3.59% Reward Checking Account at First National Bank of Olathe in Kansas

Update 10/15/09: The bank is no longer offering the MoneyMaker Checking account.

First National Bank of Olathe has a reward checking account called MoneyMaker Checking. The account offers the following features if certain monthly requirements are met:

• 3.59% APY on balances up to $25,000
• 1.32% APY on balances over $25,000 (assumes a $100K balance)
• 0.25% base rate if qualifications are not met

The monthly requirements include:

• 12 signature-based check card purchases
• one direct deposit or ACH auto debit
• receive e-statements
• access online banking

Additional features of the account regardless of the monthly requirements include:

• $100 minimum initial deposit
• no minimum balance requirement
• no monthly fees
• free Bill Pay
• up to 3 foreign ATM transactions reimbursed per month

There's an online application, but at the top of the application it states: "Generally, applications outside of our market area will not be accepted. Our market area is defined as Johnson County, Kansas and the Kansas City Metropolitan area."

The bank has been FDIC insured since 1934 (FDIC Certificate # 4744).

Update 12/08/09: Here is the reply I received from the bank concerning why they stopped offering the MoneyMaker Checking account:

We are no longer offering the MoneyMaker Checking account. With rates dropping the way they are and the shape the economy is in we have decided to not offer this account at this time.

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.

Edit 4/11/09: Corrected ATM reimbursement policy

Rate History:
08/20/09: 3.59% APY up to $25K; 1.32% over; 0.25% base
04/01/09: 5.09% APY up to $25K; 0.75% over; 0.25% base

Tags: Kansas, checking account