High-Yield Reward Checking Account at a North Carolina Bank (Blueharbor)

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.

Rate History:

• 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