Montgomery Bank Offers Rewards Checking In 14 States


Deal Summary: Montgomery eBlue Checking, 2.01% APY on qualifying balances up to $15k. Montgomery eGold Checking, 3.01% APY on qualifying balances up to $15k

Availability: AL, AR, IL, IN, IA, KS, KY, MO, MS, NE, OH, OK, SD, and TN

I first wrote about Missouri-based Montgomery Bank’s rewards checking account, Montgomery eBlue Checking, more than twelve years ago. While the current 2.01% APY on qualifying balances up to $15k has been in effect since 2012, the Montgomery eBlue Checking had APYs of 4.01% and 5.01% on qualifying balances up to $25k in 2008 and 2009. Today, the eBlue Checking has a 2.01% APY on qualifying balances up to $15k. Qualifying balances above $15k earn 0.07% APY, with non-qualifying balances earning 0.01% APY.

2.01*%-$15kMontgomery BankMontgomery eBlue Checking Account
OTHER TIERS: 0.07% $15k+
Rates as of April 13, 2024.

The monthly qualification cycle requirements include,

  • At least 12 POS debit card purchases
  • At least one ACH payment or direct deposit
  • Enroll in eBanking
  • Have a valid email address and receive eStatements

The $3 monthly fee will be waived with enrollment in eBanking and eStatements that happens within 30 days of account opening. A Montgomery eBlue Checking account can be opened with a $50 minimum deposit. Unlimited check writing is available and a free debit card is issued following account opening. Non-Montgomery Bank ATM fees will be reimbursed up to $6 per month, if qualifications are met. (Montgomery Bank participates in the MoneyPass ATM network.) There is a limit of one Montgomery eBlue Checking account per Social Security number.

Montgomery eGold Checking

The Montgomery eGold Checking account was added to the product line almost two years ago. Other than the 3.01% APY on qualifying balances up to $15k, there’s only one difference between the eBlue Checking and eGold Checking: the eGold Checking requires one or more qualified mortgage, home equity or commercial loan with Montgomery Bank. All the other requirements are the same.

3.01*%-$15kMontgomery BankMontgomery eGold Checking
OTHER TIERS: 0.07% $15k+
Rates as of April 13, 2024.


Headquartered in Sikeston, Missouri, Montgomery Bank has a brick-and-mortar presence in four Missouri counties and the city of St. Louis, but offers the Montgomery eBlue and eGold Checking accounts to U.S. citizens/resident aliens (with a valid Social Security number) who live in Alabama, Arkansas, Illinoi, Indiana, Iowa, Kansas, Kentucky, Missouri, Mississippi, Nebraska, Ohio, Oklahoma, South Dakota, or Tennessee.

Opening a Montgomery eBlue or eGold Checking account can be done online, or at any of the nine full-service Missouri branches located in Bridgeton, Cape Girardeau (2), Chesterfield, Des Peres, Jackson, St. Louis, Sikeston, and Webster Groves. All branch lobbies are open to walk-in traffic during normal business hours, with the exception of the Mt. Auburn (Cape Girardeau) branch which will be closed May 18-25 for remodeling. Appointments can be made by contacting a branch directly.

Bank Overview

Montgomery Bank has an overall health grade of "A" at, with a Texas Ratio of 1.97% (excellent) based on December 31, 2020 data. In the past year, Montgomery Bank has increased its total non-brokered deposits by $291.7 million, an excellent annual growth rate of 40.92%. Please refer to our financial overview of Montgomery Bank (FDIC Certificate # 8255) for more details.

Founded in 1934 as The First National Bank of Sikeston, there were three rebrands between 1991 and 2004 before the bank became known as Montgomery Bank in 2018. The name was chosen to honor the bank’s founder, Joel Montgomery, Sr. As the 25th largest bank headquartered in Missouri, Montgomery Bank has assets in excess of $1.1 billion and more than 33,000 customer accounts.

How Montgomery eGold and eBlue Checking Compare

Given the multi-state availability, a comparison to nationally available accounts is appropriate. When compared to the High Yield Reward Checking Accounts tracked by, which are available nationwide and have maximum qualifying balances of at least $15k, Montgomery Bank’s Montgomery eGold and eBlue Checking APYs currently rank second and sixth, respectively.

The above information and rates are accurate as of 5/13/2021.

To look for the best Reward Checking Account rates, both nationwide and state specific, please refer to our High Yield Reward Checking Account Rates Table page.

Related Pages: St. Louis checking accounts, Paducah checking accounts, reward checking accounts

4.01% Reward Checking Account in MO/FL at Montgomery Bank
Montgomery Bank is offering a reward checking account called Montgomery e-Blue Checking that pays 4.01% APY on balances up to $25,000 (0.74% for above) and refunds ATM fees (up to $25 per cycle) if the following monthly requirements are met: 1) 12 debit card purchases, 2) one direct deposit or ACH auto debit, and 3) receive e-Statements. If these are not met, the rate falls to 0.10%. The minimum opening deposit is $50. There is no monthly maintenance fee and no minimum balance requirement.

The bank's FAQ page is fairly thorough....

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