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Introduction - High Yield Checking Deals


How would you like a checking account that pays higher interest rates than CDs and online savings accounts? These checking accounts do exist, and they're called high yield reward checking. This website is intended to help you find those banks and credit unions offering these accounts. To learn about how these reward checking accounts work, see the section below.

This site is maintained by Ken the Bank Deals Guy who also runs the Bank Deals Blog. For questions, send email to bankdeals at gmail dot com.

Reward Checking Directory By State

High yield reward checking accounts are mostly being offered by small banks and credit unions which restrict account opening to local residents. The main directory is divided by state so you can quickly find an institution close to you.

Directory of Reward Checking Available Nationwide

I also have a directory of banks and credit unions which don't have local restrictions. These allow you to sign up for their accounts online or by mail. For the credit unions, you'll have to first qualify for membership. The credit unions that I include in this directory allow you to qualify for membership via some association in which anyone is allowed to join. These associations typically require a small membership fee. However, once you're a member of a credit union, you're free to end your association membership without that affecting your credit union membership. Thus, you don't have to renew the association membership.

Directory Contents

Each row in the directory of banks includes the name and link of the bank or credit union offering the reward checking. Next to the name, the yield and the balance cap are included. The right most field is a link to a review of this account and institution at the Bank Deals Blog. The "initial review date" indicates the date that the review was first made. The "updated review date" indicates a change to the original review. Often this is a lower rate. If you place your mouse over the link, you can also see the initial date. These dates are intended to give an idea of how long the bank has been offering the account and how long the rate has been maintained. These dates are not intended to provide 100% accurate history.

Overview of High Yield Reward Checking

A new type of checking account is becoming popular with small banks and credit unions. This checking account is what's called a high yield reward checking account. It basically rewards you with a very high yield if you perform certain monthly banking activities. These typically include:

  • around 10 debit card transactions (non ATM). There are typically no dollar requirements per debit card purchase.
  • direct deposit or auto debit. Any ACH transfer often satisfies this.
  • receive electronic statements. They won't mail you a paper statement.

If you don't meet the above requirements, you won't earn the high yield for that month. Instead you'll earn a base rate which is usually under 1%. You can return to earning the high yield if you meet the requirements for the next month.

Unlike many other checking and money market accounts, reward checking accounts usually lack minimum balance requirements and monthly fees.

The other important catch related to these accounts is that banks limit the amount that can earn the top yield. The most common maximum balance is $25,000. Balances up to $25,000 will earn the top yield, and any balances over this will earn a much smaller yield. On the plus side, reward checking accounts are not tiered accounts that require you to reach a certain balance before you can earn the top yield. Any balance (up to the cap) will earn the full top yield if you meet the monthly requirements.

One more reward offered by most of these accounts is refunds of ATM fees charged when you use another bank's ATM. These refunds are typically done automatically at the end of the statement cycle if you meet the requirements. The refunds are typically limited to around $25 a month.

Just Teaser Rates?

Most banks and credit unions don't guarantee future rates of these reward checking accounts. Like any liquid account, the rates are variable. Banks claim that these rates are not intended to be teaser rates, but many people have been skeptical.

The debit card usage requirements and the balance caps are the main factors that are suppose to allow these accounts to be profitable for the banks. Banks receive a percentage of each debit card purchase that you make. Also, there have been statistics which show that higher debit card usage help banks make more money on overdraft fees.

At of the end of March 2008, many banks are still offering 6% APY (within their balance caps) after 6 or more months. Several have reduced their rates to between 4% and 5% as the Fed has been cutting rates in the last 6 months. However, most of these reward checking accounts have maintained their lead over most online savings accounts. For those just concerned with high yield, the extra 1% to 3% in interest can make the extra hassles worthwhile.

