State Bank of Toledo Cuts Reward Checking Balance Cap to $25K

State Bank of Toledo's reward checking account had a $70K balance cap for over two years. They have just cut it to $25K. So their top rate of 2.51% APY now only applies to balances up to $25K. The portion of the balance over $25K earns 1%.

This is yet another way banks can reduce the interest they pay on reward checking accounts. Refer to my account review for more details.