Reward Checking & Savings Accounts at Focus Bank for MO, AR, KY, TN & IL


Yesterday I reviewed the top online CD rates at Focus Bank. The bank also offers a reward checking and savings account. The reward checking is called MAXimum Free Checking. I first reviewed this account in 2007 when the top rate was 6.01% APY. The rate has fallen, but it remains competitive with a 3.01% APY for up to $25K as of 6/14/2011. Balances over $25K earn 0.51% APY. The monthly requirements include 10 debit card purchases, online access and e-statements. I have more details in my Focus Bank reward checking review.

If you have more than $25K, their savings account can help you earn a little more interest. It's called MAXsavers Savings Account, and it pays 1.01% APY on balances up to $50K. The MAXimum Free Checking monthly requirements must be met to qualify for this interest rate. Otherwise, the rate falls to 0.10%.


At the top of the MAXimum Free Checking page, it states "Online accounts are limited to residents in Missouri, Arkansas, Kentucky, Tennessee and parts of Illinois." If you meet this requirement, you can apply online using the "Open Now" link on the MAXimum Free Checking page.

Focus Bank branches are located in Arkansas and Missouri.

Focus Bank Overview

The bank has an overall health score at of 3 stars (out of 5) with a Texas Ratio of 19.67% (average) based on March 2011 data. Please refer to our financial overview of Focus Bank for more details. The bank has been a FDIC member since 1934 (FDIC Certificate # 1426).

How This Reward Checking Compares

The 3 percent yield for balances up to $25K is higher than what you can now get from nationally available reward checking accounts. The best rate for a $25K balance cap is now only 2.51% APY as of 6/14/2011 (see post).

To review more accounts, you can use our reward checking account table. Use the "Filter Accounts" button on top of the table to select either nationwide accounts and/or your state. Also, you can use this button to select the investment amount. This allows you to compare accounts with different rate tiers.

Related Pages: Focus Bank, Paducah, Jonesboro, checking account, savings account

  |     |   Comment #1
This message is on their online application: "Important Notice: If you have placed a fraud watch or alert on your SSN, or that of a joint applicant, with any of the 3 major credit bureaus, please be aware that your application may be declined until the alert has been removed and identity verification can be confirmed through this online application process."


It seems they do a hard pull of credit repor.... any one can confirm?

Top Online CD Rates at Focus Bank for MO, AR, KY, TN & IL

Focus Bank is offering four competitive CD rates: 2.07% APY 37 months, 1.61% APY 19 months, 1.26% APY 14 months and 1.10% APY 7 months. Minimum deposit is $1,000. These are listed at the bank's CD page as of 6/13/2011.

On the bank's CD page, there's a FAQs tab which provides many details of the CD. I wish more banks provided this many details on their websites. Some notable features include:

  • Early withdrawal penalties: CDs 12 months and under = 1 month's interest penalty, CDs 13 – 35 months = 3...

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High-Interest Reward Checking Account at a MO/AR Bank (Focus)

Update 01/11/2011: The top rate has fallen to 3.01% APY.

Focus Bank is offering a reward checking account called Maximum Free Checking. It pays 3.01% APY for balances up to $25,000 (0.51% over) and automatically refunds ATM fees (up to $25 per cycle) if the following monthly requirements are met: 1) 10 debit card transactions, 2) access online banking, and 3) receive electronic statements. If these requirements are not met, the rate falls to 0.10%. The minimum opening deposit is $100. There are no minimum balance requirements or monthly service charges...

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