High-Yield Reward Checking Account at FirstAtlantic Bank in Florida

Update: The top rate has fallen to 3.04% APY.

FirstAtlantic Bank has a reward checking account called Treasure Checking. It pays 3.04% APY on balances up to $20,000 (0.80% for above) and refunds up to $20 of ATM fees per cycle if the following monthly requirements are met:

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

If these are not met, the rate falls to 0.10%. Minimum initial deposit is $100. There are no minimum balance requirements and no monthly service charges.

A branch visit appears to be required to open an account. Branches are located in the north Florida cities of Jacksonville and St. Augustine. The bank has been FDIC insured since 1999 (FDIC Certificate # 35200).

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:

• 06/29/10: 3.04% APY for up to $20K; 0.80% over; 0.10% base
• 11/30/09: 3.33% APY for up to $20K
• 08/21/09: 4.00% APY for up to $30K; 1.15% APY for above; 0.35% base
• 05/23/09: 4.00% APY for up to $30K; 1.50% APY for above
• 03/06/09: 4.00% APY for up to $30K
• 01/06/09: 5.01% APY for up to $30K; 2.00% APY for above;
• 11/26/08: 5.01% APY for up to $30K; 3.00% APY for above; 1.00% APY if req's are not met