3.55% Reward Checking Account at America West Bank in Utah

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Update 5/01/09: The bank was closed by State regulators. Refer to this FDIC page for details.

America West Bank is offering a reward checking account that pays up to 3.55% APY on balances up to $25,000 (1.51% for above) and refunds ATM fees if the following monthly requirements are met:
  • 10 debit card purchases
  • one automatic deposit
  • log into online banking
  • receive e-statements
If these are not met, the rate falls to 0.30%. There is no monthly service charge.

There's another requirement to receive the highest interest rate. The bank has four levels of membership with different requirements. This is described in this Membership Levels Page (pdf). The top two levels offer the maximum reward checking interest rates. The Executive Level appears to require $5,000 in the savings account. The Equity Level appears to require $1,000 in the savings account and a $25K minimum equity investment. Refer to the bank's rate table (pdf) for all of the different rates.

It appears a branch visit is required to open an account. Branches are located in the Utah cities of Layton, Murray, Ogden, Draper and St. George.

America West Bank has been FDIC insured since 2000 (FDIC Certificate # 35461).

Thanks to the reader who emailed me info on this reward checking account.

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.
Comments
3.30% 12-Month CD at America West Bank in Utah
America West Bank has a CD promotion with a 3.30% APY for a term of 12 months. Minimum deposit is $25,000. This promotion is listed at the bottom of the bank's home page, and in the bank's CD page. Promotion expires 2/27/2009.

The bank also offers a reward checking account with a rate of up to 3.55% APY on balances of up to $25K (see post).

It appears a branch visit is required to open an account. Branches are located in the Utah cities of Layton, Murray, Ogden, Draper and St. George.

America...





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The special doesn't seem to be listed at the bank's website. A reader emailed me info on this, and I called yesterday for further details. According to the CSR, it requires a branch visit. In addition, you have to be within their local area. I asked if Brigham City was close enough, and the CSR said probably not....



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