Bank of Little Rock is offering a high yield checking account called the Kasasa Cash. It pays 4.01% APY for balances up to $25K. Balances above $25K earn 0.60%. The main requirements are 10 debit card point of sale transactions per statement and direct deposit (or auto draft/debit). It offers free ATM's nationwide with refunds of all charges and there's no minimum balance requirement.
Update 5/13/09: The bank has added a companion savings account called Kasasa Saver. If you meet the monthly Kasasa Cash requirements, you'll earn 3.01% APY on balances up to $1 million in the Kasasa Saver account.
There's now an online application for the Kasasa accounts. However, it only accepts zip codes of their local market area.
The bank has four Little Rock branches. The bank is FDIC insured.
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.
08/12/09: 4.01% APY up to $25K
05/13/09: Account name changed from Ultimate Checking to Kasaa Cash. Added Kasasa Saver Account.
03/13/09: 4.51% APY up to $25K; 0.60% APY over $25K
04/20/08: 5.01% APY up to $25K; 1.01% APY over $25K
01/05/07: 6.01% APY up to $25K; 1.51% APY over $25K