2.55% Reward Checking Account at a VT/NH Bank (Passumpsic Savings)

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Update 4/18/09: The top yield has fallen to 2.55% APY. See the bottom of the post for the rate history.

Passumpsic Savings Bank is offering a reward checking account that pays 2.55% APY on balances up to $25,000 (0.40% for above) and refunds ATM fees (up to $5 per transaction) if the following monthly requirements are met:
  • 10 debit card purchases
  • one direct deposit or ACH debit
  • access online banking
  • receive electronic statements
If these requirements are not met, the rate falls to 0.10%. The minimum initial deposit is $25. There are no minimum balance requirements and no monthly service charges.

It appears a branch visit is required to open the account. Branches are located in Vermont and New Hampshire. The bank has been FDIC insured since 1934 (FDIC Certificate # 14134).

Other High Yield 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.

Rate History:
04/16/09: 2.55% APY up to $25K; 0.40% over $25K; 0.10% if req's not met
01/25/09: 3.25% APY up to $25K; 0.65% over $25K; 0.15% if req's not met
11/08/08: 4.05% APY
06/01/08: 4.55% APY up to $25K; 1.05% over $25K; 0.25% if req's not met
Comments
Anonymous
Anonymous   |     |   Comment #1
I think you made a typo... In the headline you refer to Passumpsic as a VT/NM bank. It should be a VT/NH bank.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #2
Thanks. Good catch. It's now corrected.
Anonymous
Anonymous   |     |   Comment #3
Rate table dated 1/20/09 has lower rates:
3.25% APY up to $25K
0.65% over $25K
0.15% if requirements not met