Central Bancompany, a bank holding company for 13 banks, is offering a reward checking account called MaxMoney (rates not on website) that pays 2.25% APY on balances up to $25,000 (0.50% for above) and refunds ATM fees if the following monthly requirements are met:
- 15 debit card point-of-sale purchases
- One ACH direct deposit
- receive electronic statements
One thing a little unusual about this reward checking account is that the ATM fee refunds are not automatic. You are required to submit your other bank ATM receipts within 60 days of transaction date.
It appears that a branch visit is required to open an account. The 'Our Family' webpage lists the individual banks and their service areas, which blanket Missouri but also extend to outside-the-state surrounding counties/communities. Refer to the individual banks for branch locations.
Central Bancompany’s (FDIC BHC ID # 1094314) consolidated balance sheets for the last two years are available (homepage), as is an auxiliary list of the individual banks (via the FDIC link) along with their FDIC certificate numbers, city/state location, and domestic deposits and total assets. Both Bankrate and BauerFinancial give 4 stars, strong (or better), ratings to these banks, except ONB Bank, 3 stars, based on 3/31/09 data.
Below are direct links to the banks' websites and the date of FDIC insurance.
- Boone County National Bank (since 1934)
- Central Bank of Lake of the Ozarks (since 1934)
- Central Trust Bank (since 1934)
- City Bank and Trust Company (since 1935)
- Empire Bank (since 1956)
- First Central Bank (since 1984)
- First Nat’l Bank of St. Louis (since 1934)
- Metcalf Bank (since 1985)
- First Nat’l Bank of Audrain County (since 1934)
- Jefferson Bank of Missouri (since 1967)
- ONB Bank & Trust (since 2000)
- Ozark Mountain Bank (since 1950)
- Third National Bank (since 1934)
Another holding company (Valley View Financial Group) within the Kansas City metro area has seven (7) individual banks listed within its reward checking account description. 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.
Edit 9/07/09: Converted post from a Metcalf Bank to Central Bancompany group of banks which includes Metcalf.
Edit 1/05/09: Since these banks do not include rates for the reward checking on their website, I emailed Metcalf bank about this account. According to their reply the top yield remains 5% APY as of 1/03/09.
07/09/09: 2.25% APY up to $25K (As reported by reader, rates not shown on website)
09/07/08: 5.00% APY up to $25K; 0.50% over; 0.10% base rate