Free and high-yield checking accounts. Where can you find them in South Florida?

You don’t see the term “Free Checking” very often. Why? The federal government has strict rules on what qualifies as “free” to prevent institutions from hiding fees and charges on those accounts.

Here’s the good news: You can now find free checking at your local Tropical Financial Credit Union branch. The Daily Rewards account meets all the requirements. Let’s go over them:

• No minimum balance required
• No monthly service fee
• No maintenance fee
• No fees regardless of the number of transactions each month
• No fees to deposit, withdraw or transfer funds
• No ATM fees from Tropical Financial

Just one caveat: If you use an ATM at another institution, it may charge you.

There’s more good news: Daily Rewards pays you 2 cents every time you use your debit card and the money is automatically added to your account. So, you win twice with the account: no credit union fees or charges, and your account pays you.

High-yield checking account

Looking for a high return on your money? Tropical Financial has you covered with Max Reward High-Yield Checking, which pays a highly competitive rate on the first $5,000 in the account.

Like Daily Rewards, Max Reward has no service fees and no minimum balance requirement. To qualify for the high yield, you must:

• Enroll in the credit union’s electronic statements program
• Directly deposit a minimum of $900 each month
• Make at least 25 debit card purchases during the month, including paying bills and making purchases online, and withdrawing cash from ATMs

Both accounts come with these benefits:

• Low $25 minimum to open
• No charge from Tropical Financial for accessing over 60,000 ATMs nationwide
• App and website controls to lock your debit card as a safety measure against unauthorized use
• Mobile check deposits using your smartphone and the Tropical Financial app
• Ability to add the account to your smartphone’s digital wallet
• No fees for overdraft-protection transfers from another Tropical Financial account

To learn more about the checking accounts and find some of the lowest loan rates in Florida, visit the Tropical Financial Credit Union website, a branch office, or call (888) 261-8328.