Northpointe Bank's UltimateAccount (5.00% APY) Raises Limit To $10k


Deal Summary: UltimateAccount (rewards checking), 5.00% APY, up to $10k.

Availability: Nationwide

More than two years ago, Michigan based Northpointe Bank added a new Rewards Checking Account, UltimateAccount, which earned 5.00% APY on qualifying balances up to $5k. Northpointe Bank has recently raised the qualifying balance limit to $10k, while maintaining its 5.00% APY. Qualifying balances over $10k earn 0.10% APY, with non-qualifying balances earning 0.05% APY.

5.00*%-$10kNorthpointe BankUltimate Checking
OTHER TIERS: 0.10% $10k+
Accounts mentioned in this post. Rates as of May 28, 2017.

Qualifying Monthly Requirements:

  • At least 15 debit card purchases (the $500 minimum total is no longer required)
  • Direct deposit or automatic withdrawal of $100 or more
  • Enroll in eStatements

The UltimateAccount can be opened with a minimum deposit of $100, and there are no minimum balance requirements or monthly service fees. ATM fees are refunded up to $10 per month, and up to $3 per month for Person-to-person payments (PopMoney) fees, if qualifications are met.

Thanks to DA reader, Josh Dresslove, for his Forum post about the recent changes to the UltimateAccount.

Ultimate Savings

Last September, Northpointe Bank added its UltimateSavings, which earns 1.12%APY on balances of $10k+, with a rate guarantee for “at least 12 months.” The rate guarantee is still in effect.

1.12*%$10k$500kNorthpointe BankUltimateSavings Promo
OTHER TIERS: 0.15% Any amount
Accounts mentioned in this post. Rates as of May 28, 2017.

According to the fine print on the promo page,

If the balance in the account is less than $10,000 or greater than $500,000,
an interest rate of 0.15% APY will apply to the entire balance in the account.

More detail about the UltimateSavings, including ACH and beneficiary information, can be found in my September 2016 blog post.


Headquartered in Grand Rapids, Michigan, Northpointe Bank offers its services and product line to U.S. residents in all 50 states who have a valid Social Security number or TIN.

Opening an UltimateAccount can be done online, or at Northpointe Bank’s single branch located in Grand Rapids.

Bank Overview

Northpointe Bank has an overall health rating of “A" at, with a Texas Ratio of 6.09% (excellent), as of December 31, 2016. In the past year, Northpointe Bank increased its total deposits by $84.8 million, excellent annual growth rate of 26.98% growth rate. Please refer to our financial overview of Northpointe Bank (FDIC Certificate # 34953) for more details.

A relatively young institution, Northpointe Bank was founded in 1999 by Charles Williams, the current President and CEO. In 2013, Northpointe Bank was ranked by Independent Community Bankers of America (ICBA) as the number one best performing financial institution in the country among its peers. ICBA also named Northpointe Bank in 2014 as a "top-performing lender, one out of nearly 450 community banks that have been successful in providing loans to individuals, families and small business."

How the UltimateAccount Compares

When compared to the 44 High Yield Reward Checking Accounts tracked by that are available nationally and have a maximum qualifying balance of at least $10k, Northpointe Bank’s UltimateAccount APY currently ranks first.

Interest RateAccount NameCredit Union/Bank
5.00% APYUltimateAccount ($10k max)Northpointe Bank
4.59% APYFree Rewards Checking-High ($20k max)Consumers Credit Union
4.00% APYExtreme Checking ($15k max)Blue Federal Credit Union

The above rates are accurate as of 5/8/2017.

To look for the best Reward Checking Account rates, both nationwide and in your state, please refer to our High Yield Reward Checking Account rates table or our Rates Map page.

Related Pages: Grand Rapids savings accounts, savings accounts, reward checking accounts, nationwide deals, Internet banks

JimDavis   |     |   Comment #1
The say they do not waive the 15 transactions for the first cycle, so opening this up early in the month and not getting your card till the last week  (too late to do 15 ?), might cost you a months interest.
gregk   |     |   Comment #2
Cards generally take no longer than 10 days to receive after account opening in my experience, - and without the previous $500 minimum completing 15 small value transactions that first short month if necessary shouldn't be too onerous.
JimDavis   |     |   Comment #4
Yeah , if you only have 1 account like that ;-). Think I'll do this for next month, not this one
Amy   |     |   Comment #3
There is a long discussion about the recent changes (and whether there is truly no longer a minimum $ for withdrawals) on blog here: A representative from Northpointe Bank answered many questions.
You'll need to scroll down a bit to go past the older 2015 and 2016 comments.
Anonymous   |     |   Comment #5
When they first offered the 5% return, they did not require a minimum total to be spent, but after a few months, they sent out a letter claiming people were "abusing" the account, then instituted this ridiculous $500 minimum.

