1.20% Reward Checking Account at a KS/MO/TX Bank (Solutions)

Update 11/08/09: The reward checking account is no longer listed on the website.

Update 10/15/09: The top rate has fallen to 1.20% APY. Refer to the bottom of the post for the rate history.

Solutions Bank is offering a reward checking account called SolutionsChecking that pays 1.20% APY on balances up to $50,000 (1.02% for above) and refunds ATM fees if the following monthly requirements are met:

• 10 debit card purchases
• One direct deposit or ACH auto debit
• access online banking
• receive electronic statements

If these are not met, the rate falls to 0.50%. The minimum initial deposit is $100. There are no minimum balance requirements and no monthly service charges.

It appears a branch visit may be required to open an account. Branches are located in the Kansas City metro area and in Plano, Texas. The bank has been FDIC insured since 1934 (FDIC Certificate # 4731).

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:
09/25/09: 1.20% APY up to $50K
09/14/09: 1.30% APY up to $50K
08/11/09: 1.40% APY up to $50K
06/02/09: 1.75% APY up to $50K
05/21/09: 1.48% APY up to $50K
05/10/09: 1.71% APY up to $50K
03/19/09: 4.13% APY up to $50K
01/25/09: 4.53% APY up to $50K
08/10/08: 5.03% APY up to $50K; 1.02% over $50K; 0.50% if req's not met

Tags: Kansas, Missouri, Texas, checking account