Netspend has their H-E-B debit card which offers a linked savings account with 6% APY on balances up to $2,000. Balances above that amount get .50% APY.
You can get the H-E-B card even if you have another version of the Netspend debit cards. Years ago I spent a lot of time parsing out the options with Netspend cards since it was possible to get 5% APY on up to $5,000, and to multiply that by opening various versions of the Netspend cards. These became much less interesting in 2016 when they lowered the max to just $1,000, though given the current environment of low interest rates some might revisit these accounts.
This H-E-B card is more interesting than the other Netspend cards since they are now offering a higher 6% rate and also a higher $2,000 limit. We’ve added this to our list of Best High Yield Savings Accounts. (Note: years ago there was an issue with a 90-day inactivity fee on the card which had to be dealt with; I don’t know if that’s still an issue now.)
There are also a few bonuses possible to get with this card (or possibly any Netspend card), including $10 for depositing a check, $15 for direct deposit, and $5 for loading the account – see more about these potential offers in this comment from reader ShawntheShawn.
Feel free to discuss this or other Netspend accounts in the comments below. No referrals.
