4.00% Reward Checking Account at Adams Bank & Trust in NE & CO - Local Only

Update 4/27/2010: The bank extended the rate guarantee to 8/31/2010.

Adams Bank & Trust is offering a high-yield reward checking account called SuperSmart e-Checking. It has the following rates and features if you meet certain monthly requirements:

• 4.00% APY on balances up to $35,000 (guaranteed until 5/31/2010)
• 2.00% on portion of balance over $35,000
• 0.20% base rate if requirements are not met
• ATM fee refunds up to $10 per month

The monthly requirements include:

• 25 debit card purchases (PIN or signature based)
• 1 direct deposit or direct payment (ACH)
• Receive e-statements

Additional account features include:

• $100 minimum initial deposit
• $7 monthly membership fee if requirements are not met

For those who don't want to do 25 monthly debit card purchases, the bank offers the Smart e-Checking which has easier requirements but the rates are lower:

• 2.00% APY on balances up to $25,000
• 1.00% on portion of balance over $25,000
• 0.15% base rate if requirements are not met
• ATM fee refunds up to $10 per month

The monthly requirements include:

• 15 debit card purchases (PIN or signature based)
• 1 direct deposit or direct payment (ACH)
• Receive e-statements

Another reason to choose this account over the SuperSmart e-Checking is that it lacks the monthly fee if you fail to meet the monthly requirements.

It appears that a branch visit is required to open an account. Branches are located in Nebraska and Colorado.

The bank's ratings for safety and soundness are strong: 4 stars (excellent) at BauerFinancial (based on 9/30/09 data) and 4 stars (sound) at Bankrate.com (based on 6/30/09 data). The bank has been a FDIC member since 1962 (FDIC Certificate # 18489).

Other Reward Checking Accounts

The high debit card usage requirement and the monthly fee when requirements are not met are rare for reward checking accounts. Most only require 10 purchases a month and have no monthly fees regardless of meeting the requirements. The only good thing about these requirements is that it should encourage people to use the account as their primary checking account which should make it easier for the bank to maintain the high rates.

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

Rate History:
4.00% APY up to $35K; 2.00% over (guaranteed to 8/31/10)
4.00% APY up to $35K; 2.00% over (guaranteed to 5/31/10)
4.00% APY up to $35K; 2.00% over (guaranteed to 2/27/10)