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 AccountsTo 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.
