Penfed Access America interest-bearing checking account

We have seen savings accounts, certificate deposits, money market accounts etc paying monthly dividends but never heard of a checking account that pays monthly dividends with annual percentage yields on par with term CD rates. Penfed's Access America checking account just does that by paying superior dividends on daily balances. Annual percentage yield of 1.01% is paid for a daily balance of $20,000 or more up to $50,000 and 0.5% is paid for daily balance less than $20,000. Dividends are compounded daily and paid monthly. These dividend rates are lot higher than national average savings account rate and close to national average 5-year CD rate. 

This interest-bearing checking account comes with regular checking account goodies like 24/7 online and mobile banking access, free online bill payment, overdraft protection, access to over 56,000 free ATMs. Additionally, primary account holders get one year FREE identity theft protection service from Equifax - a $155 value and joint account holders may also sign up for the same outstanding protection service for only $2.95 per month. Best of all it is NCUA (National Credit Union Administration) insured, which means your deposit accounts are insured up to $250,000 should your credit union go under. Any catches? - direct deposits of $1,000 or more is required per statement cycle. Dividends are not paid if this direct deposit requirement is not met.

Penfed's Access America checking account is the right choice for anyone who is looking for a premium checking account that pays you back.

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