High-Yield Reward Checking Account at Westbury Bank in Wisconsin


Update 8/21/10: The top rate has fallen to 2.75% APY. Refer to the bottom of the post for the rate history.

Westbury Bank has a reward checking account that it calls the IDEAL Checking. It offers 2.75% APY on balances up to $25,000 (0.75% over) and ATM fee refunds (up to $25/month) with the typical 3 reward checking requirements: 1) 10 debit card purchases (credit/signature mode), 2) direct deposit or automatic withdrawal, and 3) receive electronic statements. If the requirements are not met, the rate drops to 0.10%. The account is free of monthly charges whether or not the requirements are met. The minimum opening deposit is $50.

According to the account page, it's only available to Wisconsin residents. Branches are located in several Wisconsin cities north and northwest of Milwaukee. The bank is FDIC insured (FDIC Certificate # 28400).

For other reward checking accounts in other parts of the country, please see my best checking account post.

Rate History:

  • 08/16/10: 2.75% APY up to $25K; 0.75% over
  • ??/??/10: 3.01% APY up to $25K; 1.25% over
  • 06/10/09: 3.75% APY up to $25K; 1.50% over; 0.10% base rate
  • 06/01/09: 3.75% APY up to $25K (according to reader)
  • 05/14/09: 3.75% APY up to $50K (per rate sheet)
  • 03/12/09: 4.01% APY up to $50K; 0.30% over $50K; 0.10% base rate
  • 02/21/09: West Bend Savings Bank and Continental Savings Bank are now Westbury Bank
  • 01/08/09: 4.44% APY
  • 12/10/08: 5.26% APY
  • 06/20/07: 6.01% APY up to $50K; 0.30% over $50K; 0.20% base rate

Edit 6/14/09: Added credit/signature mode to debit card usage requirement.
Edit 2/2/09: Updated URLs due to bank website changes.

Tony Roberts
Tony Roberts (anonymous)   |     |   Comment #1
Coulee Bank ( http://www.couleebank.net ) offers an incredible 6.01% APY with their Rewards Checking account. The rate is easy to earn. All you have to do is make 10 check card transactions a month, use e-statements, and do 1 automatic payment a month (they call it ACH). Coulee Bank pays 6.01% on the first $25,000 and 1.01% on anything above that. The best thing about this account besides the rate is it is FREE, you can apply online, and it is from a great bank with real people that answer the phone. And as they like to say, Banking Green has its Rewards. The Rewards Checking account saves paper and preserves our natural resources. No wonder I feel good about recommending this to everyone I know. Check it out. I guarantee you will love it.
Anonymous   |     |   Comment #2
The APY of the Ideal Rewards Checking is dropping as of 12/10 to 5.26% per Customer Service Representative at West Bend Savings Bank Beaver Dam North.
Anonymous   |     |   Comment #3
APR has dropped as of 12/26/08 from 5.26% to 4.44%

Anonymous   |     |   Comment #4
Top rate is listed as 4.44% APY. Other rates remain same.
Anonymous   |     |   Comment #5
Please update the Ideal Rewards Checking link.
Anonymous   |     |   Comment #6
Top rate now listed as 4.01% APY. Other rates remain same.
Anonymous   |     |   Comment #7
Looks like Westbury is down to 3.75% now....
Anonymous   |     |   Comment #8
Westbury is cutting the cap from 50k to 25k starting in June
Anonymous   |     |   Comment #9
Requirement 1 should read: "credit or signature mode"