High-Yield Reward Checking Account at Geo. D. Warthen Bank in Georgia - Local Only

Update 6/17/10: The top rate has dropped from 5.01% to 4.01% APY.

Geo. D. Warthen Bank is offering a reward checking account with the following rates and features if certain monthly requirements are met:

• 4.01% APY on balances up to $25,000
• 1.01% APY on portion of balance over $25,000
• 0.50% on all balances if requirements are not met
• ATM fees refunded nationwide without limit

The monthly requirements include:

• 12 Visa debit card purchases
• One ACH debit or credit transaction
• Receive e-Statements and maintain a valid email address

Additional features of the account include:

• $100 minimum initial deposit
• No maintenance fee
• No minimum balance
• Free online Billpay
• First order of checks is free

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

The bank's ratings for safety and soundness are above average: 5 stars (superior) at BauerFinancial and 3 stars (performing) at Bankrate.com. Both ratings are based on 6/30/09 financial data. The bank has been a FDIC member since 1934 (FDIC Certificate # 2154).

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:

06/15/10: 4.01% APY up to $25K

10/19/09: 5.01% APY up to $25K; 1.01% over; 0.50% base