4.25% Reward Checking Account at MidCarolina Bank in NC - Discontinued

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Update 12/7/2010: It has been reported that MidCarolina Bank has discontinued their reward checking account.

MidCarolina Bank is offering a high-yield reward checking account called MidCarolina Reward Checking. The account has the following rates and features as of 3/03/2010 if certain monthly requirements are met:

  • 4.25% APY on balances up to $25,000
  • 1.01% APY on portion of balance over $25,000
  • 0.05% base rate if requirements are not met
  • Nationwide ATM fee refunds

Monthly requirements include:

  • 10 check card purchases
  • 1 direct deposit or automatic withdrawal
  • Receive e-statements

Additional features of the account include:

  • $500 minimum opening balance
  • No monthly fees
  • No minimum balance requirements

There's an online application at the bank's micro-website, but the first page of the application implies that you have to come in to a branch location to complete the application process.

Branches are located in the North Carolina cities of Burlington, Greensboro, Graham and Mebane.

The bank's ratings for safety and soundness are strong: 4 stars (excellent) at BauerFinancial and 4 stars (sound) at Bankrate.com. Both ratings are based on 9/30/09 financial data. The bank has been a FDIC member since 1997 (FDIC Certificate # 34454).

Other Reward Checking Accounts

It's nice to find a reward checking account these days with a yield over 4.00%. It's not getting easy. You can't get much above 4% for nationwide reward checking accounts.

To find nationwide reward checking accounts and reward checking accounts in your local area, please refer to the reward checking section of DepositAccounts.com.

Comments
Anonymous
Anonymous   |     |   Comment #1
Just wanted to let everyone know that this bank does a Hard Inquiry to Equifax on new accounts.
Anonymous
Anonymous   |     |   Comment #2
This bank no longer offers new applicants its reward checking account effective October 1, 2010.