5.00% Reward Checking Account at Quad City Bank & Trust in Iowa - Local Only

Quad City Bank & Trust is offering a high-yield reward checking account called the U Account. It has the following rates if certain monthly requirements are met:

• 5.00% APY on balances up to $25,000
• 0.01% APY on portion of balance over $25,000

The monthly requirements include:

• 15 Visa check card purchases (credit-based)
• Maintain a valid email address

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

• $100 minimum opening deposit
• No minimum balance requirement
• No monthly service charge
• ATM fee refunds

Unlike the typical reward checking account, I don't see any direct deposit or ACH debit requirement. Also, the ATM fee refunds don't appear to depend on meeting the monthly requirements.

It appears that a branch visit is required to open an account. Branches are located in the Iowa cities of Bettendorf, Davenport and Moline.

The bank's ratings for safety and soundness are above average: 4 stars (excellent) 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 1994 (FDIC Certificate # 33867).

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.

Tags: Iowa, checking account, reward checking account