Atlantic Coast Bank Cuts Reward Checking Rate

Atlantic Coast Bank cut the top rate of its reward checking account (iKasasa Cash) today from 3.01% to 2.01% APY. The balance cap remains the same at $15,000. The portion of the balance over $15,000 earns 0.50%.

Below is the account's rate and balance cap history over the last three years:

• 08/15/11: 2.01% APY up to $15K; 0.50% over
• 11/01/10: 3.01% APY up to $15K
• 08/01/10: 3.01% APY up to $25K; 0.75% over; 0.05% base
• 11/19/09: 3.25% APY
• 06/27/09: 3.50% APY
• 12/31/08: 4.00% APY
• 07/09/08: 5.08% APY up to $25K; 1.00% over; 0.25% base