|2.53*%||-||$25k||Mid America Bank & Trust Co||Maximum Free Checking|
|OTHER TIERS: 0.30% → $25k+|
Update 5/27/10: The top checking and savings account rates have fallen. Refer to the rate history at the bottom of the post.
- 4.50% APY on balances up to $25,000
- 1.00% on portion of balance over $25,000
- 0.10% base rate if requirements are not met
- ATM fee refunds nationwide up to $15 per month
The monthly requirements include:
- 10 debit card purchases
- 1 direct deposit or ACH auto debit
- Access internet banking
- Receive e-statements
Additional features of the account regardless of the monthly requirements include:
- $20 minimum initial deposit
- No minimum balance requirement
- No monthly service charge
- Free checks
- Free internet bill pay
The bank also has a very competitive savings account called Eagles Nest Savings. It has a 2.02% APY for balances of at least $10,000. No interest is earned on balances below $10,000, and there's a $10 monthly fee for balances under $1,000.
It appears a branch visit is required to open an account. Branches are located in the Missouri cities of Dixon, St. Robert and Rolla.
The bank's ratings for safety and soundness are a little weak: 2 stars (problematic) at BauerFinancial (based on 9/30/09 data) and 1 star (lowest) at Bankrate.com (based on 6/30/09 data). The bank has been a FDIC member since 1934 (FDIC Certificate # 1624).
Other Reward Checking Accounts
To find reward checking accounts in other areas of the nation, please refer to the reward checking section of DepositAccounts.com. To learn more about reward checking, please refer to this reward checking overview.
05/27/10: checking: 4.50% APY up to $25K / savings: 2.02% APY over $10K
12/09/09: checking: 5.55% APY up to $25K / savings: 2.25% APY over $10K