Update 12/21/10: The top rate has fallen to 1.61% APY.
Bank of Asheville is offering a reward checking account called eZchecking. It pays 1.61% APY on balances up to $25,000 (0.50% for above) and refunds ATM fees nationwide if the following monthly requirements are met:
- 10 check card purchases
- one direct deposit or ACH auto debit
- receive e-Statements
If these are not met, the rate falls to 0.10%. Minimum opening deposit is $100. There is no minimum balance requirement or monthly service fee. Customers may open up to two eZchecking accounts. A third account requires approval by branch administration. Requirements must be met for each account.
According to the FAQs, a branch visit is required to open account. Branches are located in Asheville and Candler, North Carolina.
The bank has been FDIC insured since 1997 (FDIC Certificate # 34516).
Thanks to reader Atlanta Wolf who mentioned this checking account in the comments.
Other Reward Checking Accounts
To find reward checking accounts in other areas of the nation or to learn more about these accounts, please refer to my High Yield Checking website.
- 12/16/10: 1.61% APY up to $25K
- 09/16/10: 3.00% APY up to $15K
- 06/17/10: 3.65% APY up to $??K; 0.50% over
- 11/20/09: 4.00% APY up to $25K
- 08/25/09: 4.45% APY up to $25K
- 03/01/09: 5.05% APY up to $25K; 1.01% over; 0.10% base