Assets: $11,100,632341

Suncoast Credit Union is headquartered in Tampa, Florida and serves communities across the state. There are ​68 branch locations​ in 40 Florida cities and hundreds of Suncoast branded ATMs. Though it is a state credit union and does not participate in co-op shared branching with other institutions, Suncoast ​does​ have over 30,000 ATMs with other credit unions across the nation. Use the Suncoast site to find a branch location, Suncoast (surcharge-free) ATM, or co-op ATM near you.

Suncoast membership is, of course, residency or geography based. However, you don’t necessarily have to be a current Florida resident to be eligible to join. To qualify for membership, you must:

  1. Have an immediate family member that is a Suncoast member
  2. Live in a qualifying county (see below)
  3. Be a graduate of ​Florida College

Qualifying Florida counties​ include:

  • Alachua
  • Brevard
  • Broward
  • Charlotte
  • Citrus
  • Clay
  • Collier
  • Desoto
  • Dixie
  • Duval
  • Gilchrist
  • Glades
  • Hardee
  • Hendry
  • Hernando
  • Highlands
  • Hillsborough
  • Indian River
  • Lake
  • Lee
  • Leon
  • Levy
  • Manatee
  • Marion
  • Martin
  • Miami-Dade
  • Monroe
  • Orange
  • Osceola
  • Palm Beach
  • Pasco
  • Pinellas
  • Polk
  • Sarasota
  • Seminole
  • St. Johns
  • St. Lucie
  • Sumter
  • Volusia

Quontic Bank CD Rates – Now up to 3.20% APY!


Quontic Bank is an “adaptive” digital bank headquartered in Manhattan, New York. Founded in 2009, the bank is federally chartered and available to members in every U.S. state.

Quontic is a member FDIC and all deposits are federally insured up to the applicable limits.

They are also a certified Community Development Financial Institution committed to providing accessible banking solutions to low-income households. They were named the Best Online Bank by Bankrate in 2020.

One could, theoretically, do all of their banking with Quontic, as this bank offers a range of accounts to meet your saving and checking needs as well as mortgage lending options. Deposit products include certificates of deposit, savings accounts, and three different types of checking accounts. Each one takes less than 3 minutes to open and can be funded with as little as $100 (different terms apply for different accounts).

Find out if Quontic Bank’s deposit accounts are right for you in our comprehensive review below.

Quontic Bank CD Rates + Account Details

image credit: quontic.com

Quontic Bank has 5 standard term CDs available. Each comes with a minimum deposit requirement of $500.

Term LengthAPY
6 months1.70%
1 year2.50%
2 years2.80%
3 years3.00%
5 years3.20%

To put these yields into perspective, the current national average for 12 month and 60 month CDs sit at just 0.71% and 0.83% APY, respectively, according to FDIC data.

Interest is compounded daily and credited monthly to your account.

You can make this deposit via ACH transfer from an external bank or from another Quontic checking or savings account. You are not permitted to add additional funds to your account after it has been opened.

All Quontic certificates of deposit—and other deposit accounts—are federally insured by the FDIC up to the federal limit of $250,000 per depositor.

Quontic Bank does not offer any promotional CDs at this time.

Early Withdrawal Penalties

When your CD matures, you can withdraw your money without penalty. Partial withdrawals are not allowed—you need to withdraw all or nothing. But if you need to take out your money before it matures, you can do so but will incur the following early withdrawal fees:

  • Early withdrawals from CDs with terms less than 12 months incur a fee equal to the full term’s interest
  • Early withdrawals from CDs with terms between 12 and 24 months incur a fee equal to one year’s interest
  • Early withdrawals from CDs with terms over than 24 months incur a fee equal to two years’ interest

These penalty fees are quite a bit higher than most, so avoid them if you can.

Grace Period

You will have 10 days to remove your money from your certificate of deposit after it renews penalty-free. You will receive a notification at the beginning of this grace period that your account has automatically renewed and that you have a short window of time to withdraw your money, if desired, without incurring penalty fees. Otherwise, you’ll lock in to the same account for another term.

High Yield Savings Accounts

The high yield savings account by Quontic Bank comes with one of the best yields around currently and can be opened with just $100.

Minimum opening depositAPY
$1002.30%

Right now, the national average for a savings account sits at just 0.21% APY.

Once the account is opened, there is no minimum daily balance required to earn interest—all positive balances through $999,999.99 earn the advertised rate.

Interest is compounded daily and credited monthly to your account.

In accordance with Federal Reserve Board Regulation D, users are permitted to make up to six withdrawals or transfers from this account per month. Transactions in excess of this limit are subject to penalties and may not be processed. There is a penalty fee of $10 for every excessive transaction.