If past behavior is any predictor, I would be prepared for the current requirements (no minimum) to last for only a few months before is it reinstated. Might still be worth it if you think of this as a short-term CD @ 5% for 3-6 months (albeit with transactions required), but be prepared to moved your money back out when things change.
calwatch   |     |   Comment #6
I don't see a problem because they really want this to be your daily account, although something more reasonable like 15 transactions with a minimum $5 purchase, on credit, would be acceptable (it could cover lunch purchases). They are a smaller bank and if people buy Amazon credit $1 at a time, that isn't keeping with the spirit of the account.
aaa   |     |   Comment #7
I've heard of the "disclosure" of the account, but not the "spirit" of the account. :-)
qnh1012   |     |   Comment #8
Does anyone know if there is a credit file pull, either soft or hard and which credit bureau? My credit file is frozen so would need to temporarily unfreeze if there is a pull. Thanks.
moneysaver   |     |   Comment #9
According to the terms document on their website, they will accept/count either PIN or signature based purchase transactions toward the required 15 per month.
Also, their terms document says that their debit card has a standard 1% foreign currency conversion fee, and is locked/blocked by default against any foreign transactions, although they also have some language saying you can call and ask for that block to be lifted.
$300 per day limit on ATM withdrawals and $1500 daily limit on POS.
Northpointe Bank's UltimateSavings 1.12% APY Guaranteed For 12 Months
Availability: Nationwide

Michigan-based Northpointe Bank introduced its UltimateSavings account this week. This new account earns 1.12% APY on balances of $10k+, with a rate guarantee for “at least 12 months.”

According to the fine print on the promo page,

If the balance in the account is less than $10,000 or greater than $500,000,
an interest rate of 0.15% APY will apply to the entire balance in the account.

It is also stated in the fine print that there is "no monthly minimum balance requirement." The only fee listed for this...

Continue Reading
Northpointe Bank Offers Competitive 12-Month And 24-Month CD Specials
Availability: Nationwide

Michigan's Northpointe Bank is bidding farewell to Winter with two CD Specials: a 12-month CD (1.15% APY) and a 24-month CD (1.30% APY). The minimum opening deposit is $5K and there are no balance caps.

According to CSR, the Early Withdrawal Penalty is the same for both CDs: 90 days interest on the amount being withdrawn.


In January, I wrote about Northpointe Bank’s new high-yield reward checking account, UltimateAccount. The details of this account are as follows:


  • 5.00% APY on balances up to $5K
  • 0.10% rate on...

Continue Reading
Northpointe Bank’s High-Yield, Low-Cap Reward Checking Account



Northpointe Bank has launched a high-yield reward checking account that it calls the UltimateAccount, and it’s nationally available. If you meet the monthly requirements, you’ll receive an interest rate that’s much higher than rates offered by most all other reward checking accounts. The downside is that the top interest rate only applies to a relatively small balance. For many savers, the low balance cap may be a deal killer. Nevertheless, it’s nice to see a new nationally available reward checking account that offers savers a way to get a...

Continue Reading
Special CDs with Competitive Rates at Northpointe Bank

Update 4/14/2012: The special early withdrawal feature now only applies to the 3-year CD.

Northpointe Bank is offering some unique CDs with competitive rates. They're unique because there's no early withdrawal penalty for the second half of the term. For example there is no early withdrawal penalty after 18 months for a 36 month CD. The bank calls these the Special Compass CDs, and they have the following rates and terms:

  • 1.80% APY 5-year CD
  • 1.60% APY 4-year CD
  • 1.20% APY 3-year CD
  • 1.00% APY 2-year CD

These rates are listed at the bank's CD page...

Continue Reading
Special No-Penalty 3-Year CD at Northpointe Bank - Michigan Only

Northpointe Bank is offering a special 3-year CD which has no early withdrawal penalty after the first 18 months. It also has a competitive yield of 2.10% APY. Minimum deposit is $5,000. This special CD is called the Northpointe Compass CD, and it's shown in a rotating banner on the bank's front page and in a banner at the top of the bank's CD page as of 10/21/2010.

If you make use of the penalty-free withdrawal at month 18, this becomes a very competitive 18-month CD. As a comparison, the best...

Continue Reading

More Past Offers