Texas Bank Offers Rate-Leading Reward Checking Account Statewide
I first reviewed Texas Bank and its rewards checking account, Texas Reward Checking, more than 13 years ago. During this time, the account has remained competitive with a top rate that has typically been around a full percentage point above top online savings account rates. That continues to this day. The Texas Reward Checking, currently offers 6.17% APY on qualifying balances up to $25k. Qualifying balances above $25k and all non-qualifying balances earn 0.65% APY.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 5.12*% | $0 | $25k | Texas Bank (TX) | Texas Reward Checking | |
| OTHER TIERS: 0.50% → $25k+ | |||||
The monthly qualification requirements include,
- At least 12 Visa® debit card transactions
- At least one direct deposit or direct debit transaction
- Receive eStatements through Online Banking
- Maintain a valid email address
A Texas Reward Checking account can be opened with a $25 minimum deposit. There is a $5 monthly service charge that can be avoided by maintaining a $10k minimum daily balance. Unlimited check writing is available and a free Visa® debit card will be issued following account opening. Unlimited nationwide ATM fees will be reimbursed up to an aggregate of $15 each month, if qualification requirements are met. There is a limit of one Texas Reward Checking account per customer, and it's not available to business customers. If a Texas Reward Checking account is closed before interest is credited, the accrued interest will be paid out at the non-qualifying rate.
Availability and Account Opening
Headquartered in Henderson (northeast Texas), Texas Bank offers its rewards checking account, Texas Reward Checking, to all Texas residents through an online application.
Opening a Texas Reward Checking account can also be done in-branch at any of eleven full-service Texas branches located in Anna, Frisco, Henderson (3), Longview, Nacogdoches, Prosper, Tatum, Tyler, and Van Alstyne.
Bank Overview
Texas Bank has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.54% (excellent), based on June 30, 2022 data. In the past year, Texas Bank has increased its total non-brokered deposits by $286.19 million, an excellent annual growth rate of 23.92%. Please refer to our financial overview of Texas Bank (FDIC Certificate # 21074) for more details.
Established in 1973, Texas Bank was originally known as Texas Bank of Tatum. The Texas Bank rebrand occurred in 1995, the same time the bank’s headquarters was moved to Henderson. In 50 years of continuous operation, Texas Bank has grown to become the 143rd largest bank headquartered in Texas, with assets in excess of $837 million and nearly 27,000 customer accounts.
How Texas Reward Checking Compares
When compared to the High Yield Reward Checking Accounts tracked by DepositAccounts.com that are available to all Texas residents and have maximum qualifying balances of at least $25k, the Texas Bank Texas Reward Checking APY currently ranks first.
The above information and rates are accurate as of 10/8/2023.
To look for the best Reward Checking Account rates, both nationwide and state specific, please refer to our High Yield Reward Checking Account Rates Table page.
