Update on ViewPoint's Reward Checking Account - New Accounts Now Limited to Texas


One bank has just fallen off my list of the five best nationwide reward checking accounts. ViewPoint now states on its Absolute Checking webpage that:

You must live in the State of Texas in order to be eligible for this account.

If you could get through the difficult application process and if you could avoid the gotchas, ViewPoint's Absolute Checking was the best nationwide reward checking with a 4.00% APY on balances up to $50,000. Most reward checking accounts have lower rates, and the top rates only apply to balances up to $25,000.

For those who already have this account, I guess this could be considered good news. If they were taking in too many deposits, they could have decided to reduce demand by lowering the rate and/or balance cap. Over the last year we have seen many banks reduce the availability of their reward checking accounts. So if you are thinking about opening a hot nationwide reward checking account, you may not want to wait too long.

Thanks to reader 51hh who mentioned this news on ViewPoint Bank in the discussion forum.

Other High-Interest Reward Checking Accounts

Please refer to the reward checking section of DepositAccounts.com to find reward checking accounts in your state or that are available nationwide.

Related Pages: LegacyTexas Bank (TX), checking account

  |     |   Comment #1
Next time we hear about ViewPoint's Absolute Checking, it will be that the rate has come down and the upper limit will go down to $25K.
  |     |   Comment #2
All of the rewards Checking accounts are in danger of collapsing do to the new banking regulation laws. It may take few months for the bank to realize that.

  |     |   Comment #3
i don't think is bank regulation's fault, but people abusing the system, like using ACH and 15 x $1 Mcdoubles purchases.
  |     |   Comment #4
why doesn't Farmers and Merchants Bank in Va. show up on the rewards page? IT still pays 3.25% (down from 3.51%) last week, but the kicker---- up to 50K gets the high interest!! I live in upstae NY and had this acct for 2 years, The banking and statemwnt page is a littl primative tho but they have a high maximun.
  |     |   Comment #5
I am out of state and was approved on 7/21 and sent in the paper work and $100 deposit.  I hope they do not renege on me
  |     |   Comment #6
I have an established checking account at Erie General Electric FCU; it's a reward account with a rate of 5.12%. Yes, you do have to qualify to become a member of this credit union. By simply living in one of the two counties and providing proof of residency, it was very easy to set up the accounts (share account and checking).

I am aware that it's quite possible the rate will go down, but the fact that this credit union is strong to begin with is another reason why I joined.
Reward Checking Gotchas - ViewPoint Bank

A reader emailed me his experience at ViewPoint Bank in which ViewPoint failed to pay him the reward interest rate for June. He was very careful in meeting the June requirements and was shocked to find that his large balance had earned only 0.04% interest in June (the non-qualifying rate). After a lot of back and forth with ViewPoint reps, he finally learned why he didn't qualify for the 4% yield. He had to meet the requirements for May to qualify for the 4% on his June balance. In May...

Continue Reading
Details of Applying For ViewPoint Bank's Reward Checking Account

A reader has been emailing me his experiences opening the reward checking accounts at Danversbank and ViewPoint Bank. As of 6/18/2010, these two have the best rates for a reward checking account that's available nationwide (4% APY). Both are sizable banks that are financially healthy. At first look, ViewPoint Bank's Absolute Checking may look the most appealing with a 4% APY on balances up to $50K. One obvious downside is the 15 debit card purchases a month (most only require 10). However, there's another downside that's not obvious until you...

Continue Reading
Reward Checking Account at a Texas Bank (ViewPoint)

Update 9/01/11: The rate has fallen.

ViewPoint Bank is offering a reward checking account called Absolute Checking that pays 3.00% APY on balances up to $25,000 (0.03% over) if the following monthly requirements are met:

  • 15 check card purchases
  • one direct deposit or one online bill-pay
  • receive electronic statements

If these are not met, the rate falls to 0.04%. The minimum initial deposit is $100. There are no monthly service charges and no minimum balance requirements. Once nice perk is free checks. On the downside, there doesn't seem to be any ATM fee refunds. The...

Continue Reading
5.25% 60-Month CD at ViewPoint Bank - Nationally Available
ViewPoint Bank is offering a CD special with a very competitive 60-month CD. The yield is 5.25% APY (rate of 5.15%), and the minimum deposit is $1,000. The Jumbo 60-month CD has a yield of 5.35% APY (rate of 5.25%) for a minimum of $100,000. Interest is compounded and paid quarterly. The other CD special which is not quite as competitive is a 4.25% APY CD with terms of 12 to 17 months (4.35% APY for the Jumbo). These are also available as IRA CD's.

I just contacted the Bank's CSR...

Continue Reading
iPod nano Checking Account Bonus at ViewPoint Bank (Nationally Available)
ViewPoint Bank is offering an iPod nano when you open a new Beyond Free Checking Account. The promotion requires 2 direct deposits of at least $600 to be made before 12/31/07. The minimum opening deposit is $100.

From my online chat with the bank rep, I was told that this offer is available to US citizens in any state. You can open the checking account via this online application. After you submit this application, they'll send you an email within 24 to 48 hours with further instructions on how to open...

Continue Reading

More Past Offers

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.