Money Market Account

The Quontic Bank Money Market account pays interest in tiers based on balance amount, however at this time all tiers pay the same 1.50% APY. As with Quontic Bank’s other deposit accounts, their money market account is also one of the highest yielding in the country. The minimum deposit requirement is $100.

BalanceAPY
$0.01 – 4,999.992.15%
$5,000.00 – 149,999.992.15%
$150,000+2.15%

For context, the national average for a money market account currently sits at 0.23% APY.

Interest is compounded daily and credited monthly back into your money market account.

You can fund your account by transferring money from an external bank or by transferring money from another Quontic account. There are no minimum daily or monthly balance requirements or penalties for low balances.

You may ask for a debit card for this account, but keep in mind that this is a savings account. Users are not permitted to make more than six transactions into or out of this account per statement cycle. Doing so will result in a fee of $10 each time or Quontic may choose not to authorize excessive transactions at all.

Checking Accounts

Quontic Bank offers three different types of interest-bearing checking accounts: High Interest Checking, Bitcoin Rewards Checking, and Cash Rewards Checking.

High Interest Checking

The high interest checking account also comes with a $100 minimum deposit to open and qualifying activities each statement cycle (see below).

BalanceAPY
$0 – $150,0001.10%
$150,000.01 – 1,000,0001.10%
$1,000,000.01+1.10%

The national average rate for interest-bearing checking accounts sits at 0.04% according to the FDIC.

The catch with this high interest checking account is you must perform certain activities to earn the advertised rate.

To earn the APY, you must do the following:

  1. You must make a minimum of 10 qualifying point of sale debit card transactions of at least $10 per transaction per statement cycle.

If you do not meet this requirement, your balance will earn 0.01% in interest.

As of July 2022, all balances earn the 1.10% APY as long as requirements are met.

Interest is compounded daily and credited to your account monthly. 

You need to deposit $100 into this account when opening it, but you are not required to maintain a minimum monthly balance in order to earn interest or avoid fees. There are no monthly maintenance, service, or low balance fees associated with this account. 

There are also no fees for using your Quontic debit card at in-network ATMs including those within the AllPoint, MoneyPass, SUM, and CitiBank networks. There are more than 90,000 participating ATMs across the country including in convenient retail locations such as Target, CVS, Walgreens, and Circle K.

Bitcoin Rewards Checking

This is an interesting product in that rewards are paid in bitcoin. Users are eligible to receive up to 1.5% bitcoin on all point of sale in-person and online transactions made with their Quontic debit card. Transfers, ATM withdrawals, and bill payments are not eligible to earn this interest rate.

Interest is compounded daily and used to purchase bitcoin on your behalf every day. As long as your Bitcoin account remains open and in good standing, your rewards will not expire.

🔍 Please note that this Quontic checking account and the balance in it are FDIC insured but your Bitcoin account and its balance are not.

When you want to redeem the Bitcoin you have accrued for cash, you can do so by paying a 2% fee to NYDIG and NYDIG will transfer your bitcoin to cash and deposit your earnings into your Bitcoin Rewards Checking account. Besides the 2% fee charged by NYDIG, there are no fees charged for this action. You may not purchase more bitcoin than what you earn through interest. Bitcoin rewards are not taxed but transfers may be in your state.

This account requires a minimum deposit of $500 to open, so it is a little bit harder to open than the other Quontic checking accounts. There is no minimum daily balance requirement for earning interest and all balance tiers are eligible to earn the maximum interest rate.

Residents of Hawaii, Idaho, Indiana, Louisiana, Nebraska, Nevada, and North Carolina are not eligible to open a Bitcoin Rewards Checking account at this time.

Cash Rewards Checking

This product allows users to earn up to 1.5% cash back on all qualifying point of sale transactions made with their Quontic debit card. This includes debit card transactions made in-person or online and does NOT include ATM transactions, peer-to-peer transfers, electronic loan or bill payments, and ACH transfers.

There is a minimum opening deposit requirement of $100 to fund this account, but you don’t need to maintain a balance of $100 or more to earn interest. There are no balance tiers for the Quontic Cash Rewards checking account; all positive balances qualify to earn the maximum interest rate.

Interest is compounded daily and credited monthly into your Quontic checking account.

Fees

For every type of Quontic Bank checking account, there are a few fees you should be aware of. These are the following:

  • Overdraft/non-sufficient funds: $35 each
  • Incoming wire transfer: $10 each
  • Outgoing wire transfer: $30 each
  • Account dormancy: $10 per month
  • Cashier’s checks: $10 each order
  • Money order: $4 each
  • Activity statement: $5

None of the three accounts charge maintenance or low balance fees.

