April 24, 2013 by Bill Johnson
An interest bearing checking account is extremely important if you are trying to grow your money as thoroughly as possible. In today’s economy, everyone should be attempting to accomplish this. The following countries provide some of the best chances for you to grow and protect your savings.
If you are looking for personal checking accounts, you might wonder exactly what a checking account can actually do for you. There are many different kinds of accounts out there, and the benefits of your different options vary greatly. One of the biggest things you should look for in a checking account, however, is an interest rate being returned to you. Not all banks will offer this, and usually it’s only to select few customers, but still, if you can get this, you need to capitalize upon it. This can help you to keep money flowing into your pocketbook on a monthly basis.
Here are five countries that have notably high interest rates for their checking accounts.
1. The United States. This is an obvious place, but you do need to be aware of the fact that not all checking accounts bear interest upon them. Also, these accounts will sometimes only pay interest up to a certain amount, usually around $25,000. So if you have a larger checking account than this number, not all of your saved money will see interest being applied. In short, you will want to find the interest bearing checking account with the lowest minimum balance and the highest cap possible.
2. Switzerland. Another obvious banking powerhouse, Swiss banks offer some of the best terms for their clients. If you have a checking account and you are looking for some of the best terms on the planet, a Swiss personal account can be a big help for you. Banking is one of the biggest industries in Switzerland, employing about 5 percent of all the working population. As a result, Swiss banks offer some of the highest quality banking products in all of Europe and even the rest of the world.
3. Australia. Australian mutual banking is quite popular down under. Akin to credit unions, these banks are able to offer extremely competitive terms for their customers and even offer some of the best rates for checking accounts that you can find. Australia might not be famous for its banking like the Swiss banks are, but this does not stop them from offering very high quality banking products for their clientele.
4. Japan. Japan is one of the most productive nations in the world when it comes to banking. Some of the wealthiest banks in the world reside in Japan and as such, some of the most high quality checking accounts can be found here, too. Still, if you plan on doing business here, you will need to search around to find the best type of account for your needs as there are many different banks competing for business.
5. Germany. The German banking industry has a long and storied tradition. There have been high class banks in Germany for many centuries and they have some of the most highly leveraged positions in all of Europe. This gives them more sway in banking matters. If you are thinking of opening up personal checking accounts in Europe, this is a good place to start your search.
This article was written by Katlyn Renner, an economist and Massachusetts resident with an interest in the banking sector. Katlyn believes strongly that banking with a local Massachusetts Bank will help our economy and give you the best personal financial options, including a basic checking account. The same is true of taking out mortgage rates or home equity loans; work with a local lender, and not a big national corporation.