Valley Bank has a reward checking account called My LifeStyle Checking that pays 3.51% APY on balances up to $25,000 (1.01% for above) and refunds ATM fees (including international ATMs) if the following monthly requirements are met:
- 12 Visa Check Card Purchases
- One direct deposit or ACH debit/credit
- receive E-statements
There's an online application for this account, however, in the form, it only allows you to select the state of Virginia for your home address. So it appears anyone in Virginia may be able to apply online. Update 4/18/09: I contacted the bank about eligibility for opening this account, and here is the reply I received:
It is not limited specifically to just our market area. We welcome the opportunity to service you with all of your banking needs. Please feel free to contact me at 540-342-2265 should you have any questions.
So if you live outside of Virginia, you may still be eligible, but you may need to ask the bank about how to get around this limitation in the application.
Branches are located in the Virginia cities of Roanoke, Salem and Vinton. The bank has been FDIC insured since 1995 (FDIC Certificate # 34019).
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.
10/29/09: 3.51% APY up to $25K
06/06/08: 5.01% APY up to $25K; 1.01% above; 0.10% base