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3.04% Reward Checking Account at Old Florida National Bank in Florida - Local Only


Old Florida National Bank
Old Florida National Bank is offering a high-yield reward checking account called Optimum Checking. It has the following rates and features if certain monthly requirements are met:
  • 3.04% APY on balances up to $25,000
  • 0.50% on entire balance if the balance is over $25,000
  • 0.50% base rate if requirements are not met
The monthly requirements include:
  • 10 MasterCard debit card purchases
  • 1 ACH direct deposit
  • Access Online Banking with a minimum of 1 Bill Pay
  • Receive e-statements
Additional features of the account regardless of the monthly requirements include:
  • ATM fee refunds nationwide up to 6 per month
  • No more than 10 paper checks paid per cycle
  • No Minimum Balance Requirement
  • No Monthly Maintenance Fee
  • Free Bill Pay

Update 6/13/13: A branch visit is required to open an account. However, people from any state are eligible to open an account if they can physically visit a branch. Branches are located in the Central Florida cities of Orlando, Longwood, Altamonte Springs, Winter Park, Apopka and Inverness.

The bank's ratings for safety and soundness are fair: 3 stars (adequate) at BauerFinancial (based on 9/30/09 data) and 3 stars (performing) at (based on 6/30/09 data). The bank has been a FDIC member since 1982 (FDIC Certificate # 24244).

Other Reward Checking Accounts

To find reward checking accounts in other areas of the nation, please refer to the reward checking section of To learn more about reward checking, please refer to this reward checking overview.

Edit: Noted APY if balance is over $25K.

  Tags: Old Florida National Bank, checking account, reward checking account, Florida

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Comment #1 by Anonymous posted on
your review of high interest rate for banks/credit unions is providing a great service for those of us who are seeking high interest while keeping our asset liguid.  Thank you.

Just a quick note on this bank, which I found out the hard way in my 2nd month when my balance was $25,100.  it does not offer, like the rest of the institions, a standardized rate (3.04%) on a cap (25K)and then lower rate (0.50%) on portion of balance over $25K.  it is actually "Earns reduced rate if ... balances are greater than $25,000" - which is for the whole balance!!!  biggest RIP OFF. 

Comment #2 by 51hh posted on
That (much lower interest rate when balance is over $25K)  is so sneaky!!  They are indeed the RCA snake of the year!!!

Comment #3 by Anonymous posted on
Thank you for this great service. Just want to voice the same words as the other comments. I just succumbed to the interest reduction. I am absolutely certain that we asked the question about what happens when the amount goes to 25,000 and were told that you are paid the higher rate on the 24, 999, and then the lower rate on the balance. I am not sure that this is meant to deceive, or just improper training. I think it is a good bank, but you must be aware and ask the right questions of the right person.