Other Articles and Reward Checking Resources If you find other reward checking resources or other banks or credit unions offering these that are not list here, please leave a comment.
Anonymous   |     |   Comment #1
Banking Guy,
Thank you for all your hard work. In the rewards checking post for Massachusetts, Haverhill Bank dropped to 4.5% apy, Southbridge dropped to 4.25% apy and Clinton Dropped to 5.01 apy.
Anonymous   |     |   Comment #2
In Massachusetts, Slade Bank is now Rockland Trust. On the Rockland Trust website, I didn't see any mention of a Rewards Checking Account.
glxpass (anonymous)   |     |   Comment #3
From Credit Union Deals:
Kansas CU:
Golden Plains CU - Golden Rewards Checking
6.01% APY, balance cap $25K
Possibly available to all. Apparently, membership in Friends of Lee Richardson Zoo qualifies one for membership in the credit union. It's unclear if a branch visit is required to open an account.
glxpass (anonymous)   |     |   Comment #4
New Hampshire, Maine, Massachusetts - Butler Bank 4.50% APY up to $50K in big print; still 6.01% APY (effective 4/1/2008) in small print. I believe the big print is probably correct.
Anonymous   |     |   Comment #5
Great work! How about putting an asterisk after the bank name if out-of-state customers are accepted?
Anonymous   |     |   Comment #6
Power Financial CU down to 5.01% as of 04.01.08
tuphat (anonymous)   |     |   Comment #7
First Federal (SC & NC), rate reduced to 4.26% APY as of April 1st. :(
glxpass (anonymous)   |     |   Comment #8
I verified that a membership in Friends of Lee Richardson Zoo indeed qualifies one for membership in Gold Plains Credit Union, and that application for membership and the Reward Checking account can be done on-line.

We thus have another nationally available Reward Checking account. When queried about how long the 6.01% APY will last, the CSR said that it will go down later this year. I hope that means December, but somehow I doubt it. :-)
Banking Guy
Banking Guy (anonymous)   |     |   Comment #9
Thanks everyone for the updates. I've been trying to update the tables each night.

Thanks glxpass for the info on Golden Plains. Nice to see another nationwide reward checking account. I just did a post on bankdeals blog, and I'll update the tables tonight with this info.

One thing about Golden Plains that I could not find was their online membership application. Their application page has a "Golden Plains Online Enrollment" application, but that appears to be for online enrollment and not membership enrollment. Do you have a link to their membership application? Thanks.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #10
Gain some and you lose some. I just received the following comment in the AAFCU posts:

I am an employee at Air Academy Federal Credit Union (AAFCU). I would like to clear up a misconception. Only employees and employees' families of the USAFA Association of Graduates are eligible to join AAFCU at this time. There are many other ways to join AAFCU and we serve members around the globe. Visit www.aafcu.com and click on membership for details.

Looks like AAFCU went through their official charter and found this even though it contradicts what's on their website and what I've been told by CSRs. Looks like we have to be extra careful about association memberships in terms of their FOMs. I'll follow up with the credit union tomorrow.
glxpass (anonymous)   |     |   Comment #11
I took the CSR's word for it, but I can't find an on-line membership application, either. I'll follow-up in the morning with the credit union, and post here after I've done that.
glxpass (anonymous)   |     |   Comment #12
My above post was in reference to Golden Plains Credit Union, although I'm not too surprised at the AAFCU news.

I was told the same thing by a person at the USAFA AOG, that only employees and families of employees were eligible to join AAFCU, and that person said they confirmed it with a contact at AAFCU.

When I spoke with a CSR at AAFCU, they said membeship in AOG was sufficient, and (as I'm sure everyone who became an AAFCU member knows) in the on-line application membership eligibility section to click on Military, and select "I am a member of the USAFA Association of Graduates."

That option still shows, but there is wording on the Military section that states:

"I am or one of my family members is currently active duty or retired military. You may also choose this option if you are a United States Air Force Academy (USAFA) Cadet or a USAFA Graduate."

So there's a conflict between the above wording, and the fact that you can be member of the USAFA AOG, which doesn't require attendance in or even a family connection to the USAFA.

At one time, an alterative was membership in the United States Air Force Althletic Association, but I've no idea if that's still valid.
glxpass (anonymous)   |     |   Comment #13
I've contacted Golden Plains Credit Union, and one can open an account there from out of their area, despite the lack of a membership/savings account application on their web site. Here's how:

1. Fill and and submit the on-line checking application.

2. Send in or fax or e-mail (I'm not sure of the fax number or e-mail address) to following, attention: Kayla:

A. Proof of membership of Friends of Lee Richardson Zoo. A receipt is fine.

B. Copy of driver's license

C. Funding for the savings share account (minimum $10) and the Reward Checking account (minimum $100 to open). The total funding amount can be on one check.

You can also fund the account by wire, but you must first send in the other materials and obtain a member number. The wire instructions (sorry, I don't know the fee) are:

1. Wire using routing number 301178181. This is actually for Kansas Corporate Credit Union in Witchita, KS.

2. On the wiring instructions say "Further credit goes to routing number 301178181, Golden Plains Credit Union.

This account opening process for out of area people might be fairly new to Golden Plains, so I'm sure the above instructions will get refined.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #14
Thanks glxpass for checking on this! I've updated the Great Plains CU post with your details.

