Maximizing Every Cent

Too many people have their money floundering around earning them no interest at all.

To maximize every cent I can, to try to break through the ceiling, I keep my cash holdings in the two best places I know.

1. Schwab Investor Checking Account
I no longer have a brick & mortar bank, instead all of my checking goes through my internet checking account with Charles Schwab. Here are the highlights:

• 4.25% interest on my money (highest I have seen- beats ING hands down)
• ATM reimbursement- unlimited reimbursement of ATM fees, I can use any ATM I want, and it will reimburse me the fees.
• No minimums, no requirements (they do force you to sign up for a brokerage account-but you don't even have to put any money in it)
• Online bill pay and also appears to have a yodlee option.
• Free paper checks- I write the slackers in my life checks for the money I owe them, they don't cash them, I earn 4.25% on their laziness.
• Direct Deposit

Downsides: You have to mail checks in to them. This kind of sucks, but I rarely get a paper check anymore, so its not awful.

2. FNBO Direct

They have a 6% interest rate through September, which makes them a great place for my short-term emergency fund. I haven't see anything better than this rate (except in shady banks) After September, I will reevaluate to see if my emergency fund should be moved elsewhere.