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Reward Checking Account at First City Bank in Florida


First City Bank

Update 6/17/10: The top rate has fallen to 1.10% APY, and the account is no longer available nationwide. Refer to the bottom of the post for the account history.

First City Bank is offering a rewards checking account that pays 1.10% APY on all balances and refunds ATM fees (up to $25 per month) if the following monthly requirements are met:

  • 10 check card (POS) purchases
  • one ACH debit or direct deposit
  • receive eStatements and be enrolled in online banking

If these are not met, the rate falls to 0.10%. Minimum initial deposit is $100. There is no monthly fee. One perk is the first order of checks is free.

There's an online application, and the bank is currently allowing people from any state to apply. After the application is submitted, they'll call you to verify your identity. Then they'll send you the forms in the mail for your signature. Please contact the bank for more details. They have a toll-free number (888) 244-5151.

The bank is based in Fort Walton Beach, Florida. It has been FDIC insured since 1948 (FDIC Certificate # 16748).

Thanks to the reader who sent me email on this reward checking account.

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. Refer to this page to find reward checking accounts available nationwide. Although there are many nationwide reward checking accounts with rates higher than 3.51%, most have balance caps of $25K.

Rate History:

06/17/10: Applications no longer available nationwide

02/??/10: 1.10% APY on all balances; 0.10% base
10/22/09; 3.01% APY up to $25K; 1.25% over; 0.10% base
02/25/09: 3.51% APY up to $50K; 1.01% over; 0.26% base

  Tags: First City Bank, checking account, reward checking account, Florida

Related Posts

Comment #1 by Anonymous posted on
Whats the fastest way to get a debit card purchase to post to your account for the 10 debit requirements? Is it possible to have it posted on the same day?

Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
If the bank allows PIN-based debit card purchases to count toward the debit card usage requirement, that would be faster than the signature-based option.

Comment #3 by Anonymous posted on
First city today changed their rewards checking interest to 3.01% APY and that is up to $25,000. A big change, not just in rate, but in limit, which was previously $50,000.