What is an interest-bearing checking account?
What are the benefits?
There are several key advantages to opening an interest/dividend checking account:
- Accessibility of funds. Unlike a savings account, the funds in an interest-bearing checking account can be accessed at any time via debit card, paper checks, automatic electronic payments, and online bill payments.
- Interest. Interest will accrue on the account balance and be paid out monthly.
- Security. Tyndall is insured by NCUA.
- No fees. Tyndall's Smart Checking account has no fees!
- Banking benefits. Tyndall's Smart Checking account includes online banking, overdraft protection, mobile banking app, automatic payroll deductions, and more. You can also open a smart checking account online!
What are the disadvantages?
Interest-bearing checking accounts do have some disadvantages compared to traditional checking accounts. Some require you to pay a small monthly maintenance fee, but with a Tyndall Smart Checking account there are no monthly maintenance fees.
Why would a consumer choose an interest-bearing or dividend-bearing checking account over a savings account?
Learn more about Tyndall's Smart Checking account and begin earning today!
* $50 offer is available for new or current members who do not have a Checking Account (Smart or Classic), open a Smart Checking account from May 15, 2022 - September 30, 2022 and complete the qualifying criteria. Criteria: 1. Set up bill pay and pay 4 bills in a 2 month period (from date account is opened). 2. Must deposit (direct deposit, mobile deposit, or ATM deposit) a total of $500 in a 2 month period (from date account is opened). Offer not available to any current member who has a Classic or Smart Checking account; converted accounts do not count. $50 offer will be deposited into your Smart Checking account 90 days after completing the qualifying criteria. You must be 13 years of age to open a Smart Checking Account. In order to open an account for members who are under the age of 18, an adult joint owner is required on the account. Membership required; NO membership fee applies.