Galena State Bank & Trust is offering a reward checking account that pays 4.01% APY on balances up to $20,000 (1.01% for above) and refunds ATM fees up to $20 per month if the following monthly requirements are met:
- 15 debit card signature-based transactions
- one direct deposit
- receive electronic statements
This bank is part of the same bank holding company that I mentioned in a previous post. Many of the banks in this holding company had been guaranteeing a 6.01% APY into 2009 and 2010.
According to the small print in the bank's checking page, it's not accepting accounts outside of its local service area. Branches are located in the Illinois cities of Galena and Stockton.
The bank has been FDIC insured since 1967 (FDIC Certificate # 19660).
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.
03/30/09: 4.01% APY up to $20K; 1.01% over
12/06/08: 5.01% APY, 15/mo debit card purchases required. Previously opened accounts still get 6.01% APY guaranteed through January 2010.
10/29/08: 6.01% APY; 1.51% over; 12/mo debit card purchases required
Edit 2/8/09: Automatic payment is no longer listed as an alternative to direct deposit.