Update 4/16/10: The top rate has increased to 4.01% APY but the balance cap has fallen to $15K.
Pony Express Bank is offering a rewards checking account which offers the following features if certain monthly requirements are met:
- 4.01% APY on balances up to $15,000
- 0.51% APY on balances over $15,000
- 0.05% base rate if qualifications are not met
- ATM fees nationwide refunded without limit
The monthly requirements include:
- 10 Visa debit card purchases
- one direct deposit or automatic payment
- receive e-statements
Additional features of the account regardless of the monthly requirements include:
- $100 minimum opening deposit
- No minimum balance requirement
- No monthly service fees
- Multiple accounts can be opened, but requirements for each must be met to receive the top rate
It appears that a branch visit is required to open an account. Branches are located in the Missouri cities of Liberty and Braymer.
The bank has been FDIC insured since 1934 (FDIC Certificate # 4526).
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.
- 04/16/10: 4.01% APY up to $15K; 0.51% over; 0.05% base
- 11/02/09: 3.15% APY up to $25K
- 08/18/09: 4.01% APY up to $25K
- 04/08/09: 5.01% APY up to $25K; 1.01% over; 0.15% base