First it was the high-yielding online savings accounts, and now it is the high-yielding online checking account. The great success of the online high-yielding savings accounts seems to have led to the growth of the high-yielding checking account. Why would brokerages want to offer high-yield checking accounts to customers? The brokerages are able to increase their assets, while not paying out too much of their earnings in interest. 
ING Direct was the first to make the move, as it was with savings accounts, starting its Electric Orange high-yield interest checking accounts. These accounts yield 4% if your balance is under $50,000. Charles Schwab (NASDAQ:SCHW) and E*Trade (NASDAQ:ETFC) quickly threw their hat in the ring, yielding 4.25% and 3.25% respectively. Now the news is that financial giant Fidelity Investments will be next to offer a high-yield checking account with a yield of 3.5%.
