Update 6/15/2011: The rate tier has fallen from $25K to $15K
It's rare for me these days to find a new bank that's offering a top rate on a reward checking account. I just came across one that's based in Nebraska. It's American National Bank, and it's offering a reward checking account called Smart Checking. It has the following rates and features if certain monthly requirements are met (as of 2/18/2011):
- 4.05% APY on balances up to $15,000
- 0.50% APY on portion of balances over $15,000
- 0.10% base rate if requirements are not met
- ATM fee refunds up to $5 per transaction (includes the waived $2 foreign ATM fee from American National, and $3 for fees incurred from another institution)
Monthly requirements include:
- 12 Visa check card purchases
- 1 Direct Deposit, automatic debit, Bill Pay
- Access Online Banking
- Receive your statements electronically
Minimum initial deposit is $100. There is no minimum balance requirement and no monthly service charge.
It appears a branch visit is required to open an account. Branches are located in Nebraska and Iowa. Some of the Nebraska cities with branches include Omaha, Lincoln, Plattsmouth, Fairbury, Tecumseh, Humboldt and Papillion.
The bank is headquartered in Omaha and is the 8th largest bank in Nebraska. It has an overall health score at DepositAccounts.com of 4 out of 5 with a Texas Ratio of 11.35% (excellent) based on September 2010 data. Please refer to our financial overview of American National Bank for more details. The bank has been a FDIC member since 1964 (FDIC Certificate # 19300).
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.
- 06/15/2011: 4.05% APY up to $15K; 0.50% over
- 02/18/2011: 4.05% APY up to $25K; 0.65% over; 0.10% base