Fitness Bank Savings Review – Now up to 3.60% APY!


image credit: fitnessbank.fit

How far have you gone to save money? If your answer is 10,000 steps or more a day, you might want to hear about FitnessBank.

Self-described active lifestyle bank, FitnessBank is an FDIC-insured online member bank that wants you to stay (or get) fit almost as much as you do. By incentivizing fitness progress with financial savings, this modern bank strives to keep you accountable and boost your morale during your wellness journey.

About Fitness Bank

Though new itself, FitnessBank is a division of ​Newton Federal Bank​, an entity with roots in 1947. But as the only company in America that links physical activity with earnings, FitnessBank is the first of its kind.

This online bank only offers savings accounts: the Fitness Savings and the Senior Savings Account. So if you’re looking for a bank that features checking account options, retirement guidance, investment opportunities, or physical branches, look elsewhere. In addition, this bank operates 100% online, so FitnessBank accounts are only for those fully comfortable using technology to manage their money.

As a non-traditional digital bank, FitnessBank joins the likes of popular FinTech companies such as ​Simple​, Affirm, ​Chime​, Aspiration​, and more. If you want to become part of a new kind of banking, keep reading to find out if a FitnessBank savings account will fit your lifestyle.

Fitness Bank Savings Account

FitnessBank’s method for establishing your APY (annual percentage yield) is what sets it apart from the rest of the online savings accounts out there. The interest you earn on your FitnessBank savings account is determined entirely by the physical steps you take. Your average daily step count is calculated each month and your APY adjusted accordingly. Because of this payment method your interest is both compounded and paid out monthly.

A Fitness Savings account is available to anyone U.S. citizen that’s 18 years old or older for an opening deposit of $100, and signing up is easy. The company boasts a straightforward ​application​ that takes less than two minutes to complete. Account balance thresholds are:

  • Account minimum:​ $100
  • Account maximum:​ $250,000

With a Fitness Savings account, the following actions and features are free:

  • online banking
  • external account transfers
  • incoming wire transfers
  • eStatements

Here is a breakdown of all fees attached to FitnessBank accounts:

Maintenance Fee$10/month
Excessive Withdrawal Fee$10
Overdraft Fee$40

The monthly maintenance fee of $10 is waived for accounts with an average daily balance of $100 or more. The excessive withdrawal fee of $10 per transaction is charged when you make ​more than six debit transactions​ (withdrawals or automatic transfers/payments), or your monthly allowance, in a single month. An ACH incoming/outgoing transfer limit of $2,500 per day is enforced.

FitnessBank does not offer debit cards and there are no FitnessBank ATMs, so you will not be able to withdraw funds in-person at any ATM.

How the Step Tracker Works

The FitnessBank business model is made possible by the ​FitnessBank Step Tracker app​. This proprietary app links to a ​FitBit​,​ Google Play​, A​pple Health​, or ​Garmin​ activity-tracking device to log your steps and to your savings account to deposit earnings. You can set monthly APY and step targets for yourself and see your progress toward them right in the app.

Your APY is calculated month-to-month from the previous month’s step data. If, for example, your average daily step count for December is 10,000, your APY for January will be 0.45%. If your average daily step count for January is 8,700, your APY for February will be 0.35%.

The Step Tracker draws data from your chosen activity-tracking device, but the only way for FitnessBank to receive this data is for you to open the Step Tracker app between the first and third of every month. If you forget to do this, FitnessBank will use the previous month’s step data to calculate your average daily steps. If you work hard to increase your daily steps, you’ll want to make sure that the Step Tracker app can see this. Don’t let expired data keep you from earning the rates you’re entitled to.

To further motivate users to perform, FitnessBank features Step Challenges and ​Leaderboards. Winners earn the rewards and prizes described in each challenge summary. There is a FitnessBank Step Challenge of the Month in which all FitnessBank customers can compete and promotional Step Challenges that are open to the general public. Contact ​onlinesupport@fitnessbank.fit​ if you’ve got an idea for a new Step Challenge.

Members can earn bonus steps in their ​StepBank​ for making referrals. These can be used toward an average daily step count or to purchase FitnessBank merchandise, dispensed at the user’s discretion. ​To connect with other dedicated FitnessBank members with goals similar to your own, consider joining a group​.

How to Earn the Best Rate

The savings rate APY for a Fitness Savings account varies from individual to individual, but the rate you will earn is predictable. There are five different APY tiers available through the Fitness Savings account, and these, along with the step count required to qualify for them, are shown in the chart below.

