Update 9/19/09: The top rate is scheduled to fall to 4.01% effective 9/23/09.
Provident Community Bank is offering a reward checking account called Dream Checking that pays 4.01% APY on balances up to $50,000 (1.01% for above) and refunds ATM fees worldwide without limits if the following monthly requirements are met:
- 10 Visa debit card purchases
- one direct deposit or ACH auto debit
- receive electronic statements
- access online banking
Update 7/11/09: It has been reported that the bank now limits accounts to two per individual.
There's an online application, however, I was told they require you to come into one of their branches to complete the paper work. Branches are located in the South Carolina cities of Union, Jonesville, Winnsboro, Laurens, Rock Hill and Simpsonville.
The bank has been FDIC insured since 1934 (FDIC Certificate # 28997).
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.
09/23/09: 4.01% APY up to $50K;
02/18/09: 4.51% APY up to $50K
12/04/08: 5.26% APY up to $50K; 1.01% over; 0.10% base