High-Yield Reward Checking Account at United Bank in Arkansas - Local Only

Update 7/14/10: The top rate has fallen from 5.01% to 3.56% APY.

United Bank is offering a reward checking account called Ultimate Checking with the following rates and features if certain monthly requirements are met:

• 3.56% APY on balances up to $25,000
• 0.51% APY on portion of balance over $25,000
• 0.10% on all balances if requirements are not met
• Refunds ATM fees nationwide

The monthly requirements include:

• 10 debit card purchases (excludes ATM transactions)
• 1 direct deposit or automatic ACH payment
• Access online banking
• Receive e-statements

Additional features of the account regardless of the monthly requirements include:

• $100 minimum initial deposit
• No minimum balance requirement
• No monthly service charge

Refer to the bank's micro-website for the latest rate information and for additional details.

A branch visit is required to open an account. Branches are located in the Arkansas cities of Springdale, Fayetteville and Rogers.

The bank's ratings for safety and soundness are fair: 3 stars (performing) at Bankrate.com and 3 stars (adequate) at BauerFinancial. Both ratings are based on 3/31/09 financial data.

The bank has been FDIC insured since 1980 (FDIC Certificate # 32025).

Other Reward Checking Accounts

Arkansas has a respectable number of high-yield reward checking accounts, including two that are still available nationwide. Refer to the Arkansas section of my High Yield Checking website.

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.

Edit 9/07/09: Added link to bank's micro-website

Rate History:

• 07/14/10: 3.56% APY up to $25K; 0.51% over
• 08/14/09: 5.01% APY up to $25K; 1.01% over; 0.10% base