And about AAFCU, I called again and received the same info as what you received: membership in AOG is sufficient. And as you mentioned, this is still an option in the online application. So I replied to that comment in the AAFCU post and asked them to email me to confirm.
glxpass (anonymous)   |     |   Comment #15
Regarding Golden Plains CU, I made a mistake for the routing number of Kansas Corporate Credit Union, whose routing number you use, with a note in the wiring instructions to say "further credit to Golden Plains Credit Union, routing number 301178181.

I repeated the Golden Plains routing number instead of giving the routing number for Kansas Corporate CU, 301180111.

Sorry about that!
glxpass (anonymous)   |     |   Comment #16
My proofreading skills are terrible.

Regarding Golden Plains CU, I made a mistake for the routing number of Kansas Corporate Credit Union, whose routing number you use, with a note in the wiring instructions to say "further credit to Golden Plains Credit Union, routing number 301178181", or something like that.

I repeated the Golden Plains routing number instead of giving the routing number for Kansas Corporate CU, 301180111.

Sorry about that!
glxpass (anonymous)   |     |   Comment #17
I said above:

"My proofreading skills are terrible."

As apparently realizing which entry I'm posting to. Sorry about the duplication!

On the other hand, my typing speed is definitely improving.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #18
Thanks for correcting the mistake. I've updated the post. It often takes me 5 or more proofreads before a post is somewhat clean.
Anonymous   |     |   Comment #19
Bank of Little Rock in Arkansas rate is now 5.01
Banking Guy
Banking Guy (anonymous)   |     |   Comment #20
Thanks for the note. I've updated the Bank of Little Rock post, and this will get into the table in the next day.
Anonymous   |     |   Comment #21
Bank of Idaho is now 4.01% down from 6.01%
Anonymous   |     |   Comment #22
New bank to add to your list for Texas:


Their "Free Rewards Checking" account offers 5.01% APY with only 8 uses of the debit card. They also give you the first 50 checks for free.

glxpass (anonymous)   |     |   Comment #23
I was curious why the Bank of Fayetteville isn't included on the Nationally Available list. Your entry for that seems to indicate a branch visit is unnecessary. Does it have some sort of geograhical restriction? Thanks!
Banking Guy
Banking Guy (anonymous)   |     |   Comment #24
Glxpass, you're right. For some reason I forgot to label the post with rcnationwide. This is what my program looks for to determine if it's nationwide. I've made this update, and it should be included in the next table update. Thanks!
glxpass (anonymous)   |     |   Comment #25
Unfortunately in an e-mail sent today to its MAX Checking account customers, AAFCU has announced that it is dropping its MAX Checking rate from 6.01% APY to 4.5% APY, effective June 1.

An excerpt:

Dear Member:

Effective June 1, 2008 the new rate for MAAXIMUM Checking* on balances between one penny and $50,000.00 will be 4.50% APY**. Even though the Federal Reserve has dropped rates seven times from 5.25% to 2.0% (a 3.25% decrease), MAAXIMUM checking continues to be one of our highest paying deposit products offering an attractive rate of return. Thank you for doing business with Air Academy Federal Credit Union. It is our privilege to provide you with products that make a difference.
Anonymous   |     |   Comment #26
IQ Credit Union in Washington now down to 5.25%. This page indicates 5.75% I made a trip for nothing wasting 5 bucks in gas. Thought I would save someone the same trip.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #27
Thanks for the update on IQ Credit Union. I've updated that post, and the new rate will be reflected on this site soon.
Anonymous   |     |   Comment #28
Why don't you have a link on the Bank Deals site thta leads to this site?
Banking Guy
Banking Guy (anonymous)   |     |   Comment #29
I have links in my weekly summaries and in new reward checking posts. But you're right, more links were needed. So I just added a link in the sidebar under the banking resource section and in my finding-deals post under checking/savings resources. Thanks.
preferred stocks
preferred stocks (anonymous)   |     |   Comment #30
Anonymous   |     |   Comment #31
Per your bank list:

you seem to be missing the following 2 banks:
TriStone community bank,NC
.01-25k at 6.05APY

