Update 11/22/09: The top rate has fallen to 4.05% APY. Refer to the bottom of the post for the rate history.
Community National Bank is offering a reward checking account with the following rates and features if certain monthly requirements are met:
- 4.05% APY on balances up to $25,000
- 1.01% APY on balances over $25,000
- 0.25% base rate if qualifications are not met
- Refunds all ATM fees nationwide
The monthly requirements include:
- 10 check card purchases
- One direct deposit or one automatic payment
- Receive e-statements
Additional features of the account regardless of the monthly requirements include:
- $100 minimum initial deposit
- No minimum balance requirement
- No monthly service charge
- Multiple accounts can be opened, but requirements must be met for each account
There's an online application, but the application states that they require an in-person branch visit to complete the new account process. Branches are located in the Kansas cities of Seneca, Tonganoxie, Basehor and Sabetha.
The bank has been FDIC insured since 1984 (FDIC Certificate # 25665).
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.
11/06/09: 4.05% APY up to $25K;
05/17/09: 5.01% APY up to $25K; 1.01% over; 0.25% base