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Looking for a place to park business funds during idle times (balances >$400k), and was wondering if there are checking accounts out there with good interest rates (around 1%?) on high-balances. Most I've seen in the other thread were on balances under $10k or $25k. Any help is greatly appreciated, thanks!

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Bank of the Internet seems to offer 1.01%, but there are fees all over the place:

https://www.bofifederalbank.com/BofiFederalHome/BusinessBanking/...

I recommend that you find two options, so that you can get FDIC insurance on the entire amount. If you are a sole proprietor, business checking balances are counted as if they are personal assets for FDIC purposes (regardless of if you have a business name on the account):

http://www.fdic.gov/consumers/consumer/news/cnwin1112/smallbusin...

Look to Kasasa:

http://www.kasasa.com

You're right in that most account only cover the first 10-20K...though in your area you might find a place that does up to 1.5-2% on 50K.

You might be able to split the accounts up into 3 or 4 banks. More work involved, but do you really want 400,000 in a single account for FDIC purposes?


This looks like a way to earn some serious airline miles on it.

http://www.aa.com/i18n/AAdvantage/earnMiles/beyondTravel/financi...

^The above link isn't working.

Presumably he's referring to this:

http://www.bankdirect.com/programs/aadvantage.aspx

CapitalOne high yield checking will give you 1% guaranteed for a year for $100k of your funds. Different from the CapitalOne 360 referenced earlier.
Linky

BenH said:   Look to Kasasa:

http://www.kasasa.com

You're right in that most account only cover the first 10-20K...though in your area you might find a place that does up to 1.5-2% on 50K.

You might be able to split the accounts up into 3 or 4 banks. More work involved, but do you really want 400,000 in a single account for FDIC purposes?


Farmers Citizens Bank Kasasa Cash and Kasasa Savings (regional bank, I don't know sign up restrictions if any):

Kasasa checking- 1.81% up to 25k
Kasasa savings- 1.56% up to 100k (meeting the qualifications for the checking automatically qualifies the savings)

12 debit signature transactions, 1 billpay OR DD.

That covers $125k. That.s the best I know.



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