Capital Bank,NC
.01-25k at 5.01 APY

both require the monthly debit
card use, ach and e-statement

cherry hill,nj
Anonymous   |     |   Comment #32
Tristone bank (NC)& capital bank (NC) are nationwide.
The list does not indicate this.
Anonymous   |     |   Comment #33
Regarding the AAFCU-
To join the AAFCU, you simply need to pay $50 to join the
"USAFA Association of Graduates."
I'm sure you know of SOMEONE in your family who is/was a military vet...Thats how I joined!
Banking Guy
Banking Guy (anonymous)   |     |   Comment #34
Thanks for the info on TriStone Bank and Capital Bank (from NC). I noticed the online application at TriStone Bank has the following:
Accepting applications in the following states: North Carolina, South Carolina, Georgia, Florida, Virginia, Tennessee.
I've updated my TriStone post to include these states. Do you know if they may actually include all states?

For Capital Bank, it does appear that they've made this available nationwide. It's a nice change from my first post when they said a branch visit would be required. I've made the label change on this post, and it should soon show up in the nationwide list.

About AAFCU, I'm afraid membership in USAFA Association of Graduates is no longer a qualification. Only employees are qualified. I have more details in that post.

Links to these posts are on the right column of the tables.
Anonymous   |     |   Comment #35
New bank to add to your list for Texas:


Their "Free Rewards Checking" account offers 5.01% APY with only 8 uses of the debit card. They also give you the first 50 checks for free.

Anonymous   |     |   Comment #36
I noticed on Scott Credit Union web site that their rate has dropped to 5.05 APY
Anonymous   |     |   Comment #37
Dedham Savings (in Mass) has reduced its rate from 6.02% to 5.01% as 22 May 2008, FYI.
Anonymous   |     |   Comment #38
I just wanted to let you know that Citizens Bank Minnesota no longer accepts out of state funds. They told me that this was because many out of state members were "abusing" the accounts. Perhaps this means that their debit card purchases weren't pricey enough to give the bank adequate compensation. Great site here. Thank you.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #39
Thanks for the comment about Citizens Bank Minnesota. I did this post about this issue last week after another reader noted this change. Note, I've removed this bank from the nationwide list.
Anonymous   |     |   Comment #40
I have an account with Verity Credit Union - it has raised its rate to 6.75 for the month of JUNE to celebrate its 75th anniversary. As of July 1 the rate will drop to 5.05%
Tony Roberts
Tony Roberts (anonymous)   |     |   Comment #41
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 #42
Verity CU will be down to 5.05% from July 2008. For the month of June 2008, they are offering 6.75%.
Anonymous   |     |   Comment #43
I've noticed that there are some drawbacks to reward checking accounts. First, the daily ATM cash withdrawal limits are usually lower than standard checking or savings accounts. (Most are from $200-300-500; while standard accounts are from $300-1000.) Second, some of these banks consider a Friday afternoon ATM as a withdrawal and disallows your use of ATM for Saturday, Sunday, and Monday. Third, e-statements do not show any of your check images or posted checks when you view it for printin;. You have to click each check individually and print them separately. Plus, they're only available online for upto 30-60-120 days; after that period, you would be charged a fee to get check copy. This should be included in the general info.
Aaron (anonymous)   |     |   Comment #44
TwinStar is down to 4.0%
Anonymous   |     |   Comment #45
Eastwood bank is down to 5.01%. MN/WI


Banking Guy
Banking Guy (anonymous)   |     |   Comment #46
Thanks. I've updated the Eastwood Bank post. The table will be updated in the next day or two.
Craig (anonymous)   |     |   Comment #47
Reward checking resource: http://www.money-rates.com/rewardschecking.htm
Anonymous   |     |   Comment #48
Institue for Savings ... dropped from 6.01% to 4% APR ... seems to be a trend. Please update.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #49
Thanks. Sorry to see such a big rate drop. I've updated my Institute for Savings post. The table will be updated soon with this change.
Anonymous   |     |   Comment #50
I market these programs to community banks and the banks are also saving money by not processing as many checks, sending E-statements rather than paper statements, and the use of other technology services. Community Banks are great places to bank, they know your name, treat you fairly, and appreciate your business. To the mega banks, you are just a number on a spreadsheet.

