3.55% Reward Checking Account at an Arkansas Bank (First National Bank of Wynne)


Update 11/25/09: The top yield has fallen to 3.55% APY. Refer to the bottom of the post for the rate history.

First National Bank of Wynne has a reward checking account that pays 3.55% APY on balances up to $25,000 (0.75% for above) and refunds ATM fees (up to $30 per cycle) if the following monthly requirements are met: 1) 10 check card transactions, 2) one direct deposit or ACH auto debit, and 3) receive electronic statements. The minimum initial deposit is $100. There are no monthly service fees.

A few nice features of this reward checking account mentioned in the FAQ that are not typical include: 1) allow sole proprietorship business accounts, 2) international ATM fees are also reimbursed, and 3) multiple accounts are allowed (requirements for each account must still be met).

It appears the bank requires you to come into a branch to open the account. They do have an online application, but at the top of the application, it states:
One of our representatives will contact you within one business day to set up a convenient time for you to come in to a branch location to complete the application process.

Branches are located in the Arkansas cities of Wynne, Cherry Valley, Forest City and Harrisburg. The bank has been FDIC insured since 1934 (FDIC Certificate 3897)

For other high yield reward checking accounts and to learn more about these accounts, please refer to my High Yield Checking website.

Rate History:
10/14/09: 3.55% APY for up to $25K; 0.75% APY for above; 0.25% base
04/16/09: 4.33% APY
01/08/09: 5.01% APY for up to $25K; 1.01% APY for above; 0.50% if req's are not met
04/20/08: 6.01% APY for up to $25K; 1.01% APY for above
Related Pages: checking account, reward checking account