South Dakota Banking Rates and News

Bank of the West has just started a new checking account promotion with a $100 bonus that's scheduled to last until 9/16/2011. Here's the link to the offer. Unlike previous Bank of the West promotions, this one requires direct deposit. There doesn't seem to be online bill pay option. Like previous promotions, only those who reside in their market area are eligible (see below for the eligible states). The bank is still advertising a free checking account with no monthly service charges or monthly fees. This is becoming rare for large banks.

Below is the...

Update 10/31/2011: The promotion has been extended. However, it now requires 15 qualifying transactions.

TCF Bank is offering a $100 cash bonus for opening a checking account and performing 10 qualifying transactions within 60 calendar days of account opening. The offer is scheduled to end on Dec 31, 2011 June 30, 2011. No direct deposit is required. This special is listed at TCF’s home page. The details are provided in this TCF promotions page. Below is the promotion’s small print:

Offer applies to TCF non-interest bearing checking accounts. The account must have a total of 10...

Every now and then Doral Bank Direct offers competitive CD rates. Its latest deal is a 1-year CD with a 1.40% APY. Minimum deposit is $1,000. This is the only rate that's competitive. All the other CD rates are low. These rates are listed in the bank's CD page as of 3/29/2011.

My last report on this bank was about a year ago when they were offering a 1-year CD special. One odd thing is their requirement to close out a CD. You have to send them the original Certificate that was sent...

Update 4/3/2011: The bonus has been extended to 4/22/2011.

Bank of the West has another $100 checking account bonus. This new bonus is scheduled to last until 3/25/2011, and like the promotion from last July it allows either direct deposit of at least $250 or 10 online bill payments. One difference is that this new one requires that each bill payment be at least $25. The direct deposit or bill payment most be completed within 60 days of account opening.

Update 2/14/11: The promotion is now listed on Bank of the West's website. Here's the promotion link.

As...

Update 10/15/2010: The 55-month CD rate has fallen to 2.70% APY.

Reliabank Dakota is offering a competitive long-term CD with a 3.05% APY for a 55-month term. Minimum deposit is $5,000. The special is listed in the bank's savings rates page as of 10/14/2010.

As a comparison the best 60-month CD from an internet bank has a rate of only 2.75% APY (at Sallie Mae Bank as of 10/14/2010).

This special can be opened using the bank's online application (link on the left sidebar). I called the bank yesterday at their toll-free number (800-525-0399)....

Bank of the West has another $100 checking account bonus. This new bonus is scheduled to last until 8/20/2010, and like the last one it allows either direct deposit of at least $250 or 10 online bill payments. The details are listed in the bank's promotion page. Below is the promotion's small print. I've highlighted the important details:

Open any new personal checking account, and either establish one monthly recurring direct deposit of at least $250 to your new account or make 10 bill payments at Bank of the West Online Banking and receive a $100...

MetaBank is offering a high-yield reward checking account called Preferred Checking Plus. It's one of the rare reward checking accounts that has the potential of monthly fees. However, the rate is above average so it may be worth the risk of monthly fees. The account has the following rates and features if certain monthly requirements are met (as of 5/12/2010):

• 4.25% APY on balances up to $25,000
• 0.60% APY on portion of balances over $25,000
• 0.10% base rate if requirements are not met

Monthly requirements include:

• 15 debit card purchases (used to be 20)
• 1 Direct Deposit of your salary or other...

Greater Western Bank is offering three CD specials. The most competitive one is a 2.18% APY 18-month CD. The other two are a 2.68% APY 38-month CD and a 3.08% APY 58-month CD. These rates include a 0.15% bonus for new or existing checking or savings account customers. Minimum deposit is $5,000, and new money is required. These special CD rates are listed in the bank's CD page as of 2/01/2010.

It appears that a branch visit is required. Branches are located in the states of Arizona, Colorado, Kansas, Nebraska,...

You can fund the CD by either wiring the...

Update 5/24/2010: This account is no longer available nationwide. The bank is now restricting applications to residents of SD, ND, NE, MN and IA.

First Bank & Trust is offering a reward checking account called easyGROW Checking. The account has the following rates and features if certain monthly requirements are met:

• 4.01% APY on balances up to $25,000
• 0.75% APY on portion of balance over $25,000
• 0.20% base rate if monthly requirements are not met
• Refunds all ATM fees worldwide without limit

The monthly requirements include:

• 10 Visa check card purchases
• 1 automatic payment or direct deposit
• Receive e-statements

Additional features of the account...