Reward Checking is for real, it is a fantastic product that has been around for 8 years and it is here to stay!
Anonymous   |     |   Comment #51
Hawaii USA FCU has just started a $25K at 4.25%, with 10 credit card transactions, estatements and 1 ACH deposit as a requirement. The other big feature is that it is they are the only bank/credit union on Hawaii that offers shared banking with mainland credit unions. This is a big deal when wiring funds. Wires to/from the mainland must be completed before 10am HST/4pm EST. Same day wiring of funds in Hawaii is impossible and expensive.
cjdtech (anonymous)   |     |   Comment #52
First Iowa State Bank has 5.01% reward checking. This may be available nationwide.

Anonymous   |     |   Comment #53
Verity Credit Union (in Washington) dropped their rate from 6.01% to 5.05%, effective 7/1/08; FYI.
Anonymous   |     |   Comment #54
West Des Moines State Bank in Iowa is now offering reward checking. 5.00% up to $50,000; $25 in ATM fee refunds; requires 12 transactions per month.

Anonymous   |     |   Comment #55
Beacon Federal Credit Union (http://www.beaconfed.org) in Texas has reward checking at 5.5% APY up to $40,000.
• Complete twelve (12) check card
• Setup one (1) ACH direct deposit or auto debit
• Enroll and receive electronic statements
They are changing the website this month (July), so links might change on site
Anonymous   |     |   Comment #56
Beacon Federal Credit Union (http://www.beaconfed.org) in Texas has reward checking at 5.5% APY up to $40,000.
• Complete twelve (12) check card
• Setup one (1) ACH direct deposit or auto debit
• Enroll and receive electronic statements
They are changing the website this month (July), so links might change on site
Anonymous   |     |   Comment #57
sorry to report that Legacy Bank in Oklahoma will be lowering rates on the win-win rewards checking AGAIN on 8/1, to 4%.
I must also comment that when I opened my account with them, I asked if they planned on lowering, and they said "no, not at all"....
Anonymous   |     |   Comment #59
The main page lists Liberty Bank as an Oklahoma bank. It appears they are only in Missouri.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #60
Please refer to my Liberty Bank post. They have an online application which makes it look like it's available in MO, OK, AR and KS. If you find out that they are more restrictive, please let us know.
Anonymous   |     |   Comment #61
Riverside in OR just dropped to 4.5%.
cjdtech (anonymous)   |     |   Comment #62
It looks like Connexus Credit Union has two different reward checking accounts, one called MyRewards (3.51%) and another called Xtraordinary (5.15%). MyRewards is 10 debit card transactions, while Xtraordinary is 15. The Xtraordinary account is listed on CheckingFinder.
cjdtech (anonymous)   |     |   Comment #63
Touchmark National Bank (Norcross, GA) has a 4.01% reward checking account. Requirements: 10 debit card purchases, 1 Automatic Payment or Direct Deposit transfer, Receive your monthly account statement electronically, Sign in to your online banking account at least once. Found this on CheckingFinder. A good choice for anyone in the Atlanta area.
cjdtech (anonymous)   |     |   Comment #64
LGE Community Credit Union (Marietta, GA) has a 3.5% reward checking account. In addition to the standard requirements and at least 15 check card transactions, other notable requirements include making at least one web bill pay.
Anonymous   |     |   Comment #65
Michigan Heritage Bank headquartered in Farmington Hills, MI with several branches (Metro-Detroit suburbs) has a 5.5% checking account up to $25,000 called iEarn Checking http://mhbchecking.com/iearn_faq.asp

Thank you
Anonymous   |     |   Comment #66
Dedham savings reduced their rate from 5.01% to 4.54% as of 8/22/08.
Anonymous   |     |   Comment #67
The Community Bank in Mass dropped their rate from 6.01% to 5.01% as of 9/2/08.

Please update rate changes for this bank and for Dedham Savings as posted above. Thanks.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #68
Thanks for the news about Community Bank rate drop. The post has been updated, and this will be reflected in the table in the next week.

I've updated the rates for Dedham Savings Bank in both the post and in the table. If you don't see the change, make sure you refresh your browser cache.

To refer to the post describing the reward checking account, click the link in the right hand side of the table. This describes when the post has been updated with new account related information.
Anonymous   |     |   Comment #69
Clinton Savings (Mass) from 4.51% to 4.01%... FYI.
Anonymous   |     |   Comment #70
Thanks Banking Guy.

Another update: Mass - Monadnock Community Bank changes rate from 5.12% to 4.5% as of 9/6/08.

