2.53% Reward Checking Account at State Bank of Southern Utah

Update 10/15/09: The top yield has fallen to 2.53% APY. Refer to the bottom of the post for the rate history.

State Bank of Southern Utah is offering a reward checking account called Big Interest Checking. It pays 2.53% APY on balances up to $50,000 (0.50% for above) if the following monthly requirements are met:

• 12 debit card purchases
• 2 ACH direct deposits or ACH autopayments
• receive e-statements
• maintain a valid email address

If these are not met, the rate falls to 0.25%. There are no minimum balance fees. There doesn't seem to be any refunds of ATM fees, however, free nationwide withdrawals are available at ATMs with the MoneyPass Logo.

It appears a branch visit is required to open an account. Branches are located in the southwest Utah. Some of the cities include Cedar City, Santa Clara and St. George. The bank has been FDIC insured since 1959 (FDIC Certificate # 17964).

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:
10/07/09: 2.53% APY up to $50K
07/14/09: 2.78% APY up to $50K
06/03/09: 3.04% APY up to $50K
04/10/09: 3.30% APY up to $50K
01/06/09: 3.56% APY up to $50K; 0.50% over $50K, 0.25% if requirements not met
12/28/08: 4.06% APY up to $50K; 0.75% over $50K, 0.25% if requirements not met

Tags: Utah, checking account, reward checking account