5.00% Reward Checking Account at Cedar Rapids Bank & Trust in Iowa - Local Only

Cedar Rapids Bank & Trust is offering a high-rate reward checking account called M@XX Checking. The account has the following rates and features if certain monthly requirements are met:

• 5.00% APY on balances up to $25,000
• 0.10% APY on portion of balance over $25,000
• Refunds ATM fees nationwide up to $20 per month

The monthly requirements include:

• 15 check card purchases (excludes PIN-based)
• 1 direct deposit or ACH debit
• Receive e-statements and be enrolled in online banking

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

• $100 minimum initial deposit
• No minimum balance requirement
• No monthly service charge
• First box of checks is free

It appears that a branch visit is required to open an account. Branches are located in Cedar Rapids, Iowa.

The bank's ratings for safety and soundness are strong: 4 stars (excellent) at BauerFinancial and 4 stars (sound) at Bankrate.com. Both ratings are based on 6/30/09 financial data. The bank has been a FDIC member since 2001 (FDIC Certificate # 57244).

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.