Update 10/12/2010: The top rate has fallen to 3.25% APY.
South Shore Savings Bank is offering a reward checking account that pays 3.25% APY on balances up to $25K (0.10% for above) and refunds ATM fees nationwide of up to $10 per cycle if the following monthly requirements are met:
- 15 debit card purchases
- one direct deposit
- use Home Banking and Bill Pay at least once
- receive e-Statements
If these are not met, the rate falls to 0.10%. There is a $10 minimum deposit to open and earn interest. There is no monthly fee or minimum balance requirement. One nice perk is that the first order of basic checks is free.
There's an online application that's provided by Andera, but in the application it states that a Massachusetts address is required. Branches are located in Braintree, East Bridgewater, Norwell, Pembroke, Plymouth, Quincy, Stoughton and Weymouth.
The bank has been FDIC insured since 1985 (FDIC Certificate # 90303).
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.
- 10/01/10: 3.25% APY up to $25K
- 03/02/10: 3.69% APY up to $25K
- 07/09/09: 4.04% APY up to $25K
- 01/21/09: 4.44% APY up to $25K; 0.10% over; 0.10% base