Anyway, my needs for this account are pretty simple:
- Minimal opening balance – I won’t be transferring in $1,000 on opening day. I’ve got better uses for that money than keeping a checking account open, no matter how good the account looks. A $1 opening balance would be perfect.
- No monthly fees regardless of balance – this account will never hold a substantial level of money, as it’s just a checking account. If it ever holds a substantial amount, it won’t be for long as there are certainly more appropriate vehicles to earn a little interest on that excess balance.
- Debit Visa/Mastercard linked to account; no need for physical checks – I have no need for the ability to write a physical check. Everyone who needs to receive payments via this account is able to take a credit card. And really, what business other than the smallest can’t anymore?
- A money-market account that meets the above criteria may do the job fine – I don’t foresee doing more than a handful of transactions a month. My cursory look didn’t show any that specifically said they offered a debit Visa/Mastercard attached though…
Anyone have a recommendation?
[tags]checking account,money market,debit,online banking[/tags]