My daughter graduated from college last spring with a degree in accounting and landed a great job with a very impressive salary that included a recent raise. Knowing she has always been very responsible, I was sure she would be looking for a place to store some of that nice raise of which she was so proud. Being the wise beyond my years Dad that I am, I shot her an email with a referral link to open a savings account at ING Bank paying 2.5%. For those of you not familiar with ING Bank, they are an online bank with very competitive savings and checking account rates.

Well, it was not long before I received a reply that I was sure would be thanking me for that great advice and bragging about how smart and great a Dad she has. I could not have been more wrong. She was quick to point out that she received a better rate (4.01%) than that for her checking account at a local bank. Not to be out done, I shot back a scathing reply requesting the name of the bank since I have been considering moving my checking accounts because I am not totally happy with my present bank.

Since being schooled by my daughter, I was able to open a new Rewards Checking account online at 'RENASANT BANK'. Renasant Bank is based in Tupelo, MS, and has branches in Alabama, Mississippi and Tennessee. If you live in one of those states, you might check to see if they have a branch near you and consider opening a checking account that offers very competitive rates. I have listed the features and requirements of the account below. If you can not meet these requirements, they have a Totally Free Checking account without the requirements necessary to benefit from the Rewards Checking.

Features:
Earn 4.01% APY* on balances up to $25,000
Free ATMs nationwide
No minimum balance, low opening balance of $50
No maintenance fees
Free Internet banking and Bill Pay
Free Visa Check Card

Simply do the following during each monthly statement period:
Make at least one Direct Deposit or ACH automatic payment
Receive your monthly statement electronically
Make at least 10 debit card transactions (excluding ATM transactions)
Log on to Renasant's free Internet Banking

If you are not near a Renasant Bank, check with the banks in your local area and I bet you can find a bank paying similar rates.