What is a High-Yield Checking Account?

If your checking account balance isn’t earning you anything, you’re leaving money on the table. With Gulf Winds High-Yield Checking, you could earn up to $400 more a year, turning your idle money into a fund that works for you. So, what does this mean?

What is a high-yield checking account? 

A high-yield checking account is an interest-earning account that allows you to make the most on your money. At any financial institution, this account comes with requirements. These requirements are measured by statement cycle, not calendar month. The requirements you meet each month, and the rate offered can change the amount of interest you earn. Rates can vary and are measured with APY.

What is APY? 

APY stands for Annual Percentage Yield. This is the actual rate of return on any interest-earning account. For example, if you deposit $1,000 in your Gulf Winds High-Yield Checking account with a 4.00% APY*, you’d earn about $40 on that amount. This gives your balance the opportunity to grow even more over time, ensuring your money is working as hard as you do. 

What are the requirements for a Gulf Winds High-Yield Checking Account?

To earn 4.00% APY* on your account balance with Gulf Winds High-Yield Checking, you must meet three simple requirements each month: 

• Have at least 12 debit card purchases post and clear 
• Have at least one (1) direct deposit or automatic payment post and clear 
• Receive your monthly statements electronically 

That’s how easy it is to earn more!

Aside from earning up to $400 bonus on your account balance, having a High-Yield Checking account with Gulf Winds offers other useful benefits for our members including tap to pay, no minimum balance or monthly fees, overdraft and fraud protection, and access to your money any time and anywhere with our Digital Banking and Digital Wallet. 

Open an account today to get the reward you deserve.

*The rate and Annual Percentage Yield (APY) stated for Share Draft Checking Accounts is declared by the Board of Directors and is subject to change at any time. Fees may reduce earnings. Qualifying transactions must post and clear the account during the monthly qualification cycle. Transactions may take one or more business days from the transaction date to post to an account from the date the transaction is made. Intra-bank transfers do not count as qualifying ACH transactions.

Account opening subject to approval. Monthly qualifications will be waived and earnings are automatically awarded during first month as High-Yield Checking account holder. All monthly qualifications need to be met following first month to receive all High-Yield Checking benefits.