Put Your Money to Work: Best Investment Checking Account

Making your money work for you is a cornerstone of financial success. In today's fast-paced world, it's essential to maximize the returns on your hard-earned money. One way to do this is by choosing the best investment checking account.

These accounts offer a unique blend of accessibility and growth potential, ensuring that your funds are not just sitting idle but are actively contributing to your financial goals.

Keep reading to learn more about how you can invest with a checking account, what an investment checking account is, and why it might be considered an investment.

Can You Invest with a Checking Account?

You might wonder, can you really invest with a checking account?

The answer is yes, though it works differently than traditional investment vehicles like stocks or bonds. A checking investment account typically offers a higher interest rate than standard checking accounts, allowing your balance to grow over time. Sometimes these accounts even come with other benefits that enhance their value.

While these accounts don't replace dedicated investment accounts like IRAs or 401(k)s, they provide a way to earn more on your everyday funds. By selecting the best investment checking account, you can ensure that your money remains accessible while still generating some returns.

This approach is particularly beneficial for those who maintain significant balances in their checking accounts and want to avoid missing out on potential earnings.

What is an Investment Checking Account?

An investment checking account, sometimes referred to as a checking investment account, combines the liquidity of a checking account with some of the earning potential of an investment account.

These accounts typically offer interest rates higher than those of regular checking accounts, making them a more attractive option for individuals who want to keep their money accessible while still earning some interest. By taking advantage of investment checking accounts, you can effectively increase the overall return on your checking account balance.

The best investment checking accounts are designed to provide a balance between accessibility and growth, ensuring that your money is working for you even when it's not being actively invested in the stock market or other high-risk ventures.

Is a Checking Account an Investment?

This question could be controversial, but the answer largely depends on how you define "investment." Traditionally, investments are financial products or assets that you purchase with the expectation that they will generate income or appreciate in value over time. By this definition, a checking account might not qualify as an investment.

However, a non-interest bearing checking account is still considered an investment. This is because it serves as a safe place to store your money while keeping it readily accessible for everyday expenses. Additionally, many checking accounts -- especially those designed as investment checking accounts -- offer features that provide some level of return on your balance.

For instance, if you choose a checking investment account with a higher interest rate, your balance can grow over time, though more slowly than with traditional investments. This incremental growth can be particularly advantageous for those who maintain high balances in their checking accounts or use their accounts frequently for transactions.

Academy Bank's Elite Investment Checking Account¹

Academy Bank is proud to offer an investment checking account: Elite Investment Checking.¹ This account is designed to offer both convenience and growth potential, making it an excellent choice for those looking to get the most out of their checking account investment.

Is Elite Investment a checking account or savings account? Elite Investment Checking¹ is a tiered-earning account, which means that the rate of return rises as your balance rises.

Key Features of Elite Investment Checking:¹

• Earn Increasing Interest: Earn increasing interest¹ depending on your balance.
• Special Loan Discounts: Enjoy special loan discounts, including a $250 discount on mortgage closing costs.
• No Fees: No fees on money orders or cashier’s checks.

What You Get with Elite Investment Checking:¹

• Mobile Banking: Access mobile banking and check deposit.^2,3
• Early Pay: Get paid one day early with Early Pay.⁴
• Complimentary Checks: Receive complimentary standard checks.
• Free Statements: Access free paper statements and eStatements.
• ATM Access: Access to 38,000+ ATMs through MoneyPass.⁵
• Debit Card Alerts: Receive VISA debit card usage alerts.
• Saving Cents: Eligible for Saving Cents, which rounds up your debit card purchases automatically and puts the change in your savings.
• Referral Rewards: Refer friends and get rewarded. Earn $50 for you and $50 for them.^{2, 7}

The Elite Investment Checking Account¹ has a $100 opening balance requirement. To avoid the $20 monthly service charge, you must either maintain a daily balance of $5,000 or an average balance of $10,000 each statement cycle. Additionally, closing new accounts within 90 days of opening will result in a $20 early closure fee. You can also add cash to your account from thousands of retailers using Cash2DebitTM.^{TM 6}

Make Your Money Work for You

Selecting the best investment checking account is a smart move for anyone looking to make their money work harder. Whether you're interested in earning higher interest or simply keeping your funds accessible while they grow, an investment checking account like Academy Bank's Elite Investment Checking¹ can help you achieve your financial goals.

Ready to get started? Visit a branch or apply online in minutes.

 

 

 

Member FDIC

 Closing new accounts within 90 days of opening will result in a $20 early closure fee.

 ¹ $100 opening deposit required.  $20 monthly service charge applies unless a $5,000 daily balance or $10,000 average monthly balance is maintained. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. The Annual Percentage Yield (APY) shown is accurate as of 7/24/2024. The interest rate may change after the account opening. Fees may be charged to the account, which could reduce earnings on the account. If the account is closed prior to the interest payment date, no interest will be paid.

 ² Message and data rates charged by your mobile phone carrier may apply.

 ³ Deposits are subject to verification and not available for immediate withdrawal. Deposit limits and restrictions apply.

 ⁴ Direct deposit required. Maximum ACH credit is $15,000.

 ⁵ No fees for withdrawals, transfers, balance inquiries or denied ATM transactions at ATMs in the MoneyPass® Network if you have a MoneyPass® logo on the back of your card. MoneyPass® Network ATMs are within the U.S. only.

 ⁶ A $4.95 fee may apply. Deposit limits and restrictions apply. Not available in Vermont. Ask an Academy Bank associate for details. Not available at self-checkout.

 ⁷ Terms and Conditions apply. Refer Live.