Bank checking accounts are notorious for paying little or no interest.  Since, checking accounts are a necessity for must consumers, the smart move is to keep just enough money in your checking account.  Keep the remainder of your emergency funds and funds for usual expenditures in a money market mutual fund or money market deposit account.  These accounts pay higher interest rates and you can transfer any amount of funds needed to write checks once or twice a month directly to your checking account.  Linking a high yield savings account to a checking account is one of the best techniques for maximizing yield while continuing to have unlimited access to your savings.

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