High-Yield Reward Checking Account at Andrew Johnson Bank in Tennessee - Local Only

Andrew Johnson Bank is offering a reward checking account called Sky High Checking. The account offers the following rates if certain monthly requirements are met:

• 4.00% APY on balances up to $25,000
• 0.50% APY on balances over $25,000
• 0.25% base rate if qualifications are not met

The monthly requirements include:

• 20 debit card purchases
• one bank draft or deposit such as direct deposit
• receive e-statements

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

• $100 minimum initial deposit
• No minimum balance requirement
• No monthly service charge
• 4 foreign ATM fees refunded per statement cycle
• Free Online Bill Pay

It appears a branch visit is required to open an account. Branches are located in the Tennessee cities of Greeneville, Morristown and Jonesborough.

The bank has been FDIC insured since 1975 (FDIC Certificate # 22015).

Other Reward Checking Accounts

The 20 debit card purchases a month is one of the toughest reward checking account requirements I've seen. The average is only 10. On the plus side, the top rate is above average.

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.

Rate History:

• 12/01/10: 4.00% APY up to $25K
• 05/19/09: 4.75% APY up to $25K