Savings Account Rates

Daily Step RequirementAPY (Annual Percentage Yield)
0 – 4,9990.50%
5,000 – 7,4990.75%
7,500 – 9,9991.00%
10,000 – 12,4991.25%
12,500+3.50%
APY = Annual Percentage Yield

To put these yields into perspective, the current national average for a savings account and money market account sit at just 0.17% APY and 0.18% APY, respectively, according to FDIC data.

Senior Savings Rates

Any U.S. citizen over the age of 65 may apply for a ​Senior Savings Account​ with FitnessBank. The rates and step requirements for this type of savings account are:

Senior Fitness Savings Rates:

Daily Step RequirementAPY (Annual Percentage Yield)
0 – 4,9990.50%
5,000 – 7,4991.00%
7,500 – 9,9991.25%
10,000+3.50%

The foundation of FitnessBank is staying healthy, but that means something different for every age group. Because of this, seniors are held to different daily step requirements yet entitled to the same opportunities for high APYs. To earn the highest APY possible (3.50%), for example, people over the age of 65 have to take an average of 10,000 steps or more per day rather than 12,500.

Want an Extra 0.10%?

image credit: fitnessbank.fit

Fitness Bank now offers consumers a rewards checking account with a debit card that can be combined with the savings account to earn an extra 0.10% APY if qualifications are met, putting Fitness Bank’s top APY at 3.60%. Like the savings account, the checking account can also come as a Senior Checking account with the slightly lower step requirement.

The checking account itself also pays an interest on your balance if qualifications are met. These qualifications are:

  • Maintain 10,000+ steps per day (7,500 for those 65+).
  • 10 PIN-based or signature-based debit card transactions per month.

The top rate of 1.00% APY is paid on balances up to $25,000 if qualifications are met. All balances above $25,000 will earn just 0.25% APY if qualifications are met.

Rewards Checking Rate Tiers

Daily Step RequirementAPY
0 – 4,9990.10%
5,000 – 7,4990.10%
7,500 – 9,9990.10%
10,000 – 12,4991.00%
12,500+1.00%

To put these yields into perspective, the average rate paid on an interest checking account sits at just 0.04% currently.

Final Thoughts

For any ​already highly-active individual that is looking to combine their personal financial goals with their physical fitness goals, a FitnessBank savings account might be a great option. However, unless you are fully able and willing to commit to 10k steps per day (and have already proved this to yourself) then we would recommend looking elsewhere for an online savings account as you can likely find a better APY with another online institution.

FitnessBank is a fintech firm, so it’s part of a field that’s at the forefront of melding technology with finance. If you prefer your banks to be more traditional and well-established with brick and mortar locations, then you’ll want to look into other options as well.

SmartyPig Savings Account – Up to 2.25% APY


[📌 Update September 2022: Despite being a rate leader when rates were low last year and in early 2022, the SmartyPig savings account by Sallie Mae hasn’t been able to raise their rates quickly enough to keep up with many of the top yielding, FDIC-insured online savings accounts on the market today. See rates below.]

image credit: smartypig.com

Sallie Mae might be known best for its private student loan operation, but did you know they also sell competitive deposit products – and have been since 2005?

Sallie Mae Bank was named a top bank of 2020 by GOBankingRates for its rewarding and accessible savings accounts. Sallie Mae deposit products — which include savings accounts, money market accounts, and CDs — have fairly high interest rates without any of the tedious restrictions or fees associated with many banks.

Among Sallie Mae’s suite of FDIC-insured deposit products, the SmartyPig savings account is a particularly popular choice. 

The SmartyPig savings account has unique set of tools and generous APY (annual percentage yield) that benefit savers who fit one of the following profiles:

  1. new savers,
  2. individuals that need to get into the habit of regularly saving,
  3. people with financial goals that could use some help with organization and/or motivation,
  4. people who want to earn a competitive interest rate.

If you’re considering the SmartyPig Savings Account, you’ll want to read our comprehensive review of their product, its tool set, the current rates and potential bonus offers.

SmartyPig Interest Rates + Account Details

The interest earned from your SmartyPig account compounds daily and credits monthly. Your funds are FDIC-insured up to $250,000 per individual or $500,000 per joint account. See the table below for current rate tiers.

SmartyPig Savings Rates

BalanceAPY
$0.01 – $2,5002.25%
$2,500.01 – $10k2.25%
$10,000.01 – $50k2.15%
$50,000.01 +2.10%
APY = annual percentage yield

To give the yields above some perspective, the national average for:

  • a savings account sits at just 0.17% APY,
  • a money market account sits at 0.18% APY
  • and an interest checking account sits at a paltry 0.04% APY, according to FDIC data.

That said, following the FED third consecutive rate hike of 0.75% this summer on September 21st, some of the top yielding online savings accounts and money market accounts are now approaching the 3.0% APY mark.

