4.34% Reward Checking Account at First National Bank of Trenton in TX - Local Only

POSTED ON THURSDAY, SEPTEMBER 17, 2009 BY Ken Tumin

First National Bank of Trenton is offering a reward checking account with the following rates and features if certain monthly requirements are met:

4.34% APY on balances up to $35,000
1.26% APY on portion of balance over $35,000
0.10% base rate if qualifications are not met
ATM fee refunds nationwide up to $30 per cycle

The monthly requirements include:

10 check card point of sale transactions (excluding ATM transactions)
1 ACH per cycle (direct deposit or debit)
Access online banking
Receive e-Statements (with images)

Additional features of the account regardless of the monthly requirements include:

$25 minimum opening deposit
No minimum balance requirement
No monthly service charge
First 50 checks free

A word of caution: requirements must be met even the first month, i.e., no grace period like most typical rewards openings, so, if possible, opening should be selected to occur a day or so after close of the previous cycle, thus giving yourself time to receive and use the check card and setup an ACH transaction.

Although an online application is available, a branch visit is required to open an account. Branches are located in the Texas communities of Trenton, Bonham, Leonard, Melissa and Farmersville.

The bank's ratings for safety and soundness are average: 3 stars (adequate) at BauerFinancial (based on 6/30/09 data) and 4 stars (sound) at Bankrate.com based on 3/31/09 data.

The bank has been a FDIC member since 1934 (FDIC Certificate # 5558).

Other Reward Checking Accounts

Over 80 First National Banks (in many scattered Texas communities) exist, but only two openly offer reward checking - Trenton (above) and Giddings.

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

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5 Comments.

Anonymous | Sep 17, 2009 | Comment #1

$5000 balance is too much to qualify for $300 bonus.

Duck | Oct 1, 2009 | Comment #2

Update went to branch in Farmersville located off 380 and 78This is a small bank outfit was told this rate has been in effect for last 3 years. A few things that is bad about it is the fact they are so small takes a few weeks to get everything up and running IE: Check Card comes snail mail, Online banking is 2 parts you receive one by snail other by email *nothing is done fast or quickly*(Texas motto I think). Now good do not need direct deposit just a monthly ACH to somewhere and only 10 purchases a month is under the 15 I usually see associated with these accounts. Banking Guy I will keep you updated with any new info and or problems on this account as I come across them. Thanks BankingGuy I pass this bank every time on my way down to do shopping never went in and probably never would have with knowing this info at least it will earn something till rates return Duck

Banking Guy | Oct 1, 2009 | Comment #3

Duck, Thanks for the info. Don't forget that the qualifications have to be met even for the first month. Thus, the slowness is an issue. You might want to wait until next month before making a large deposit.

Duck | Oct 2, 2009 | Comment #4

Only opened yesterday with $30 to get ball started but one thing thats not a problem is that they allow a ACH as a fulfillment of DD that requirement I just set a monthly withdrawal(debit) from their account to my Scottrade account(They use MoneyDirect)gave me the starter checks at bank yesterday now as long as the card/online comes fast enough I will deposit more and should be able to get the online set up by in by 21st the third wensday when the statment closes that way all I need is the 10 charges and sign into account at least once a month

Duck | Oct 19, 2009 | Comment #5

Another update to the FNB reward checking account I recieved all parts (CheckCard,Mail login info,Checks)a lot faster less than 2weeks, than they told me to expect them. I was told any Checkcard purchase qualifies as long as it is a POS. I really did not think I would make everything work the first month but I did I have allready deposited 2matured CD's in there. I just use this card in places where my Chase Freedom does noy get 5% but only gets 1% like the pizza place or vet and Costco where I paid cash I figure I am gonna spend the money anyway so why not get the better rate $ for it. Weird thing is they give a space where it tells you "accured intrest" in addition as to tempt you to do this crap. This is my first rewards checking normally I lock my funds up (CD,s,Investments)and would not bother but better than twice the rate of 12CD was just toooooo tempting. Just wanted to let you know BankingGuy that I got the components faster and thanks
Duck