2.30% Reward Checking account at Falcon International Bank in Texas


Update 10/04/09: The top rate has fallen to 2.30% APY.

Falcon International Bank is offering a reward checking account that pays 2.30% APY on all balances and refunds ATM fees up to $20 per cycle if the following monthly requirements are met:
  • 15 debit card purchases
  • one direct deposit or ACH debit
  • access online banking
If these are not met, the rate falls to 0.10%. The minimum initial deposit is $100. There are no monthly service fees and no minimum balance requirements.

It appears a branch visit is required to open an account. Branches are located in the Texas cities of Del Rio, Eagle Pass, Laredo, McAllen and Brownsville, San Antonio and Buda. The bank also has branches in Monterrey and Guadalajara, Mexico. The bank has been FDIC insured since 1986 (FDIC Certificate # 26856).

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:
09/27/09: 2.30% APY per commenter (can't find rates on website now)
05/14/09: 2.75% APY
03/17/09: 3.00% APY; Requires 15 debit card purchases per month
09/28/08: 4.01% APY; Requires 10 debit card purchases per month
Anonymous   |     |   Comment #1
3.17.09 falcon has dropped
the rate to 3.0% and requires
15 debit card transactions
Anonymous   |     |   Comment #2
falcon has dropped the rate to 2.75%
Anonymous   |     |   Comment #3
It's called Bonus Checking now, CSR stated 3%, but I would not trust it.