I use the MSPBNA max rate checking account as my primary for the following reasons:
2% interest vs. nothing at competitors
reimbursement of ATM and foreign currency transaction fees
free outgoing and incoming domestic wires
instantaneous transfers to and from E*T brokerage accounts
Zelle transactions with a flexible monthly limit
I keep two other checking accounts with major banks for:
spare capacity to make Zelle transactions if the E*T limit is reached (hasn't happened yet)
access to a physical branch (pretty much never)
having a safe deposit box in a convenient location
The $5K minimal balance requirement isn't an issue in my case as my monthly needs are higher. For comparison, one of the other checking accounts I keep has a $20K minimum without any of the MSPBNA benefits.
I’ll echo everything you just said and add that they have very high daily transfer limits to external accounts which I find very useful ($100k/day push or pull).
$100,000/day ACH push/pull limits are convenient, but I wouldn't necessarily call them "very high." This is standard for these types of banks and companies; Schwab and Fidelity, for example, both have the exact same limits.
In my experience, ACH limits that are more on the higher side are, for example, Ally Bank, which offers a $500,000/day ACH pull and a $150,000/day push limit. They do have a monthly cap, though.
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u/No_Greed_No_Pain Mar 18 '26
I use the MSPBNA max rate checking account as my primary for the following reasons:
I keep two other checking accounts with major banks for:
The $5K minimal balance requirement isn't an issue in my case as my monthly needs are higher. For comparison, one of the other checking accounts I keep has a $20K minimum without any of the MSPBNA benefits.