Update 1/20/11: The top yield has fallen to 3.25% APY. Refer to the bottom of the post for the rate history.
Blueharbor Bank is offering a reward checking account called Neon Blue Checking. The yield is 3.25% APY on balances up to $30,000 (1.00% for above) if the following monthly requirements are met:
- 15 debit card purchases
- one bill payment transaction must be processed
- one direct deposit or automatic debit
- receive electronic statements
If these are not met, the rate falls to 0.10% for the next statement cycle. The minimum initial deposit is $100. There are no minimum balance requirements or monthly maintenance fees.
It appears a branch visit may be required to open an account. The bank is located in Mooresville, North Carolina which is about 20 miles north of Charlotte.
It's a new bank that was just established in January 2008. It's a member FDIC (FDIC Certificate # 58691).
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.
- 08/20/10: 3.25% APY, 1.00% APY for above $30K, 0.10% base
- 08/17/09: 4.00% APY, 1.50% APY for above $30K, 0.50% base
- 05/16/09: 4.00% APY, 1.50% APY for above $30K, 0.75% base
- 12/30/08: 4.00% APY, 2.00% APY for above $30K
- 08/10/08: 5.00% APY, 2.50% APY for above $30K, 1.00% base