3.05% Reward Checking Account at a Colorado Bank (Bank of Choice)

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Update 6/07/09: The top yield has fallen to 3.05% APY. See bottom of post for the rate history.

Bank of Choice is offering a reward checking account called Choice Reward Checking that pays 3.05% APY on balances up to $35,000 (0.49% for over) and refunds ATM fees nationwide if the following monthly requirements are met: 1) 8 MasterCard debit card purchases, 2) automatic withdrawal or direct deposit, and 3) receiving electronic statements. If these requirements are not met, the rate falls to 0.49%. The minimum opening balance is $100.

The Choice Reward Checking account's rates and requirements are listed under the bank's rate table (pdf).

Based on my past reports on this bank, you must reside in the bank's market area to open an account. Branches are located in Evans, Greeley, Platteville, Fort Collins and Windsor, Colorado. The bank is a member FDIC (Certificate # 34502).

I came across this reward checking account from this article. It also mentions the reward checking account offered by Home State Bank, which is also in Colorado. I posted on this bank and its reward checking last August.

Other High Yield Reward Checking Accounts

Please see my reward checking overview for general information and a history of these reward checking accounts. For other reward checking accounts please see my list of reward checking accounts around the nation and the best checking account post.

Edit 11/22/08: New URLs for Bank of Choice.

Rate History:
06/02/09: 3.05% APY up to $35,000
04/15/09: 3.25% APY up to $35,000
03/04/09: 4.00% APY up to $35,000
01/06/09: 4.50% APY up to $35,000, 0.49% for above, 0.49% if req's not met
08/08/08: 5.01% APY up to $35,000, 0.76% for above, 0.76% if req's not met
01/21/08: 6.03% APY up to $35,000, 1.01% for above

Edit: Added URL to new checking page, and added info on ATM fee refunds.
Comments
Anonymous
Anonymous   |     |   Comment #1
Bank of choice rate as shown on its website has deopped to 5.01%, another victim of the trend.
Anonymous
Anonymous   |     |   Comment #2
As of 1/6/09 for amounts over $35K the yield is 0.49% APY, and the same if requirements not met.
Anonymous
Anonymous   |     |   Comment #3
rate is now at 4.5% as of 1/6/09
Anonymous
Anonymous   |     |   Comment #4
Rate is now at 4.0% as of 3/4/09
thiseye
thiseye (anonymous)   |     |   Comment #5
down to 2.38% now ... of course days after I opened it. :-\
Anonymous
Anonymous   |     |   Comment #6
Reward rate freefall!  Now under 1%?!

Bank of Choice is losing credibility in CO.
5.75% 13-Month / 5.61% 6-Month CD at a Colorado Bank (Bank of Choice).
Update 9/22/07: CD rates have gone down. Please check bank's website for latest rates.

Bank of Choice still has some competitive rates on its certificates of deposit. The special 13-month CD yield is 5.75% APY. The minimum deposit is $1,000. The special 7-month CD still has the 5.45% APY. Both have an Add-On feature that allows additional deposits of $500 or more to be made during the term. There's still a 5.61% APY 6-month and 12-month CD without that Add-On feature. Please refer to the CD page for more info. A...

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6.00% 13-Month CD at a Colorado Bank (Bank of Choice).
Update 9/8/07: The 6% CD has dropped back down to 5.75% APY.

Bank of Choice just increased the yield of its special 13-month CD from 5.75% to 6.00% APY. The minimum deposit is $1,000. The special 7-month CD still has the 5.45% APY. Both have an Add-On feature that allows additional deposits of $500 or more to be made during the term. There's also a 5.61% APY 6-month CD without that Add-On feature. Please refer to the CD page for more info. A link to the pdf rate table is located...

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5.75% 13-Month CD at Colorado Bank (Bank of Choice)
Bank of Choice is offering a special 5.75% APY 13-month certificate of deposit. The minimum deposit is $1,000. There's also a special 7-month CD with a 5.45% APY. Both have an Add-On feature that allows additional deposits of $500 or more to be made during the term. Please refer to the CD page for more info. A link to the pdf rate table is located in this page.

This seems to be a local deal that requires a branch visit. Branches are located in Northern Colorado and in the Denver Metro...

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