Update 10/04/09: The top rate has fallen to 2.30% APY.
Falcon International Bank is offering a reward checking account that pays 2.30% APY on all balances and refunds ATM fees up to $20 per cycle if the following monthly requirements are met:
- 15 debit card purchases
- one direct deposit or ACH debit
- access online banking
It appears a branch visit is required to open an account. Branches are located in the Texas cities of Del Rio, Eagle Pass, Laredo, McAllen and Brownsville, San Antonio and Buda. The bank also has branches in Monterrey and Guadalajara, Mexico. The bank has been FDIC insured since 1986 (FDIC Certificate # 26856).
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.
09/27/09: 2.30% APY per commenter (can't find rates on website now)
05/14/09: 2.75% APY
03/17/09: 3.00% APY; Requires 15 debit card purchases per month
09/28/08: 4.01% APY; Requires 10 debit card purchases per month