With many Americans doing a much better job of saving their money after the “Great Recession” it is no surprise to see a large number of searches for a high yield savings account. ?There are many local community banks that are currently offering a checking account that yields a rate higher than 4%.


Before assuming that this checking account is accessible to everyone it is very important to understand that most local community banks only offer applications from individuals with residency in specific counties. ?If you do not have residency in a specific county then there is a good chance you cannot apply for a high yield checking account.

It would be wise to research banks in your specific area before broadening your search. ?Make sure to realize that it will also be the case that these local community banks are not going to have branches throughout the country so if you are a traveling you may need a checking account from a national bank as well.

Author: Heather Best