Tired of Your Boring Old Savings Account? These Options Offer Rewards, Perks and Prizes

When Verizon and Santander Bank broadcasted in March that they were collaborating to offer a new high-yield savings account exclusively for Verizon customers the move was noteworthy for several reasons First it marked a major step for Openbank the online-only division of Santander that handles the Verizon accounts as it looks to make inroads in the U S arena Second it represented the next bold initiative in financial services by Verizon adding a deposit account to its offerings But the partnership also was important for another reason It gave savers an alternative to the same old stuffy savings accounts they ve become used to It was gasp a creative savings account in a landscape where insufficient of those exist Credit card holders get all the fun stuff Passage points Airport lounges Particular presale tickets to see Post Malone Even chosen checking accounts occasionally think outside the vault offering cash back rewards or helping you build your credit amount by paying your bills But savings accounts That s where creativity goes to die it seems You deposit your money leave it there and hope the bank doesn t slash your interest rate the day after Sure there s various comfort in simplicity and familiarity This is where you re parking your emergency fund after all so VIP passes to go skydiving might not be a benefit you re seeking But perhaps you want a little something special from your savings account If that s the affair these creative savings accounts are for you Read Best Savings Accounts Verizon Openbank Savings Account This high-yield savings account earns a competitive annual percentage yield as of May and comes with the opportunity to shave as much as per month off your phone bill The amount you ll trim off your Verizon bill depends on the average daily balance of your account You ll need to have at least an average balance of to start earning credit toward your bill To get the maximum annual bill credit you ll need to have an average daily balance of While it is early days for the bank s partnership with Verizon initial feedback has been very positive and take-up rates have exceeded expectations says Swati Bhatia head of retail banking and transformation at Santander Bank and CEO of Openbank in the U S This is helping to encouragement tremendous upsurge for Openbank in the U S She says Openbank has grown to serve more than customers and has surpassed billion in deposits since launching in October Verizon customers can sign up on the Verizon app or website They ll be directed to the Openbank site to register for the account Then they can use the Openbank app to deposit and withdraw money check interest rate and manage their account Like multiple high-yield savings accounts this account doesn t come with an ATM card so you ll need to link it to another account to withdraw funds Bask Bank Mileage Savings Account Online-only Bask Bank also offers a high-yield savings account but the bank authentically launched its Mileage Savings Account first in Account holders earn two American Airlines AAdvantage miles for every dollar they save annually We created the Mileage Savings Account to give customers a choice in how they are rewarded for saving says Chia Hsun Chang head of consumer and digital banking at Texas Capital Bank the parent company for Bask Bank For frequent travelers and loyalty enthusiasts earning American Airlines miles on everyday deposits turns the act of saving into something aspirational a future trip an upgrade or totally more flexibility when they fly The Mileage Savings Account charges no maintenance fees and has no minimum balance requirement It doesn t earn any interest and miles can t be redeemed for cash The bank often runs sign-up offers that give you bonus miles when you open an account and meet certain criteria Read Best Checking Accounts FitnessBank Savings Account Who says high-yield savings accounts only generate passive income This account is as advancing as it gets The FitnessBank Savings Account rewards you with an interest rate based on how ongoing you are each day The more running swimming or cycling you do the higher your interest rate You ll need to download both the FitnessBank mobile app and the bank s step-tracker app to get started and there is a limit to how high of a rate you can earn Can you imagine the APY stickers marathoners would start slapping on their Subarus if there were no cap The highest interest rate you can earn with the savings account is APY as of May and you ll need to reach an average daily step count of at least to qualify for the top rate Even if you don t take a single step all month you ll still earn APY FitnessBank which is a division of Affinity Bank also offers a checking account that can be paired with the savings account to elevate your probable maximum rate to APY The account requires a minimum opening deposit and you ll need to keep your balance at that level to avoid a monthly maintenance fee Account holders are limited to six transactions per month and are charged for each additional withdrawal transfer or payment beyond that amount SoFi Checking and Savings With SoFi Plus Those seeking entertainment perks and more may want to consider opening a savings account with SoFi The online bank offers a combination checking and savings account so customers referred to as members are automatically enrolled in both when they open one Members can pay a monthly subscription fee to get SoFi Plus status but they can also get the benefits for free by entirely setting up direct deposit into their account SoFi Plus members get a competitive APY on their savings and checking accounts but they also get particular additional benefits such as unique presale tickets to music and sporting events This account might be most of attractive to Los Angeles-area customers as a multitude of of the the bulk intriguing experiences you can get access to are held at SoFi Stadium in nearby Inglewood home of the NFL s Rams and Chargers and host to numerous big-name concerts SoFi often runs sign-up bonus offers worth up to if you meet certain requirements The account doesn t charge any maintenance fees and has no minimum balance requirement Credit Unions With Prize Drawings Do you enjoy playing the lottery but feel that it might be better to save your money Here s a way you can save and enter to win A multitude of credit unions across the country participate in a monthly prize venture called Save to Win Once you find a local credit union that participates there are more than you absolutely open a Save to Win savings account For every you save you earn one entry into the monthly and quarterly cash prize drawings which are conducted at both the state and national level More than winners are selected each month and winnings range from to More from U S News How Much Money Should You Have in Savings How to Open a Savings Account Types of Savings Accounts Tired of Your Boring Old Savings Account These Options Offer Rewards Perks and Prizes originally appeared on usnews com Source