The account comes with no minimum opening deposit requirement or minimum balance requirements. Plus, you’ll never be charged monthly maintenance or low balance fees.

There are also zero penalties for failing to meet a savings goal by the target date you’ve set. If this happens, just log-in to your account and change the target date. You may also transfer the sum to a different goal.

Once a goal has been reached, automatic transfers put toward that goal will be halted, but you will still earn the advertised rate on your sum.

Account transactions may not exceed 6 per statement cycle, per federal regulation D. Excessive withdrawals will not be permitted, but you will not be charged for attempting them. Just avoid them so that your account is not closed.

Account balances may not exceed $250,000 unless direct deposits over this maximum are automatically made, in which case greater balances will be accepted.

What is SmartyPig

SmartyPig is a free online, high-yield savings account available through Sallie Mae Bank.

It is FDIC-insured up to the federally allowed limit of $250,000 and available to any U.S. citizen over the age of 18 with a social security number and an external account that can fund it (more details on eligibility requirements below).

Advertised as an online “piggy bank,” this nontraditional savings account is intended to help you save for various achievable financial goals. It does this by giving you a user-friendly platform through which you can organize your goals and track your progress. The key features of this account that enable your savings to build are:

  1. Automatic transfers. Once you’ve set up a new savings goal, say for a downpayment to a car, you then set up automatic transfers from your external checking account that slowly seed this initiative.
  2. Fantastic APY. The money that gets auto-transferred to fund your goal earns a phenomenal APY that sits well above the current national average for a savings account.

The philosophy behind this account is that concrete goals are easier to save for than saving just for the sake of saving, which can feel daunting and at times unrewarding.

How to Open a SmartyPig Account

Opening a SmartyPig savings account is simple and painless.

Just visit the SmartyPig website (note this is a separate domain and not the Sallie Mae website) and click “Start Saving” in red on the home screen.

From there, go through the 4-step registration process that will ask you for your personal information, social security number, and driver’s license number. 

As soon as your account is ready to go and your chosen external account is linked, you can fund it with as little as a penny to begin earning interest and creating savings goals.

Schedule monthly or biweekly recurring contributions from your external account into whichever goal(s) you choose.

Almost anyone qualifies for a SmartyPig account. You just need to be at least 18 years old and have an external checking or savings account that you can use to fund your Savings Goals. You also need to be a U.S. citizen, resident with a social security number, or permanent U.S. resident alien with a green card or social security number to open an account. 

If you have issues setting up or servicing your account, call customer service at (811) 751-6884 during their business hours of 8 AM to 8 PM Eastern Time Monday through Friday or send a secure message through the Message Center (if you already have an account).

Setting Up SmartyPig Savings Goals

What makes the SmartyPig account unique is the savings goal feature. A simple interface that allows you to set up specific goals and then fund them in an ongoing and manageable way.

These goals are flexible and can be tweaked or canceled at any time, and money can be moved between goals as you please. The balance of your entire account will earn interest regardless of your progress toward goals or how many goals you have set up. 

Each distinct savings goal must be for at least $50 but not greater than $250,000. Recurring contributions, which may be monthly or biweekly, need to be equal to at least $10 but not greater than $50,000. You need to link 1 and only 1 external funding source, either a checking or savings account, to fund this account. This account is not a bank but a savings vehicle that earns interest and is not meant to replace a savings or checking account.

SmartyPig Bonus Offers

SmartyPig Savings Accounts have a few other perks built in that many savings accounts do not, including opportunities for referral bonuses and a bonus redemption program through Amazon. Refer a friend to SmartyPig and earn a reward of $10 once they successfully open and fund a new savings account. 

SmartyPig is partnered with Amazon, which makes it possible for you to order Amazon gift cards valued anywhere from $5 to $500 using SmartyPig funds. This isn’t an exceptional offer but it would allow you to save some time if an item you’re putting money towards is available for purchase through Amazon.com. This would simply allow you to buy it instantly once your goal is reached rather than having to wait for a transfer to your external funding account to post.

Bank of America $100 Checking Account Bonuses [2022]


[📌 Update August 2022 – Originally set to expire in June of 2022, Bank of America has extended their $100 bonus for new checking account customers through the end of the year. See details below.]

Bank of America is known for throwing around cash bonuses to incentivize new account sign-ups. Today, they offer only one noteworthy promotion: $100 for new checking account customers.

In this review, we will go over which accounts are eligible for the $100 bonus and how to qualify for it as a new customer.

