3.01% Reward Checking Account at a Wisconsin Bank (People's State)


Update 10/15/09: The top yield has fallen to 3.01% APY. Refer to the bottom of the post for the rate history.

People's State Bank is offering a rewards checking account that pays 3.01% APY on balances up to $25,000 (0.50% for above) and refunds ATM fees up to $4.99 per transaction if the following monthly requirements are met:
  • 10 debit card purchases
  • one direct deposit or automatic payment
  • receive your statements online

If these are not met, the rate falls to 0.10%. No minimum balance is required.

The application is available online, and there are instructions which state that it can be printed and mailed. I'll have to call to see if they accept out-of-state customers. Branches are located in the Wisconsin cities of Wausau, Weston, Marathon, Rhinelander, Minocqua and Eagle River. The bank has been FDIC insured since 1962 (FDIC Certificate # 18569).

Thanks to the reader who mentioned this account in the finding-the-best-deals post.

For other high yield reward checking accounts and to learn more about these accounts, please refer to my High Yield Checking website.

Rate History:
10/01/09: 3.01% APY for up to $25K
01/01/09: 4.01% APY for up to $25K, 0.50% APY for above, 0.10% if requirements not met
05/04/08: 4.51% APY for up to $25K, 1.00% APY for above, 0.25% if requirements not met
Related Pages: Peoples State Bank (Wausau, WI), Wausau, checking account, reward checking account

Anonymous   |     |   Comment #1
As of Jan 1, 2009, the new rates are: 4.01% APY up to $25K; 0.5% APY over $25K, and 0.1% if do not meet requirements.
Anonymous   |     |   Comment #2
FAQ page does state that bill pay satisfies one of the three requirements.
4.50% 36-Month / 4.05% 25-Month CD at a Michigan Bank (Peoples State)
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It appears a branch visit is required to open the CD. Branches are located in several Michigan cities including Farmington Hills, Fenton, Madison Heights, Sterling Heights, Troy and Warren. The bank has been FDIC insured since...

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