Britton & Koontz Bank, NA is offering a reward checking account called Smart Rate Checking. The account has the following rates and features if certain monthly requirements are met:
- 5.25% APY on balances up to $30,000
- 1.01% APY on portion of balance over $30,000
- 0.10% APY base rate if requirements are not met
The monthly requirements include:
- 12 debit transactions (Point of Sale)
- 1 Automatic deposit or debit
- Access online banking
- Receive e-statements
Additional features of the account regardless of the monthly requirements include:
- No minimum balance requirement
- No monthly service charge
- Multiple accounts (2) can be opened, but requirements must be met for each to receive the top rate
I can find nothing regarding ATM refunds, possibly a reason for the truly excellent rate.
A branch visit is required to open an account. Branches are located in Natchez and Vicksburg, Mississippi, and Baton Rouge, Louisiana.
The bank has some strong ratings for safety and soundness: 5 stars (superior) at BauerFinancial and 3 stars (performing) at Bankrate.com based on 3/31/09 data.
The bank has been a FDIC member since 1934 (FDIC Certificate # 4995).
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.
Edit 10/8/2010: Updated link to the Smart Rate Checking.