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3.05% Reward Checking Account at a Colorado Bank (Bank of Choice)

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Bank of Choice
Update 6/07/09: The top yield has fallen to 3.05% APY. See bottom of post for the rate history.

Bank of Choice is offering a reward checking account called Choice Reward Checking that pays 3.05% APY on balances up to $35,000 (0.49% for over) and refunds ATM fees nationwide if the following monthly requirements are met: 1) 8 MasterCard debit card purchases, 2) automatic withdrawal or direct deposit, and 3) receiving electronic statements. If these requirements are not met, the rate falls to 0.49%. The minimum opening balance is $100.

The Choice Reward Checking account's rates and requirements are listed under the bank's rate table (pdf).

Based on my past reports on this bank, you must reside in the bank's market area to open an account. Branches are located in Evans, Greeley, Platteville, Fort Collins and Windsor, Colorado. The bank is a member FDIC (Certificate # 34502).

I came across this reward checking account from this article. It also mentions the reward checking account offered by Home State Bank, which is also in Colorado. I posted on this bank and its reward checking last August.

Other High Yield Reward Checking Accounts

Please see my reward checking overview for general information and a history of these reward checking accounts. For other reward checking accounts please see my list of reward checking accounts around the nation and the best checking account post.

Edit 11/22/08: New URLs for Bank of Choice.

Rate History:
06/02/09: 3.05% APY up to $35,000
04/15/09: 3.25% APY up to $35,000
03/04/09: 4.00% APY up to $35,000
01/06/09: 4.50% APY up to $35,000, 0.49% for above, 0.49% if req's not met
08/08/08: 5.01% APY up to $35,000, 0.76% for above, 0.76% if req's not met
01/21/08: 6.03% APY up to $35,000, 1.01% for above

Edit: Added URL to new checking page, and added info on ATM fee refunds.
  Tags: Bank of Choice, Colorado, checking account, reward checking account

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Comments
6 comments.
Comment #1 by Anonymous posted on
Anonymous
Bank of choice rate as shown on its website has deopped to 5.01%, another victim of the trend.

1
Comment #2 by Anonymous posted on
Anonymous
As of 1/6/09 for amounts over $35K the yield is 0.49% APY, and the same if requirements not met.

1
Comment #3 by Anonymous posted on
Anonymous
rate is now at 4.5% as of 1/6/09

1
Comment #4 by Anonymous posted on
Anonymous
Rate is now at 4.0% as of 3/4/09

1
Comment #5 by thiseye (anonymous) posted on
thiseye
down to 2.38% now ... of course days after I opened it. :-\

1
Comment #6 by Anonymous posted on
Anonymous
Reward rate freefall!  Now under 1%?!

Bank of Choice is losing credibility in CO.

1