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High-Yield Reward Checking Account at a Missouri Bank - Available Nationwide (Community Bank of Pleasant Hill)

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Community Bank of Pleasant Hill

Community Bank of Pleasant Hill has a rewards checking account that pays 2.51% APY on balances up to $25,000 (0.50% for above) and refunds ATM fees if the following monthly requirements are met:

  • 10 debit card purchases
  • one direct deposit or ACH debit
  • receive electronic statements

If these are not met, the rate falls to 0.10%. The minimum deposit to open the account is $100. There are no minimum balance requirements or monthly service charges.

Update 1/6/11: The bank no longer has an application at CheckingFinder.com. However, there is an online application at its website.

This bank has partnered with Checkingfinder.com to offer this online for people in any state. I emailed the bank about the Checkingfinder.com's online application, and here is their reply:

You do not have to come into our bank in person. You are welcome to apply online and we do not require that you mail in personal identification documents because of the level of security questions that you will be asked when you apply online.


Here is the link to the bank's Checkingfinder.com page.

The bank has one office located in Pleasnt Hill, Missouri. It's a new bank that was established in 2006 (FDIC Certificate # 58423).

One thing you might notice with this bank is the similarity with the Community Bank of Raymore that I posted on last Tuesday. The websites are very similar and the reward checking accounts share the same rates and features. There is definitely some affiliation between the two. Both share the same Board of Directors Chairman. However, they are two different banks from a FDIC insurance point-of-view.

Other High Yield 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. On this website I also have a list of reward checking accounts available nationwide.

Rate History:

  • 01/07/10: 2.51% APY for up to $25K
  • 04/01/09: 3.01% APY for up to $25K, 0.50% APY for over $25K, 0.10% if requirements not met
  • 12/24/08: 5.01% APY for up to $25K, 0.50% APY for over $25K, 0.10% if requirements not met.
  • 09/07/08: 6.10% APY for up to $25K, 1.25% APY for over $25K, 0.30% if requirements not met.
  • 06/12/08: 5.01% APY

  Tags: Missouri, checking account, reward checking account, Community Bank of Pleasant Hill

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Comments
22 Comments.
Comment #1 by cjdtech (anonymous) posted on
cjdtech
The customary question: Is there a hard pull?

1
Comment #2 by Anonymous posted on
Anonymous
Are all automated payments (utilities, etc.) ACH debits, or are there other kinds? If so, how can one tell? I don't want to move my direct deposit, but don't mind moving a bill.

1
Comment #3 by Banking Guy (anonymous) posted on
Banking Guy
Typically, all ACH debits count. This can include having your utility or credit card intiating an ACH debit or by you initiating an ACH transfer from your online bank. In addition to ACH debits, ACH deposits often count. This can include not only direct deposit but also an ACH deposit from your online bank.

1
Comment #4 by Robert (anonymous) posted on
Robert
Has anyone opened this account out-of-state?

1
Comment #5 by Craig (anonymous) posted on
Craig
yes...you will find the online application at checkingfinder.com...opened very fast..just took 2 business days! They seem very nice over there....hey 6.10% APY and Unlimited Atm Rebates (not $25 a month max like alot of these accounts).....No hard pull..just Chex systems, i believe....

1
Comment #6 by Anonymous posted on
Anonymous
I applied online, but got an email saying that my identification can not be verified. Called later but finally transfered to voicemail, and no one respond to my voicemail. I sent email to ask if I can apply by regular mail, and the answer is "no, but you can visit our branch to open the account". Unfortunately, I live hundreds miles away.:(

1
Comment #7 by Craig (anonymous) posted on
Craig
you can't apply out of area like that...you must use the form on checkingfinder.com actually, they should have told you that in the e-mail you got...

1
Comment #8 by Anonymous posted on
Anonymous
The rate was dropped to 4.99% APY this weekend.

1
Comment #9 by Banking Guy (anonymous) posted on
Banking Guy
The 6.10% is still showing at both the bank's website and at CheckingFinder. Has it already dropped or have they scheduled it to drop in the near future?

