3.01% Reward Checking Account at a Georgia Bank (First Chatham)

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Update 3/28/09: The top yield has fallen to 3.01% APY. Refer to the bottom of the post for the rate history.

First Chatham Bank has started a reward checking account that pays 3.01% APY on balances up to $50,000 (0.50% for over) and refunds ATM fees if the following monthly requirements are met: 1) 10 check card purchases, 2) one direct deposit or ACH debit, and 3) enroll and receive statements via E-mail. If these are not met, the rate falls to 0.25%. A minimum deposit to open the account is $100. There are no minimum balance requirements or monthly service charges.

The application is available online. The instructions state that "If you fax or mail your application, a customer service representative will contact you upon receipt of your application." So it might be available to out-of-state customers, but I recommend calling before you apply to verify this.

Branches are located in the Savannah area of Georgia. The bank has been a FDIC member since 2002 (FDIC Certificate # 57252).

Other High Yield Reward Checking Accounts

Please see my reward checking overview for general information and a history of these reward checking accounts. For other reward checking accounts please see my list of reward checking accounts around the nation and the best checking account post.

Rate History:
08/20/09: 3.01% APY up to $50K, 0.50% APY over
03/18/09: 3.01% APY up to $50K
01/21/09: 3.51% APY up to $50K
10/15/08: 4.01% APY up to $50K, 1.00% APY over
04/16/08: 5.00% APY up to $50K
01/13/08: 5.50% APY up to $50K, 1.50% APY over
Comments
ProfessorB
ProfessorB (anonymous)   |     |   Comment #1
Umbrella Bank's 90 day savings promo has a 5.12 APY.
Anonymous
Anonymous   |     |   Comment #2
As of 10/15/08, top yield was 4.01% APY up to $50K, 1% APY anything over.
Anonymous
Anonymous   |     |   Comment #3
As of 1/21/09 the top rate is 3.51% APY.
Anonymous
Anonymous   |     |   Comment #4
As of 3/18/09 the top rate is 3.01% APY.
2.50% Savings Account at First Chatham Bank in Southern Georgia - Local Only
First Chatham Bank is offering a savings account called E-Savings with a 2.50% APY as of 6/28/09. Minimum deposit is $100, and there is no monthly maintenance fee. It requires electronic statements. The main downside appears to be that only 3 free debits are allowed per quarter. A $2 charge applies for additional debits.

The bank is also offering a business money market account called http://www.firstchatham.com/business/moneymarket.asp">E-Business Money Market with a 2.75% APY as of 6/28/09.

The bank has long been offering a reward checking account which is currently paying 3.01% APY on...



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