- 4.50% APY on balances up to $25,000
- 1.01% APY on the portion of the balance over $25,000
- 0.15% base rate if qualifications are not met
- ATM fee refunds up to $25 per cycle
- 10 signature-based debit card purchases
- 1 direct deposit or automatic payment
- Receive e-Statements
- $50 minimum initial deposit
- No minimum balance requirement
- No monthly service charge
- Free online bill pay
NorStates Bank has been a FDIC member since 1962 (FDIC Certificate # 18626).
Illinois has been hit hard by bank failures. Although you don't have to worry about your insured deposits, it is possible that a new bank that takes over a failed bank may end the reward checking program. So the financial strength of a bank is a consideration for picking a reward checking account.
Unfortunately, NorStates Bank's ratings for safety and soundness are a little weak: 2 stars (problematic) at BauerFinancial (based on 3/31/09 data) and 1 star (lowest) at Bankrate.com (based on 12/31/08 data).
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.