Texas Bank (TX) Reward Checking Rate Drop (4.0R,4.07APY) To (3.0R, 3.04APY) $25K Cap Unchanged

I check the website daily and noticed the rate change this morning.  It's not unexpected, as members of the 4% club have been dropping steadily.  However, when I called for confirmation and details, the new accounts staff was surprised because they had not been notified of the rate change. 

A reward qualification cycle just ended 10/11, current qualification cycle closes 11/8. 

I will post an update with more info as it becomes available.

 

 

CSR confirmed change is retroactive to the beginning of the current qualification cycle. 

Ken would be the best one to speak to this, but I think DepositAccounts extracts and downloads rate information in the evenings, and the rate change at Texas Bank was made this morning.  That would explain why the local RCA table would not have reflected it.  The rate change will probably be picked up with the next extract/ download.