4.01% Reward Checking Account at Gulf Coast Bank & Trust Company in Louisiana


Update 12/17/09: The top rate has fallen to 4.01% APY.

Gulf Coast Bank & Trust Co. is offering a reward checking account that it calls Interest Checking that pays 4.01% APY on balances up to $25,000 (1.01% for above) and refunds ATM fees without limits if the following monthly requirements are met:
  • 12 check card purchases
  • one direct deposit, ACH, or online bill payment
  • receive electronic statements
If these are not met, the rate falls to 0.10%. There are no minimum balance requirements or monthly service charges.

The bank has an online application; however, on the first page of the application it states that an applicant must be a resident of Louisiana. Branches are located in the Louisiana cities of Metairie, Kenner, Terrytown, New Orleans, Chalmette, Covington, Slidell, Mandeville and Baton Rouge. The bank has been FDIC insured since 1990 (FDIC Certificate # 32974).

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.

Edit 1/23/09: Added info on the bank's online application.

Rate History:
12/15/09: 4.01% APY
03/13/09: 4.51% APY
10/15/08: 5.51% APY
Anonymous   |     |   Comment #1
Effective 4/14/09 ATM refunds cap at $4.99 per transaction.
Anonymous   |     |   Comment #2
The Interest Checking Account has been lowered today to 4.51%APY.
rjm (anonymous)   |     |   Comment #3
I just confirmed that one cannot be from out of state.
Anonymous   |     |   Comment #4
Effective 12/16/09, the Interest Checking Account has been lowered to 4.01%APY.
Anonymous   |     |   Comment #5
Scam , rip-off, cheat, trick, con – pick one...:(  

They will find any excuse to not pay your interest earned.  And they got creative in this.  Had to move to other bank.
Brian (anonymous)   |     |   Comment #6
Effective 9/1/2010 rate is lowered to 2.99% and maximum balance of $20,000
Anonymous   |     |   Comment #7
This is truly a scam. The interest rate gets lower every few months . And when they count the number of charge and debit transactions for the month, the month is never a true month, And I just love how the rules get changed in the middle of the game. Don't fall for it. You will always be the loser. .