Dedicated to Deposits: Deals, Data, and Discussion

2.25% Reward Checking Account at Banks in MO,KS,IL,OK (Central Bancompany)


Metcalf Bank
Update 7/11/09: It has been reported that the top rate has fallen to 2.25% APY.

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
If these are not met, the rate falls to 0.10%. The minimum initial deposit is $50. There are no monthly maintenance fees.

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.
Other Reward Checking Accounts

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.

Rate History:
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

  Tags: Kansas, Missouri, Metcalf Bank, checking account, reward checking account

Related Posts

Comment #1 by Anonymous posted on
Metcalf Bank must be reworking their website. Presently, very little info on their reward checking account is available, except that one existed sometime or other.

Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
I just sent them an email asking about this. I'll update the post when I receive a reply.

Comment #3 by Anonymous posted on
2.25% as of July 09.