Rocky Mountain Bank has a reward checking account that pays 4.01% APY on balances up to $20,000 (1.01% for above) and refunds ATM fees (up to $20 per cycle) if the following monthly requirements are met: 1) 15 signature-based Visa Debit Card purchases, 2) one direct deposit, and 3) receive electronic statements. If these are not met, the rate falls to 0.25%. The minimum opening deposit is $25. There are no minimum balance requirements or monthly fees.
It appears that a branch visit is required to open accounts. Branches are located in the Montana cities of Billings, Plains, Bigfork, Plentywood, Bozeman, Stevensville, Kalispell and Whitehall. The bank has been FDIC insured since 1970 (Certificate 20310).
For other high yield reward checking accounts and to learn more about these accounts, please refer to my High Yield Checking website.
03/31/09: 4.01% APY up to $20K; 1.01% over
12/06/08: 5.01% APY, 15/mo debit card purchases required.
04/10/08: 6.01% APY up to $20K; 1.51% over; 12/mo debit card purchases required,
Edit 3/07/09: Automatic payment no longer listed as an alternative to direct deposit.