High-Yield Reward Checking Account at Texas First Bank - Local Only


2.01*%-$10kTexas First BankRewards Checking
0.75*%-$10kTexas First BankReal Saver
Accounts mentioned in this post. Rates as of October 22, 2016.

It's nice to see a new reward checking account being offered from a bank. There seems to be fewer new ones these days. Also, many new ones have one unfortunate feature, and this applies to Texas First Bank. The balance cap is only $10K instead of the old average of $25K. So this account may not be useful for many of this blog's savers, but for those with smaller savings who live near one of the many Texas First Bank branches, it may be a good option.

Details of Texas First Bank's rewards checking account are described at the bank's micro-website tfbrewards.com. The account has the following rates and features if certain monthly requirements are met (as of 9/29/2010):

  • 3.25% APY on balances up to $10,000
  • 1.01% APY on portion of the balance over $10,000
  • 0.05% base rate if requirements are not met
  • Nationwide ATM fee refunds up to $45 per month

The bank also offers a companion savings account called Real Saver. It has the following rates if the reward checking requirements are met:

  • 1.25% APY on balances of up $10,000
  • 1.01% APY on portion of the balance over $10,000
  • 0.05% base rate if requirements are not met

Monthly requirements include:

  • 10 debit card purchases
  • 1 direct deposit or ACH auto debit
  • Receive e-statements

There are no monthly fees or minimum balance requirements.

I'm surprised they don't have a higher cap on the Real Saver account. If they're going to have a savings account like this with a rate of only 24 basis points above the second tier rate of the checking account, why not have a larger balance cap.

The microsite has an online application with no apparent geographic restriction. It is limited to U.S. citizens and U.S. resident aliens who currently live in the U.S.

Branches are located in several Texas cities east and southeast of Houston.

The bank's overall health score is 4 out of 5 with a Texas Ratio of 6.23% (excellent) based on 6/30/2010 data. Please refer to our financial overview of Texas First Bank for more details. The bank has been a FDIC member since 1982 (FDIC Certificate # 23799).

Other High-Yield Reward Checking Accounts

To find reward checking accounts in your state or to find those available nationwide, please refer to the reward checking section of DepositAccounts.com.