Which Bank of America checking accounts are eligible for a $100 Bonus

Right now, three different Bank of America checking accounts are offering a $100 signup bonus to new customers. These are:

  1. Bank of America Advantage SafeBalance Banking account
  2. Bank of America Advantage Plus Banking account
  3. Bank of America Advantage Relationship Banking account

The three eligible checking accounts offer different features and have different requirements for waiving monthly fees. We’ll dig into these after covering how to get the bonus for all three.

How to Get the $100 Bonus

The requirements for getting the $100 sign-up bonus are the same for each of the three accounts.

Valid through December 31, 2022, you don’t want to sleep on this bonus if you’re already planning on joining Bank of America and opening a checking account. Remember that you can’t qualify as an existing customer no matter what kind of account you have with Bank of America.

Here’s what you need to do: 

  1. Use this link to access the offer.
  2. Open one of the three Bank of America Advantage Checking accounts (SafeBalance, Plus, or Relationship).
  3. Use the offer code DNL100CIS when opening.
  4. Set up and receive qualifying direct deposits totaling at least $1,000 within 90 days of enrolling.

Bank of America Advantage SafeBalance Banking Account

The Bank of America Advantage SafeBalance checking account, advertised as the “check-less banking account that helps you stay within your balance,” is good for those that may need help saving and want the accountability of overdraft prevention. A minimum deposit of $25 is required to open this account.

The primary feature here is that rather than charging you a fee when you overdraw your account, transactions will simply be declined or returned unpaid if you do not have the money available. Because this account doesn’t permit overdrawing, it also doesn’t charge an overdraft fee.

A monthly maintenance fee of $4.95 will be assessed if you do not meet the single criterion for having it waived, which is simply to enroll in the Preferred Rewards program. This is an elite eligibility program offering additional benefits such as interest boosts and fee reductions to clients with an eligible checking account and a 3 month combined average balance of $20,000 or more across all BofA banking and investment accounts.

This fee will also be waived for students enrolled in high school, college, a university, or vocational school that are younger than 25 years old. 

Other fees to look out for include a $5 paper statement fee, a $15 fee for incoming domestic wire transfers and a $30 fee for outgoing, and a $12 fee for each returned domestic deposit. See the clarity statement for this account for a complete list of fees.

With a SafeBalance Checking account, you will be able to make payments via a debit card, online or mobile transfer (Zelle), or through online/mobile bill payment.

Remember, this basic checking account does not have check-writing capabilities (and if you do try to write a check, it’ll be returned unpaid). There is no fee when you make transactions through a Bank of America ATM, but you will be charged a $2.50 fee for using out-of-network ATMs in the U.S. and $5 for using out-of-network ATMs outside of the U.S.

Keep in mind that though Bank of America won’t charge you for attempting to overdraw this account (because it doesn’t allow overdrafts), third parties might. Set up email or mobile alerts with BofA when your account balance gets low if you’re worried about this.

With this and each checking account to follow, you’ll be able to enroll in fraud protection, make mobile check deposits, and bank digitally online or through the Bank of America mobile app.

Bank of America Advantage Plus Banking Account

A Bank of America Advantage Plus Banking account is more of a standard checking account option than the SafeBalance account and requires a $100 opening deposit.

It comes with a $12 monthly maintenance fee, but this can be waived in one of three ways:

  1. By linking a direct deposit of at least $250,
  2. Maintaining the minimum average daily balance requirement of $1,500, or
  3. Enrolling in Preferred Rewards (see above section for details about this program).

If you choose to set up direct deposits into this account, they must be for $250 or more (each).

This account also waives the fee for students under the age of 24.

Unlike the SafeBalance account, you may write checks with Advantage Plus. Please see the Advantage Plus account clarity statement for more information about check writing.

This checking account does allow overdrafts, unlike the previous option, and you will be charged $35 for each overdraft item. ATM withdrawals will not be permitted when you have an insufficient balance at the time of a transaction.

Overdraft Protection

If you enroll in an Overdraft Protection plan, you can avoid the possibility of withdrawing outside of your means and being charged for it. The three Overdraft Protection plan options allow you to withdraw funds from another deposit account (Balance Connect), from your credit card, or from your line of credit to prevent you from overdrawing your checking account.

Overdraft Protection from another deposit account will enable BofA to automatically transfer available funds from one of your other accounts when an overdraft is attempted.

Overdraft Protection from your credit card will automatically advance available funds from the linked credit card as long as it is in good standing.

The final option, Overdraft Protection from Your Line of Credit, will automatically advance funds from your linked line of credit as long as this does not cause you to exceed your available credit. Please note that Overdraft Protection transfers incur a fee of $12 each.

You can use overdraft protection for up to five accounts.

