High-Yield Reward Checking Account at Cedar Rapids Bank & Trust in Iowa - Local Only

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Cedar Rapids Bank & Trust is offering a high-rate reward checking account called M@XX Checking. The account has the following rates and features if certain monthly requirements are met:

  • 4.00% APY on balances up to $25,000
  • 0.20% APY on portion of balance over $25,000
  • 0.10% base rate if requirements are not met
  • Refunds ATM fees nationwide up to $20 per month

The monthly requirements include:

  • 15 check card purchases (excludes PIN-based)
  • 1 direct deposit or ACH debit
  • Receive e-statements and be enrolled in online banking

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

  • $100 minimum initial deposit
  • No minimum balance requirement
  • No monthly service charge
  • First box of checks is free

It appears that a branch visit is required to open an account. Branches are located in Cedar Rapids, Iowa.

The bank's ratings for safety and soundness are strong: 4 stars (excellent) at BauerFinancial and 4 stars (sound) at Bankrate.com. Both ratings are based on 6/30/09 financial data. The bank has been a FDIC member since 2001 (FDIC Certificate # 57244).

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.

Rate History:

  • 11/01/10: 4.00% APY up to $25K; 0.20% over; 0.10% base rate
  • 11/24/09: 5.00% APY up to $25K; 0.10% over
Related Pages: Cedar Rapids Bank & Trust, Cedar Rapids, checking account, reward checking account

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