Update 6/22/09: The top rate has fallen to 3.01% APY. Refer to the bottom of the post for the rate history.
Beacon Bank is offering a rewards checking account with the following features if certain monthly requirements are met:
- 3.01% APY on balances up to $25,000
- 0.10% APY on balances over $25,000
- 0.10% APY on all balances if requirements are not met
- ATM fees refunded nationwide
- 10 check card purchases
- one direct deposit or ACH debit
- log into NetTeller
- receive electronic statements
- No minimum balance
- No monthly fees
- free box of standard checks when you open a new account
Beacon Bank is based in Shorewood, Minnesota with branches in Duluth, Eden Prairie, Excelsior and Shorewood.
The bank has strong ratings for safety and soundness: 5 stars (superior) at BauerFinancial and 4 stars (sound) at Bankrate.com. These ratings are based on 9/30/08 financial data. The bank has been FDIC insured since 1934 (FDIC Certificate # 10581).
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.
06/12/09: 3.01% APY up to $25K
03/11/09: 4.01% APY up to $25K; 0.10% over; 0.10% base rate