Bank of America Advantage Relationship Banking Account

Finally, there is the Bank of America Advantage Relationship checking account. This option is generally best for higher net worth individuals. This is an interest-bearing checking account that may qualify you for fee waivers on other BofA services, but you’ll need to maintain a high balance of $10,000 to avoid the monthly fee.

Right now, this checking account is currently earning an APY of 0.01% on balances less than $50,000 and 0.02% on balances of $50,000 or more. This rate is not fixed or guaranteed and the minimal interest you earn is credited and compounded monthly.

There is a $25 monthly maintenance fee tied to this account that can be waived by:

  1. Maintaining a combined balance of at least $10,000 or more in eligible linked BofA accounts. Combined balances include average daily balance in BofA checking and savings accounts AND current balances in CDs, IRAs, AND current balances in Merrill investment accounts.
  2. Enrolling in Preferred Rewards (see above section for details about this program).

ATM withdrawals from insufficient funds will not be permitted. The overdraft item fee is $35 as it is with the other two accounts.

You may also choose to enable Balance Connect overdraft protection to connect up to five accounts to help cover transactions that would overdraw available funds for this account. Linking your own checking and savings accounts to cover your overdrafts can help you avoid overdraft fees.

Final Thoughts

Bonus offer aside, these checking accounts are decent and suitable for large segments of the population.

They’re about as flexible overall (with the SafeBalance being the most rigid) as your average checking account from any big bank. Like Chase and Wells Fargo, they require average daily balances and will charge monthly maintenance fees if these aren’t met.

That said, if you choose the checking account that makes the most sense for you based on your income, you should be able to avoid these fairly easily.

If you’re still not sold on a checking account with Bank of America, you may want to check out the cash promotions going on at Wells Fargo and Chase Bank to see how they compare.

Chase Checking Account Bonuses: $100 – $300


If you’re a new Chase customer opening a College, Total, or Business Complete Banking checking account, you qualify for a welcome bonus offer of $100, $200, or even $300, respectively. Yes, up to $300.

There are pros and cons to each of these accounts, so you’ll want to learn more about the options before you decide.

Read more about these bonuses and how to get them, plus review the checking account terms, potential fees and how to avoid them in our guide below.

Chase College Checking Account + $100 Sign-Up Bonus

A Chase College Checking account is perfect for students ages 17 to 24 years old.

They’re fairly basic and don’t come with many bells and whistles. They do, however, offer a safe place to stash cash while in school and with great accessibility.

This account does not require a minimum opening deposit to open and a $6 monthly maintenance fee can be waived. See section below for details.

To open one of these, you’ll need to prove that you’re a student at a college or university with a transcript or acceptance letter. You’ll also need to have a Social Security number (if you don’t, visit a branch to discuss your options). This account can be opened online or in person.

How to waive the $6 monthly fee?

The $6 monthly maintenance fee associated with this account can be waived by doing just one of the following:

  1. prove that you are a college student by providing your student ID, college name, and expected date of graduation (waive the fee for up to 5 years),
  2. set up an electronic deposit into this account (such as ACH transfer or direct deposit), or
  3. maintain an average daily balance of at least $5,000.

This account (and all other Chase checking accounts) offer Overdraft Protection through standard overdraft practice.

If you choose to opt into this, you must link your checking account to your Chase savings account. Then Chase will make payments for you from the savings account when you overdraw your checking account. Note that this is done at their discretion and there is no guarantee it will happen every time.

In the event of an overdraft, you will incur a $34 fee. You will also incur a $34 fee every time a check or automatic payment is returned due to insufficient funds.

Chase also offers Debit Card Coverage, which, when activated, will decline transactions—without charging a fee—that would cause your account balance to go negative. Sign up for account alerts when your balance gets low and opt into this Debit Card Coverage if you’d like to avoid declined payments or overdrafts and the fees that come with them.

Other fees associated with this account include:

  • $15 per incoming wire transfer,
  • $35 per outgoing domestic wire transfer,
  • $12 returned check fee,
  • $2 for each page of printed personal checks. 3 per page.
  • $2.50 charge for out-of-network ATM usage.

See this ​deposit account agreement​ for a complete list of fees for all accounts

How to qualify for the bonus:

To qualify for the $100 bonus, make sure you make 10 qualifying transactions—such as purchases with your debit card, QuickDeposits, online bill payments, etc.—within 60 days of opening the account and using the welcome coupon from this link to access the offer. You must open your new account using this coupon by October 19, 2022, to qualify for the bonus.

Chase Total Checking Account + $200 Sign-Up Bonus

The Chase Total Checking account is one of the bank’s more popular deposit products. And from now until October 19, 2022, this account features a $200 sign-up bonus for new customers.

