In the USA youd consider yourself lucky to get any interest right now. Imagine if they go like Japan, fuck that would be a trip. ps. Whos giving 5.5 right now ? and is it a honeymoon.
It used to be just the better credit unions, but now all the major banks in Australia are doing it. The catch is that you have to do all of your banking online and you can only withdraw from the account by transferring the money elsewhere. No fees at all except for external transfers. I just keep a regular account at the same credit union for regular use alongside the net account. Its a win win situation.
Whats the bet my business account (only one which would really benefit) wouldnt be fee free. and it seems i need to do another round bank surfing if 5.5 is the norm.
Where are you from? Another thing to note, even though I belong to a credit union, the amount of free withdrawals and transfers I get with my regular account are ridiculously small. I still end up paying stupid fees even though they advertise fee free banking. Wankers. Still better than a major bank though.
Hey hey, what is the weather like up there? EDIT: And it looks like they have reduced the interest since I signed up early last year, 3.08%. Stupid economy.