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4.00% Reward Checking Account at Bank of the Carolinas


Bank of the Carolinas
Update 6/27/09: The top rate has fallen to 4.00% APY. Refer to the bottom of the post for the rate history.

Bank of the Carolinas is offering a reward checking account called Free Shine Checking that pays 4.00% APY on balances up to $25,000 (1.01% for above) and refunds ATM fees if the following monthly requirements are met:
  • 12 debit card purchases
  • one direct deposit or automatic debit
  • receive e-Statements
If these are not met, the rate falls to 0.10%. The minimum opening deposit is $50. There are no minimum balance requirements or monthly service charges.

A branch visit is required to open a new account. Branches are located in the North Carolina cities of Winston-Salem, Mocksville, Lexington, Landis, King, Harrisburg, Concord, Cleveland, Asheboro and Advance.

The bank has a 3.5 star rating (good) at BauerFinancial based on 3/31/08 data. It has been FDIC insured since 1998 (FDIC Certificate # 34903).

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.

Rate History:
06/18/09: 4.00% APY up to $25K
07/15/08: 4.50% APY up to $25K; 1.01% over; 0.10% base

  Tags: Bank of the Carolinas, North Carolina, checking account, reward checking account

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Comment #1 by Anonymous posted on
I have this account myself, and I think it's fantastic. I've earned tons of interest already. Bank of the Carolinas is different. Check out their website and you'll see what I mean.