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High-Yield Reward Checking Account at Grand Bank of Texas

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Grand Bank of Texas
Update 9/08/11: The top rate has fallen to 2.88% APY. The reward checking account doesn't appear to be available to new customers.

Grand Bank of Texas is offering a reward checking account that pays 2.88% APY on balances up to $25,000 (1.01% for above) and refunds ATM fees up to $25 per cycle if the following monthly requirements are met:
  • 12 debit card purchases
  • one direct deposit or ACH debit
  • access online banking
  • receive electronic statements
If these are not met, the rate falls to 0.27%. The minimum initial deposit is $100. There are no minimum balance requirements and no monthly service charges. Multiple accounts can be opened, but requirements must be met for each account.

There's an online application, but at the top of the opening page, it states that "one of our representatives will contact you within one business day to set up a convenient time for you to come in to a branch location to complete the application process.&quot So it appears to require a branch visit.

Branches are located in Dallas and Grand Prairie, TX. The bank has been FDIC insured since 1975 (FDIC Certificate # 22040).

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:
09/08/11: 2.88% APY up to $25K
10/25/09: 4.52% APY up to $25K
08/24/08: 5.02% APY up to $25K; 1.01% over; 0.27% base

  Tags: Grand Bank of Texas, Texas, checking account, reward checking account

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Comments
3 Comments.
Comment #1 by Anonymous posted on
Anonymous
Website shows 4.52% APY

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Comment #2 by Anonymous posted on
Anonymous
website shows 4.03% now.

2
Comment #3 by thaiguyinla (anonymous) posted on
thaiguyinla
As of July 2010, the bank's web site has some new language re applying online... Their site is powered by ROI, which usually allows online applications without branch visits...

But now the web site says for those who apply online:

"You'll receive an email with further instructions, or a representative will contact you to assist you in the final steps of activating your account."

 

 

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