1
Comment #10 by Anonymous posted on
Anonymous
The website still displays 6.10% and I called the bank to verify it and they postively confirmed it is still 6.10%

1
Comment #11 by Anonymous posted on
Anonymous
Applied on Pleasant Hill's web site on weekend, and received an email from them on Tue.
"Thank you for your interest and request for our Rewards Checking account with Community Bank of Pleasant Hill. To verify your identification and continue with your online request, we ask that you complete a request at www.checkingfinder.com and select Community Bank of Pleasant Hill. Due to you being out of the local area, this will be the easiest way for you to complete an online account. We hope you will take a few minutes to complete this request and we look forward to assisting you with this process!"

So I went to the web site to submit application again, after some verification questions, I was rejected instantly, "We're sorry, your application was not approved. We regret we cannot open your account today due to information received from Chex Systems Inc., a consumer reporting agency."

I'm a little supprised because I didn't have any problems with my other checking accounts and this is my first Reward Checking. Anybody know anything I can do to open it? Or I have no chance at all? (I was told later I can't apply by phone or mail)

Thanks

1
Comment #12 by Banking Guy (anonymous) posted on
Banking Guy
Some banks will reject an application if they find too many recent ChexSystem inquiries. So if you have recently opened 3 or more accounts in the last 3 months, this could be the reason. I think this is a bad use of ChexSystem which is intended to help banks guard against those who abuse accounts. I think you may entitled to a free report of your ChexSystem file due to this rejection. It could be useful to ensure there's nothing in error. You may also want to check with the bank to see if they can provide any details regarding the rejection.

1
Comment #13 by Anonymous posted on
Anonymous
Thanks for your quick reply. I didn't open any accounts in the last 3 months, but I did have 3 accounts opening on going. I applied 3 checking during the weekend,Pleasant Hill, Sovereign, Coulee, the latter 2 are both approved and are still in the initial funding process. Maybe Pleasant Hill is the last to process my application so they see my other two applications. I thought the ChexSystem would have some lags to report my activities.
Or maybe it's irrelevant, it's only Pleasant Hill's problem. They don't want to do a personal review. The customer suppor said the only option for me is through checkingfinder.com

1
Comment #14 by Anonymous posted on
Anonymous
I had the exact same problem with this bank. The only difference was i called the bank and they told me they will review my account in person and then get back with me, which they never did.

1
Comment #15 by Anonymous posted on
Anonymous
I'm not impressed with this bank. after signing up through checkfinder.com, I got a msg stating a rep would contact me with futher infomation in opening the account. Left msg 2 times with the person that opens accounts. No one ever called. I guest they are slammed.

1
Comment #16 by Anonymous posted on
Anonymous
Just found both Community bank of Pleasant Hill and Raymore lowered the rate to 5%. Both their web sites and Checkingfinder.com shows the new rate now. Phone call to CBPH confirmed the rate is applied to all existing reward checking accounts from today.

1
Comment #17 by Anonymous posted on
Anonymous
12/23/08 - It looks like the rate went down to 5.01% APY.

1
Comment #18 by Anonymous posted on
Anonymous
Just FYI but I found it interesting to see the effect of sites like this and others advertising the highest yielding accounts. In an email I received from Colette about a delay in receiving my debit card she said she would get right on it but she was swamped with 800 new apps since September. I was actually surprised. Thought it would have been higher.

1
Comment #19 by Anonymous posted on
Anonymous
Wanted to let you know that I got an e-mail today that said effective 1/30/2009 the rate would be 2.82. The website still says 5.01, but I expect that the e-mail is correct, although I'm hoping otherwise!

1
Comment #20 by Anonymous posted on
Anonymous
4.01% on splash page
https://www.cbphonline.net/index.html

1
Comment #21 by Aditya Mishra (anonymous) posted on
Aditya Mishra
As of today it is 3.01% Apy

1
Comment #22 by Logan (anonymous) posted on
Logan
I'm pulling my money out and switching to Malvern Federal Savings.

They're up around 5%.

1