Lee County Bank & Trust, N.A. is offering a reward checking account that pays 2.75% APY on balances up to $25,000 (0.75% for above) and refunds ATM fees (up to $25 per cycle) if the following monthly requirements are met:
- 10 point-of-sale debit card purchases
- one direct deposit of ACH debit
- access online banking
- accept electronic statements
For those who don't mind doing more than 10 debit card purchases a month, the bank allows you to open multiple accounts. You would have to satisfy the requirements for each account.
It appears that they allow people from
Update 7/18/08: A reader has been told by the bank that this account is now limited to residents of Illinois, Iowa and Missouri.
Branches are located in Fort Madison and West Point, Iowa. The bank has been FDIC insured since 1934 (FDIC Certificate # 5819).
Other High Yield 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.
08/13/09: Yield under $25K; 2.75% APY, Yield above $25K: 0.75% APY, Base Yield: 0.05%
05/12/09: Yield under $25K; 3.01% APY, Yield above $25K: 1.00% APY, Base Yield: 0.05%
01/09/09: Yield under $25K; 3.01% APY, Yield above $25K: 1.00% APY
12/12/08: Yield under $25K: 4.01% APY
10/10/08: Yield under $25K: 5.01% APY, Yield above $25K: 1.50% APY
06/02/08: Yield under $25K: 6.01% APY, Yield above $25K: 2.50% APY, Base Yield: 0.15%