Checking Accounts at Westbound Bank in Houston


Update 9/24/2014: Simple Checking, Value Checking and Performance Interest Checking have replaced the free checking accounts.

Update 3/29/2011: Various free checking accounts have replaced the reward checking accounts (the Smart Checking) for new accounts.

Westbound Bank has a reward checking account called Super Smart Checking. The account offers the following rates and features if certain monthly requirements are met:

  • 1.00% APY on balances up to $25,000
  • 0.25% on balances over $25,000
  • 0.10% base rate if qualifications are not met
  • ATM fee refunds up to $25 per cycle

The monthly requirements include:

  • 20 debit card purchases
  • one direct deposit
  • receive e-statements

Additional features of the account include:

  • $100 minimum initial deposit
  • $4.99/month service charge if the above requirements for the top rate are not met
  • free Safety Checks
  • free online Bill Pay

The bank also offers a reward checking account with fewer requirements, but with a lower rate. It's called Smart Checking, and it has the following rates and features if these monthly requirements are met:

  • 0.50% APY up to $25,000
  • 0.25% APY over $25,000
  • 0.10% if requirements are not met
  • ATM fees nationwide refunded up to $25 per cycle

Monthly requirements include:

  • 15 debit card purchases
  • one direct deposit

Unlike the Super Smart Checking, the Smart Checking has no monthly fee regardless of meeting the monthly requirements.

Branches are located in the Houston, Texas and its suburbs of Katy and Bellaire.

The bank has been FDIC insured since 1934 (FDIC Certificate # 58417).

Other Reward Checking Accounts

I was surprised to see the monthly fee mentioned in the bank's disclosure. The vast majority of reward checking accounts have no monthly fee even if you don't meet the monthly requirements. Also, most only require 10 debit card purchases per month rather than 20. Perhaps these added requirements will make it easier for the bank to maintain the high yield.

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 7/04/09: Added info on the Smart Checking Account.

Rate History:

  • 02/01/11: 1.00% APY up to $25K; 0.25% over
  • 11/01/10: 2.02% APY up to $25K; 0.50% over
  • 07/25/10: 3.01% APY up to $25K
  • 05/03/10: 2.01% APY up to $25K
  • 01/15/10: 3.01% APY up to $25K; 0.76% over
  • 05/10/09: 4.01% APY up to $25K; 1.01% over; 0.10% base
Related Pages: checking account, reward checking account

Anonymous   |     |   Comment #1
20 DC is just too much/
Anonymous   |     |   Comment #2
Westbound Bank is a Great community bank!

I was previuosly with one of those TOO BIG To FAIL mega banks, you know the ones that took government bailout money, and then doesn't lend it out to the small business, guy, like myself.

I moved to Westbound, they have great Customer Service! They listen to my needs, and they actuall pay reasonable interest rates on their deposits. They also offered my company remote deposit capture and merchant services to my business. This remote deposit machine allows me to make deposits of checks directly to my account without having to leave my office. It is the best thing since slice bread. No longer do i have to have an employee leave and wait in line at the mega bank drive thru anymore for NO CUSTOMER SERVICE.  Now, I can handle it all myself, saving me employee time.

I bank at the Katy location located directly on Highway 99 at Kingsland, but I also visit the branch on FM 529, in Northwest Houston.

Great friendly folks who take the time to listen to my business needs and expansion plans. I am also looking into a small business adminstration SBA loan with them. They have some great low rates.

Thanks Westbound Bank, you make banking easy!

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