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DETAILSINSTITUTIONAPYMINMAXPRODUCT
Center National Bank2.02%-$10kCenter Rewards Checking
Accounts mentioned in this post. Rates as of August 1, 2014

High-Yield Reward Checking Account at Center National Bank in MN - Local Only

POSTED ON BY

Center National Bank

Update 6/24/10: The balance cap has fallen to $15K.

Center National Bank is offering a high-interest reward checking account called Centers Rewards Checking. The account has the following rates and features as of 3/09/2010 if certain monthly requirements are met:

  • 4.11% APY on balances up to $15,000
  • 0.75% APY on portion of balance over $15,000
  • 0.25% base rate if requirements are not met
  • Unlimited ATM fee refunds nationwide

Monthly requirements include:

  • 10 debit card purchases
  • One direct deposit or authorize one ACH automatic payment
  • Receive e-statements

Other features of the account include:

  • No minimum deposit requirement to open
  • No minimum balance requirement
  • No monthly maintenance fee

According to the banking representative, Center National Bank has been offering this account since May 2009, and the 4.11% APY has remained the same since then. Of course the rate is subject to change at anytime.

There is an online application, but they do require a branch visit for ID and signature verification. Branches are located in the Minnesota cities of Litchfield and Plymouth. Plymouth is just west of Minneapolis.

The bank's ratings for safety and soundness are strong: 5 stars (superior) at BauerFinancial (based on 12/31/09 data) and 4 stars (sound) at Bankrate.com (based on 9/30/09 data). The bank has been a FDIC member since 1934 (FDIC Certificate # 10976).

Other Reward Checking Accounts

It's not easy these days to find a reward checking account with a yield over 4.00%. The best reward checking accounts that are available nationwide are just over 4% APY.

To find nationally available reward checking accounts and reward checking accounts in your local area, please refer to the reward checking section of DepositAccounts.com.

Rate History:

06/01/10: 4.11% APY up to $15K; 0.75% over

03/15/10: 4.11% APY up to $25K; 0.75% over

03/09/10: 4.11% APY up to $25K; 1.01% over


  Tags: reward checking account, Minnesota, Center National Bank, checking account

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Comments
3 Comments.
Comment #1 by Anonymous posted on
Anonymous
As of 3/15/2010, the rate on balances over $25,000 was decreased to .75% APY. Please note this change.

3
Comment #2 by Jimmy (anonymous) posted on
Jimmy
Center bank does a hard credit check when opening the account.

As of June, 1st 2010 the limit will be decreasing to $15,000.

And dont ask Karen about not sharing your data with affiliates as she will respond "...if he has a problem with that, he can close his account..."

3
Comment #3 by Anonymous posted on
Anonymous
As of 12-13-2010 the limit has decreased to $10,000. Please note this change.

1