3.51% Reward Checking Account at a Kansas Bank (Verus)

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Update 3/04/09: The top rate has fallen to 3.51% APY.

Verus Bank is offering a reward checking account that pays 3.51% APY on balances up to $25,000 (0.50% for above) and refunds ATM fees if the following monthly requirements are met:
  • 12 debit card purchases
  • 1 direct deposit or ACH debit
  • receive electronic statements
If these are not met, the rate falls to 0.10%. The minimum initial deposit is $100. There are no monthly service charges and no minimum balance requirements.

It appears that a branch visit is required to open a new account. Branches are located in the Kansas cities of Derby, El Dorado and Augusta. The bank has been FDIC insured since 1974 (FDIC Certificate # 21463).

I wonder how many people confuse Verus with Virus. If they ever start an internet bank, I would recommend a different name.

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.

Rate History:
02/23/09: 3.51% APY up to $25K; 0.50% over $25K; 0.10% if requirements not met
09/01/08: 5.00% APY up to $25K; 1.00% over $25K; 0.25% if requirements not met
Comments
Anonymous
Anonymous   |     |   Comment #1
As of 2/23/09 the lower rates are: 3.51% APY up to $25K and 0.50% over.