How to qualify for the bonus:

Get $200 when you open a new Chase Total Checking account and set up direct deposit within 90 days of coupon enrollment (using the coupon code you receive through this link to register for an account).

To earn the $200 bonus you will need to set up a direct deposit to this account within 90 days of opening it. This direct deposit must come from an employer, government agency in the form of benefits (social security) or pensions. Person-to-person payments are not considered direct deposits.

The direct deposit requirement to earn the cash bonus is often the largest ‘catch’ for offers like these. Many other banks have similar terms for their bonuses.

Fees and how to avoid them:

This account has a $12 monthly service fee that you can avoid by meeting one of the following criteria:

  1. setting up electronic deposits totaling $500 or more,
  2. maintaining an average daily balance of at least $1,500 in just this account, or
  3. maintaining an average daily balance of at least $5,000 across all linked deposit and investment accounts.

The insufficient funds and returned item overdraft fees of $34 each apply to all Chase checking accounts, and so does Debit Card Coverage, if you choose to use it. Overdraft protection options are also the same on all accounts.

This is a standard checking account, which doesn’t earn interest.

Chase Business Complete Banking + $300 Sign-Up Bonus

The Chase checking account that will give you the highest signup bonus—$300—is the Business Complete Banking checking account, which offers business features such as Chase QuickDeposit and QuickAccept. QuickAccept allows you to accept and manage payments for purchases. You can also:

  • Issue refunds
  • Track disputes
  • Accept contactless or manual payments through the Chase app
  • Receive same-day deposits

Fees for this service are 2.6% + $0.10 for transactions that are tapped, dipped, or swiped and 3.5% + $0.10 for transactions that you enter manually from the Chase app.

How to qualify for the bonus: 

Because this is a business account, the requirements for receiving the bonus are a bit different than the other two accounts we’ve featured so far. 

To qualify, you must deposit at least $2,000 in new money into this account within 30 days of opening and maintain this balance for at least 60 days. You must also make at least five qualifying transactions (which include debit card purchases, QuickAccept deposits, ACH transfers, wires, and bill pay.

Once these requirements are met, the $300 bonus will be directly deposited into your account within 15 business days.

This bonus offer is valid now through October 19, 2022. You must use this link to get your sign-up coupon code and receive the bonus after reaching the requirements.

Fees and how to avoid them: 

This account’s $15 monthly maintenance fee can be avoided by:

  1. Maintaining an average daily balance of at least $2,000
  2. Making at least $2,000 in transactions using your Chase Ink Business credit card
  3. Receiving at least $2,000 in deposits from QuickAccept transactions or payments from a third party platform
  4. These qualifications must be met every statement period.

You can also avoid this fee if you are an active-duty U.S. service member (must provide identification as proof) or Chase Private Client.

If you are the owner of a Chase Business Complete Banking checking account, you’ll have:

  1. Unlimited electronic deposits, ACH transfers, and Chase QuickDeposit transactions,
  2. Free check monitoring services,
  3. Account activity alerts.

About Chase Bank Checking Accounts + Customer Sentiment

The Chase checking account options range from the very basic but less rewarding College checking account, to a benefits-packed Business Complete Banking account. All three options have their advantages. The majority of customers opt for a Total checking account, but Chase has an account that’ll work for nearly anyone.

Please note that there are even more Chase checking accounts to choose from, but these are the most popular accounts and the ones that most frequently offer signup bonuses.

This bank is very good at meeting its clients’ needs according to review agencies.

According to a study conducted by J.D. Power in 2019, Chase scored 846 on a 1,000 point scale in customer satisfaction and was tied for 2nd in a ranking of banks with the highest overall satisfaction score (the national average is 838).

Per this press release:

“Customers of Chase recognize the bank for providing innovative technology, having the lowest incidence of problems, and high satisfaction associated with credit cards and ATMs.”

As one of the largest and highest-asset banks in the U.S., it should come as no surprise that Chase has thousands of ATM and branch locations across the country. As of March 2022, there are over 17,000 ATMs with 5,100 Chase branches.

It’s also worth noting that the Chase mobile banking app is superb. It is easy to navigate and allows you to do anything you may need to do, from account management to getting help with a question. Across the millions of Apple and Android customers that use this app the vast majority are happy with it – scoring a 4.8 star and 4.4 star rating, respectively. This cannot be overstated, as many much less popular banking apps receive lower ratings.

Final Thoughts

Chase Bank offers far-reaching access through their branches and ATM networks, comprehensive online banking and mobile app features, and cold hard cash for new accounts.

Just remember, these three bonus offers are not available to existing Chase customers. But if you are new to Chase and in need of a checking account, you’ll likely find a home with one of these accounts.