High-Yield Checking Account at a Wisconsin/Illinois Bank (Blackhawk)


Update 6/6/11: The balance cap has fallen from $25K to $15k. Refer to the bottom of the post for the rate history.

Blackhawk Bank has a 3.01% APY checking account called the EasyMoney Checking. It's a reward checking account, and the APY applies to balances up to $15K (0.25% for over). The main requirement for this EasyMoney Checking is that you make 10 point-of-sale debit card transactions per statement cycle. There's no direct deposit requirement. Also, there are no minimum balance requirements or monthly fees. Another perk is automatic refunds of all ATM transaction fees worldwide. If requirements are not met, the rate falls to 0.05%.

According to the bank representative, they require a branch visit to open the checking account. Branches are located in the Wisconsin city of Beloit and in the Illinois cities of Roscoe, Machesney Park, Rockford, Belvidere and Capron.

The bank has been FDIC insured since 1934. It has an average safe and sound rating at Bankrate.com of 3 out of 5 stars (performing) as of 10/10/06.

Thanks to the reader who mentioned this checking account in the finding deals post.

Rate History:

  • 06/06/11: 3.01% APY for up to $15K; 0.25% for above; 0.05% base (not sure when this took effect)
  • 08/17/09: 3.01% APY for up to $25K
  • 12/23/08: 4.01% APY for up to $25K; 1.00% for above; 0.15% if req's not met (updated 1/14/09)
  • 10/10/06: 5.01% APY (initial post)

Edit 3/22/09: Updated eligible ATM fee refunds from domestic to worldwide

Related Pages: Blackhawk Bank, Chicago, Rockford, Madison, checking account, reward checking account

  |     |   Comment #1
The past couple interest bearing checking accounts sounds really sweet, but does the 10 required check-card transactions each month sound a bit high to anyone else? There are some months where I don't have 10 transactions on my credit card, let alone my bank card.


I've been putting off getting an everbank.com checking account mostly because I wasn't all that enticed with the 3.25% and a little turned off by the hard credit pull, but it's certainly better than nothing.
Banking Guy
  |     |   Comment #2
Yes, the 10 check-card transactions per month would be a hassle for me. However, you could get into a habit of making 2 or 3 debit transactions for gas or groceries per week to satisfy the monthly requirement. But these could eat into the cash back credit cards.

I have to agree that Everbank has one of the best checking account rates without any requirements or minimums (assuming you don't use billpay).
  |     |   Comment #3
ten isnt that many credit card transactions to make in a month; a couple times i've been just short of the monthly total and i've had my employees use their cards just so i can make it up and then i'd pay them back in cash... i dont think its legal but thats what i've done!
  |     |   Comment #4
Effective Dec. 16, 2008 the rate is 4.01% APY up to $25K; 1.00% over $25K; free ATM worldwide
  |     |   Comment #5
Along with the 4.01% APY up to $25K goes 1.00% APY for amounts over $25K, and 0.15% if requirements not met.
  |     |   Comment #6
Please revise per PDF page: from "domestic ATM...." to "worldwide ATM..." Thanks.
  |     |   Comment #7
If you check out bankrate.com, Blackhawk is actually at 4 out of 5 stars now.
Business Cash Advance
  |     |   Comment #8
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Business cash advance
  |     |   Comment #9
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