3.25% Reward Checking Account and 1.85% Online Savings Account at QNB Bank in PA - Local Only


QNB Bank is offering a high-yield reward checking account called Free eRewards Checking. The account has the following rates and features if certain monthly requirements are met:
  • 3.25% APY on balances up to $25,000
  • 1.01% APY on portion of balance over $25,000
  • 0.15% APY base rate if requirements are not met
  • ATM fee refunds nationwide up to $25 per cycle
The monthly requirements include:
  • 12 check card transactions
  • 1 direct deposit or other ACH transaction
  • Receive e-statements
Other features of this account include:
  • $25 minimum initial deposit
  • No monthly service charge
  • No minimum balance requirement
  • Free online Bill Pay service
In addition to the reward checking account, QNB also offers an online savings account that pays 1.85% APY on all balances. Minimum opening deposit is only $5. Like the reward checking account, it has no monthly service fees and no minimum balance requirement.

Both the reward checking account and the online savings accounts can be opened via the bank's online application. However, in the application you have to provide your zip code, and if your zip code is outside their market area, you won't be allowed to apply. I tried one out-of-state zip code, and it was rejected. I then tried a Philadelphia zip code, and it was also rejected.

Branches are located in Quakertown, PA and in nearby towns.

The bank's ratings for safety and soundness are fair to above average: 3 stars (performing) at Bankrate.com and 4 stars (excellent) at BauerFinancial. Both ratings are based on 6/30/09 financial data. QNB is a FDIC member (FDIC bank finder is down as of the morning of 10/12/09).

Thanks to the reader who mentioned this bank in the comments.

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.
Related Pages: QNB Bank, Philadelphia, checking account, reward checking account

  |     |   Comment #1
I, too, tried it with my own zip code in northwestern PA (just south of Erie) with no luck.


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