Fort Morgan State Bank is offering a very competitive rate on its reward checking account that it calls Windmill Smart Checking. The account is described in the bank's what's new page as of 12/15/2010 with the following rates and features:
- 4.05% APY on balances up to $25,000
- 0.25% on portion of balance over $25,000
- 0.25% base rate if requirements are not met
Monthly requirements include:
- 12 Visa debit card purchases
- One direct deposit or ACH debit
- Receive e-statements
The best nationally available reward checking accounts are only paying around 3.00% APY on balances up to $25K as of 12/15/2010. As in this case, you often can get higher rates with local deals.
It appears that a branch visit is required to open an account. It's a small bank with 2 offices in Fort Morgan, Colorado which is about 60 miles northeast of Denver.
The bank has an overall health score at DepositAccounts.com of 3 out of 5 with a Texas Ratio of 17.39% (excellent) based on September 2010 data. Please refer to our financial overview of Fort Morgan State Bank for more details. The bank has been a FDIC member since 1982 (FDIC Certificate # 23764).
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.