Disclaimer: This Inside South Florida segment is sponsored by Tropical Financial. All opinions and views are of the advertiser and does not reflect the same of WSFL-TV.
Vice President of Marketing, Amy McGraw and Dexter, the friendly financial frenzy mascot from Tropical Financial Credit Union stopped by Inside South Florida to break down the differences between high-yield checking accounts and daily reward debit accounts, shedding light on the financial benefits and how these accounts can impact your savings.
Amy McGraw explains the differences between high-yield checking accounts and daily reward debit accounts. While high-yield checking accounts may offer enticing interest rates, the actual benefits may not always be significant unless you maintain a high balance. Conversely, the daily rewards debit account offers tangible benefits each time you use your debit card, with rewards credited the very next day.
Setting up a daily rewards debit account is straightforward. Visit their website where you can open an account online with a minimum deposit of $25. Tropical Financial even covers the $2 membership fee.
Amy emphasizes the importance of doing the math to determine which account is more beneficial based on your usage and balance. For a transactional account with frequent usage and lower balances, the daily rewards debit account typically offers better value without the burden of monthly fees.
To qualify for membership at Tropical Financial Credit Union and access their daily rewards program, you need to live or work in South Florida. The daily rewards debit account offers cashback with each transaction, making it a valuable option for regular users.
For more information and to sign up, visit tropicalfcu.com.
