4.04% Reward Checking Account At Progress Bank in Tampa FL

Update 8/16/09: The top rate has fallen to 4.04% APY.

Progress Bank is offering a reward checking account that pays 4.04% APY on balances up to $25,000 (1.10% for above) if the following monthly requirements are met:

• 12 debit card purchases
• one direct deposit or ACH
• receive e-statements

If these are not met, the rate falls substantially. A $50 minimum initial deposit is required. There are no minimum balance requirements or monthly service charges.

The small print states that there's a one-time set up fee of $10. At least the first order of checks are free. I don't see any mention of ATM fee refunds. Such refunds are common for reward checking accounts if the monthly requirements are met.

It appears that a branch visit is required to open an account. Branches are located in Tampa, Florida. The bank has been FDIC insured since 1984 (FDIC Certificate # 32251).

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:
08/11/09: 4.04% APY up to $25K
10/05/08: 5.05% APY up to $25K

Tags: checking account, reward checking account, Florida