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Canceled: Reward Checking Account at Foundations Bank in Wisconsin - Local Only

POSTED ON BY

Foundations Bank

Update 3/11/2010: The rate is scheduled to drop to 0.85% APY for existing customers effective March 16, 2010. Also, the bank will be replacing this high-yield reward checking account with a checking account that offers cash back from debit card purchases. This new checking account is scheduled to be rolled out in the next 90 days.

Foundations Bank is offering a high-interest reward checking account called Rock Solid Rewards Checking. The account offers the following rates and features if certain monthly requirements are met:

  • 0.85% APY on balances up to $25,000
  • 0.10% base rate if qualifications are not met
  • ATM fee refunds nationwide without limit

The monthly requirements include:

  • 15 debit card purchases
  • 1 direct deposit or automatic payment
  • 2 bill pay transactions
  • Access online banking
  • Receive e-Statements

There is no minimum balance requirement or monthly fee.

If these are too many requirements for you, the bank also offers the Solid Rewards Checking account with fewer requirements. However, the interest rates when you meet the requirements are lower:

  • 3.51% APY on balances up to $25,000
  • 0.50% APY on portion of the balance over $25,000

The reduced monthly requirements include:

  • 10 debit card purchases
  • 1 direct deposit or automatic payment
  • Access online banking
  • Receive e-Statements

The ATM fee refunds and the interest rate when you don't meet the requirements are the same as the Rock Solid Reward Checking.

It appears that a branch visit is required to open an account. The bank is located at Pewaukee, Wisconsin. Foundations Bank has been a FDIC member since 2005 (FDIC Certificate # 57972).

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.

Rate History

03/16/10: 0.85% APY

08/30/09: 5.01% APY up to $25k; 1.01% over $25K; 0.10% base


  Tags: Foundations Bank, Wisconsin, checking account, reward checking account

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Comments
2 comments.
Comment #1 by Anonymous posted on
Anonymous
5% club with 15 debit transactions and two BillPays; still attractive; but definitely local.

1
Comment #2 by Anonymous posted on
Anonymous
I.E., no nline forms available.

1