Peoples Bank of Kankakee County has a reward checking account called Electric Blue Rewards Checking. The account offers the following rates and features if certain monthly requirements are met:
- 3.33% APY on balances up to $50,000
- 0.50% APY on balances over $50,000
- 0.25% base rate if qualifications are not met
- Refund of ATM fees nationwide (up to $5 per transaction, $25 per cycle)
- 12 debit card purchases
- One direct deposit or auto payment
- Access internet banking
- $100 minimum initial deposit
- No minimum balance requirement
- No monthly service charge
- Free online Bill Pay
This is a small two-office bank located in Illinois. The bank has been FDIC insured since 1962 (FDIC Certificate # 18566).
Other Reward Checking Accounts
It's nice to see another nationwide reward checking accounts. It's also nice to see one with a cap of $50K instead of $25K. As you can see in my nationwide reward checking list, there are very few with caps over $25K. Note, small banks often change their policies regarding availability of their accounts, especially when they offer some nice rates or features. So please consider this possibility if you apply.
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.
11/03/09: 3.33% APY up to $50K; 0.50% over; 0.25% base
07/21/09: The account is no longer available nationwide. The bank now only accepts applicants from Illinois.
04/28/09: 4.01% APY up to $50K; 1.00% over; 0.50% base