Classic Bank has a Reward Checking Account that pays 4.01% APY for balances up to $25K (1.01% for above). The two main requirements are that you use the VISA Check Card 10 times per month (excluding ATM withdrawals) and you either have direct deposit or pay one bill via auto draft each month. It only requires $100 to open and has no minimum balance and no monthly fees.
According to the bank representative, they require a branch visit to open the checking account. Branches are located in the Texas cities of Cameron, Rosebud, Rockdale and Giddings which are located east and northeast of Austin.
The bank has been FDIC insured since 1934.
Other Reward Checking Accounts
To find reward checking accounts in other areas of the nation or to learn more about these accounts, please refer to my High Yield Checking website.
01/30/09: 4.01% APY up to $25K; Bank name is now Classic Bank; URLs updated
10/10/06: 4.75% APY up to $25K; Bank was called First National Bank