[TX, NV, MI] InTouch Credit Union High Yield Checking Account – 6.17 % APY On Balances Up To $30,000

Update 3/12/23: Maximum rate now 6.17%

Update 9/28/22: Maximum rate has been increased to 5% from 4.07%

Update 10/18/19: Rate has been decreased from 4.59% to 4.07% for the maximum rate.

Offer at a glance

  • Interest Rate: Up to 4.07% APY
  • Minimum Balance: None
  • Maximum Balance: Up to $30,000
  • Availability: Must live, work or worship in one of the following counties:
    • TX: Collin, Dallas, Denton
    • NV: Enterprise, Henderson, Las Vegas, N Las Vegas, Paradise, Spring Valley, Summerline South, Sunrise Manor, Whitney, Winchester
    • MI: Oakland
  • Direct deposit required: No
  • Additional requirements: Debit card purchases, see below
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: $9, avoidable
  • Insured: NCUA

The Offer

Direct link to offer

  • InTouch Credit Union offers a high yield checking account offering up to 4.59% APY on balances up to $30,000. The interest rate you receive will depend on how much you spend on your debit card monthly.
    • Tier 1: $500.01 – $749.99 (0.25% APY)
    • Tier 2: $750.00 – $1,499.99 (0.75% APY)
    • Tier 3: $1,500.00 – $2,499.99 (1.75% APY)
    • Tier 4: $2,500.00+ (5% APY)


Avoiding Fees

This account has a $9 monthly fee, this is waived if you complete at least $500 in debit card transactions.

Our Verdict

The only tier that is worth considering is tier 4 and that requires $2,500 in debit card purchases. If you put that $2,500 debit card spend on a credit card earning 2% cash back you’d earn $50 monthly. If you had the full $30,000 deposited and compare to another high yield account earning 2.5% you’d earn $52.25 so you very slightly come ahead but in reality most people would be putting that $2,500 in spend towards minimum spend requirements/category bonuses. I guess this account could still be interesting if you have a lot of spend that could be put on a debit card, but not on a credit card but that’s a fairly niche use.

Hat tip to reader Spartan24


Source link

What do you think?

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

Seattle – Charleston, South Carolina (and vice versa). $258. Roundtrip, including all Taxes – The Flight Deal

Dallas – Las Vegas (and vice versa). $138 (Basic Economy) / $198 (Regular Economy). Roundtrip, including all Taxes – The Flight Deal