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High-Yield Reward Checking Account at First Nebraska Bank - Local Only

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First Nebraska Bank

First Nebraska Bank is offering a high-yield reward checking account called Real Checking. The account has the following rates and features if certain monthly requirements are met:

  • 3.00% APY on balances up to $25,000
  • 0.50% APY on portion of balance over $25,000
  • 0.25% on all balances if requirements are not met
  • ATM fee refunds nationwide up to $25 per cycle

The monthly requirements include:

  • 10 Visa check card purchases
  • One direct deposit or automatic payment
  • Receive electronic statements

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

  • $25 minimum initial deposit
  • No minimum balance requirements
  • No monthly service charge
  • Multiple accounts can be opened, but requirements must be met for each to earn the top rate

There's an online application at the bank's micro-website. However, the application states that you are expected to come into a branch to complete the application process.

Branches are located in the Nebraska cities of Arcadia, Brainard, Columbus, Decatur, Emerson, Stanton and Valley.

The bank's ratings for safety and soundness are strong: 4 stars (excellent) at BauerFinancial (based on 6/30/09 data) and 5 stars (superior) at Bankrate.com (based on 3/31/09 data). First Nebraska Bank has been a FDIC member since 1934 (FDIC Certificate # 12248).

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:

  • 02/01/11: 3.00% APY up to $25K
  • 07/07/10: 4.00% APY up to $25K
  • 10/05/09: 5.00% APY up to $25K; 0.50% over; 0.25% base
  Tags: First Nebraska Bank, Nebraska, checking account, reward checking account

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Comments
Comment #1 by ts posted on
ts
This bank operates in a weird way. A month and a half after I opened my account, they closed it without notice because I made a ACH transaction that made my balance zero (not overdraft). This was weird because the account was a 'no minimum balance account', and so a zero balance should be okay. I called them and explained that I never asked for a closure. So they reopened it, but after a week I get a call stating that they are closing it again because they don't see any big dollar transactions in the 1.5 months that it was open and apparently because I was 'verbal' on the phone when I had complained about my account being closed without notice. Very weird. Perhaps they want only rich customers. Well, I am doing okay with a 5 figure salary, its just that I decided to wait before entrusting my money to them. So they probably assumed that I am broke. Another possibility is that they might be racist -- looking for just white customers. I am saying this because the vice president seemed to habitually mispronounce and fumble my name a number of times without attempting to actually give it a try to read it right. Overall, a suspect bank, with a suspect management. Stay away. 

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