High-Yield Reward Checking Account at First State Bank of Kansas City


1.01*%-$15kCommunity First Bank (KS)First Choice Checking
OTHER TIERS: 0.26% $15k+
Rates as of March 24, 2023.

Update 5/28/10: The top rate has fallen to 3.30% APY and the balance cap has fallen to $15K.

First State Bank is offering a reward checking account that pays 3.30% APY on balances up to $15,000 (1.01% for above) and refunds ATM fees up to $25 per cycle if the following monthly requirements are met:

  • 10 debit card purchases
  • one direct deposit or ACH debit
  • receive electronic statements

If these are not met, the rate falls to 0.25%. The minimum initial deposit is $100. There are no monthly service charges and no minimum balance requirements.

Update 5/20/09: It looks like the bank has changed its policy regarding out-of-area applications. It has been reported that the bank is no longer accepting applications from outside the greater Kansas City metropolitan area. This is now stated on the bank's main website.

I asked the bank if this account can be opened online by people from any state. The bank sent me an email saying that one could apply online at this page at CheckingFinder.com, and if the application is approved, you can maintain this account from out of state (see update above). However, I noticed at CheckingFinder that this bank only shows up for Kansas and Missouri zip codes.

Branches are located in Kansas City and Shawnee, KS. The bank has been FDIC insured since 1934 (FDIC Certificate # 12426).

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:

05/28/10: 3.30% APY up to $15K; 1.01% over

10/13/09: 3.94% APY up to $25K (Shown on bank's main webpage. Also states only for KC Metro area)
08/14/09: 4.51% APY up to $25K
08/13/08: 5.03% APY up to $25K; 1.01% APY over; 0.25% over

Related Pages: Community First Bank (KS), Kansas City, checking account, reward checking account

  |     |   Comment #1
opened an account with them. outstanding service; easy fast process.
  |     |   Comment #2
Be warned you cannot initiate ACH transfers from this account. The must be push/pulled from other accounts. Other then that, services is excellent.
  |     |   Comment #3
I had a different experience than the first poster. I applied through Checkingfinder and was denied based on "something" not matching up with "something else". (I never did find out what these items were). I emailed the bank and was told it was probably a glitch in the Checkingfinder app and to try again. I tried again in 2 days and had same result. At that point I was informed that since I had been non-accepted twice, they could not open my account and there was nothing more they could do for me. I asked if I could appeal and they said to take it up with Checkingfinder as their policy was not to accept anyone who failed the Checkingfinder process twice, regardless of why.

I did call Checkingfinder and had a long and very interesting conversation with them. My app was being kicked out before it even got to the identity verification questions. They didn't know why either, but suspected it was from too many ChexSystem inquiries (I am a rate chaser - so?) and they also commented that First State Bank was very stringent in who they accepted. They actually recommended I try applying to a different bank through Checkingfinder, which I did (and was accepted) so I inferred from this that the banks can set their own standards for what passes and what fails on a Checkingfinder application. I also inferred that First State Bank was not telling me the whole truth and so I was not unhappy not to be allowed to do business with them.
  |     |   Comment #4
I live in Utah and I opened an account with First State this month. Today, Reid Hillmer, Senior Vice President of First State, informed me via a comment on my blog (http://www.rickety.us/2009/05/rewards-checking-first-state-bank/#comment-1897) that the bank is no longer accepting applications from outside the greater Kansas City metropolitan area. I confirmed this via email with Rita Brecheisen the bank's Vice President.
  |     |   Comment #5
Another update from First State: I received an email today that stated that the First Choice Checking account is designed to be a primary household checking account for conducting everyday transactions. Then followed a long list of different kinds of transactions they expect to see. No dollar amounts are mentioned though. For those interested see http://www.rickety.us/2009/05/rewards-checking-first-state-bank/ (go to the Updates at the end of the post)
  |     |   Comment #6
looks like the rate dropped to 4.51%
  |     |   Comment #7
The rate dropped again to 3.94 APY or 3.87%.
Banking Guy
  |     |   Comment #8
Thanks for the update. Sorry to see another rate cut. Looks like they're slow in updating their flash-based micro-website. I see they do have the 3.94% APY on their home page along with the KC metro limitation.
  |     |   Comment #9
On my last statement:




Also, I just received an email stating my account will be closed:


Dear Customer 

First State Bank periodically reviews product lines and accounts to determine if there are issues of concern for the bank related to: 1) regulatory and compliance matters; 2) account and/or product line profitability; 3) various kinds of risk exposures; 4) or strategic/marketing fit.  Just as an example, regulatory and compliance issues includes concerns such as the Community Reinvestment Act (CRA).  Under the requirements of the CRA, we must give priority to serving the deposit and loan needs of our local community and limit activities outside of our local trade area.  I mention this because, at our last examination, we were criticized for the number of “out-of-area” deposit accounts. 

Based upon a recent review and in accordance with the “Account Termination” section of the Deposit Account Agreement and Disclosure you received at account opening, we have decided to terminate the First Choice Checking account relationship you currently have with First State Bank. 

Specific information about the closure is included on the enclosed Account Closure Information Sheet. 

We regret having to take this action but thank you for honoring us with this account. 


Reid Hillmer

Sr. Vice President & Cashier 

  |     |   Comment #10
top rate is down to 3.28%

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.