2% Checking for Physicians

[conniebird]

Not sure if someone posted about this, but learned recently of Metropolitan bank in Tennessee - will give Physicians 2% interest up to 25K, after 25K, interest is 0.5%. A good place to stash part of your e-fund. I have not opened one yet - kinda hesitating due to mainly laziness - don't really want to deal with multiple accounts for the e-fund.

Holly Bronson  (901) 969-1860

https://www.metropolitan.bank/

No atm fees, send you free checks, all that good stuff.

No monthly fees if balance above $5,000

[conniebird]

Here's another bank someone just mentioned, requirements kind of kill it for me, but worth looking into:

 

3.51% !!!

 

https://www.vistabank.com/index.php/high-interest-checking-account-vistasmart/

[Craigy]

I wonder if these are worth the time/effort.

I frequently get these chase offers of $500 to move my money & direct deposit to their account for a minimum time period, am tempted, but then never do it.  Too much hassle.

[jhwkr542]

At some point, the complexity isn't worth it. That extra 1% gets you $250 a year on $25000 compared to ally. Similar to all the credit card churners. I prefer simplicity.

[Zaphod]

3.5% is no joke, but I wouldnt be able to do the 30 debits a month. I cant remember the last time I used a debit card.

[drcolleen]

Edited after reading some fine print on the VistaBank HI checking -- there is no way I could meet the requirements for the higher interest rate because let's face it who uses an ATM 30 times/month and changing your direct deposit is a PITA.  But putting some in Metropolitan $25k = $500/yr isn't bad compared to the Synchrony 1.05%APY=$262/yr  (Ally 1%APY = $250/yr) if you are willing to have multiple accounts and remember to periodically move the balance above the $25k back to whichever no limit high interest account you are currently using.

If this would let you feel comfortable about paying for 2-ply TP then it'd certainly be worth the effort in my book!! ha!