Commercial Bank and Trust Company is offering a reward checking account called Choice Checking with a rate that's currently much better than what you can get from nationally available reward checking accounts. Choice Checking has the following rates if certain monthly requirements are met (as of 12/03/2010):
- 4.09% APY on balances up to $25,000
- 0.80% APY on balances over $25,000
- 0.05% base rate if requirements are not met
Monthly requirements include:
- 12 debit card purchases
- One ACH debit/credit
- Access NetTeller at least once
- Receives e-statements
There is no monthly maintenance fee. Also, there are unlimited foreign ATM refunds, and this doesn't appear to be conditional with meeting the monthly requirements.
It appears that a branch visit is required to open an account. Branches are located in the Tennessee cities of Memphis, Jackson, Paris and Union City.
The bank has an overall health score at DepositAccounts.com of 4 out of 5 with a Texas Ratio of 7.43% (excellent) based on September 2010 data. Please refer to our financial overview of Commercial Bank and Trust for more details. The bank has been a FDIC member since 1934 (FDIC Certificate # 8660).
Other High-Yield Reward Checking Accounts
To find reward checking accounts in your state or to find those available nationwide, please refer to the reward checking section of DepositAccounts.com.