Dedicated to Deposits: Deals, Data, and Discussion

2.50% Reward Checking Account at a South Carolina Bank (Bank of Anderson)


Bank of Anderson
Update 6/14/09: The top yield has fallen to 2.50% APY. See bottom of the post for the rate history.

Bank of Anderson is offering a reward checking account called Smart eChecking that pays 2.50% APY on balances up to $25,000 (1.25% for above) and refunds ATM fees if the following monthly requirements are met:
  • 10 check card purchases
  • one direct deposit or Automatic Debit
  • receive electronic statements via Online Banking (customer must log in at least once every 3 months)
If these are not met, the rate falls to 0.25%. The minimum initial deposit is $100.

It appears a branch visit is required to open an account. Branches are located in Anderson, South Carolina. The bank has been FDIC insured since 1998 (Certificate # 34830).

Other Rewards 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.

Rate History:
06/01/09: 2.50% APY up to $25K; 1.25% over $25K
01/02/09: 2.75% APY up to $25K; 1.50% over $25K
11/20/08: 3.25% APY up to $25K; 2.00% over $25K
10/25/08: 3.75% APY
06/24/08: 5.55% APY up to $25K, 3.00% over $25K

  Tags: Bank of Anderson, South Carolina, checking account, reward checking account

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Comment #1 by Anonymous posted on
Per the rate table dated11/20/08, the top rate was 3.25% APY up to $25K; 2.00% over $25K; 0.25% if requirements not met.