The general trend for reward checking is down... it is simply not worthwhile for banks to offer these high rates (5% or above), considering the people who bypass fair-size debit transactions and the few who failed to meet requirements. Thus reward checking rate hopping is a loser's game, IMO. Just stick with a bank until rate is comparable to non-reward online checking rate (e.g., 3.5% for HSBC) and hop bank to it.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #71
Thanks. I've updated the rate in the post. I plan to update the table tomorrow (9/7/08).

At least most of these reward checking accounts don't have minimum balance requirements. It'll be easy to transfer funds to the online savings accounts if the rate becomes uncompetitive.
Anonymous   |     |   Comment #72
I have about $200,000 I'd like to put into reward checking accounts. But what will opening 8 of these do to my credit rating?
Anonymous   |     |   Comment #73
Tristone Community Bank lowered the Money Max Checking rate to 5.01% from 6.05% APY. Effective 9/16/08.
Anonymous   |     |   Comment #74
According to the Allegiance Bank website, the Rewards checking account rate has dropped from 5% to 4%. I e-mailed the bank and they confirmed this effective at the end of Sept.
Anonymous   |     |   Comment #75
Hi Banking Guy,
Midwest America Federal Credit Union has lowered their rate to 6.31%. Thanks.
Anonymous   |     |   Comment #76

Memphis Area Teachers Credit Union has lowered their rate to 4.33% two weeks ago. You need to update your list.
Anonymous   |     |   Comment #77
Rollstone B&T from 4.51% to 4.01%; general trend for Reward Checking is downward...
Anonymous   |     |   Comment #78
you need to update your data. a lot of things are outdated. For example Golden Plains Credit union acct is no more nationwide. Rates on some of the Institutions have fallen. But still your site is very useful.

Banking Guy
Banking Guy (anonymous)   |     |   Comment #79
About Golden Plains CU, do they require members to come into a branch now to open the reward checking account? They still seem to allow members of the Lee Richardson Zoo to qualify for credit union membership. Or has that changed?

If you find any out-of-date rates or eligibility requirements, please leave a comment. The best place are the comments of the account reviews (links on the right side of the table). Each link includes a date of the last update. I try to update the account review the same day I receive a comment. The table gets updated once or twice a week.
Anonymous   |     |   Comment #80
With the Patriot Act, some banks REQUIRE you to come physically into the bank. This defeats the purpose of comparison shopping because FL banks in Tampa stink. Crossroads in ILL requires a one time physically see you in person this as did Three Rivers credit union. Why is it anyone can join/open an e-bank account on-line without being in person (like Emigrant Direct (low rates 3.0LOL) and Smartypig.com (3.9) but have to fly/drive whatever to open a brick and mortar bank? This Patriot Act thing just hurts the little guy U.S. citizen and still lets illegals flood our borders.
Anonymous   |     |   Comment #81
A blogger said that e-statements do NOT have pictures of checks. This is NOT true because my USAA Fed Savings Bank has e-statement WITH copies of all my checks. I love this feature.

It depends on what service company the bank uses on whether they offer checks to be seen or not. USAA uses a company that SHOWS the checks on estatements but Security Service Federal Credit Union has a company exactly like what the blogger said the checks are not on estatements, you have to individually click and print the checks while they are seen in the 1st 30 days or pay for a copy after that. I am ditching SSFCU because their bill pay service provider changed today. I already did NOT like their no copy of checks checking statement and now their bill pay really stinks.

The same goes for what bill pay service company the bank uses determines whether 10 pending and last 10 payments made is shown on front page.
Anonymous   |     |   Comment #82
I just upgraded to Quicken home and business 2007 (which you can find on internet cheaper)
I would probably buy 2008 as it's a newer version but do your homework.

I have rewards checking at Legacy, State Nat'l Bank of Texas, Charter, and MidwestAmerica FCU--
I was able to download all of these accounts into Quicken.

I was also able to click on the image of checks and deposits (if bank had them) and attach them to the transaction in Quicken.

this means when I open up Quicken on my computer I can click on any check transaction and see the personal Check that I wrote and some banks show the back side of it also. I did have a few challenges with Legacy because MidwestAmerica probably did a electronic check on my check to them to transfer money and it showed as no check.

I make copies of important checks and deposits before putting them in the mail and can scan them into Quicken.

Obviously, my statments come in all different forms etc from all of these banks and I haven't found a challenge with any of them. I do like it when the statements will include images of your checks and deposits. just my preference as we change from paper to electronic.

You can also scan in your receipts to a transaction in quicken so it's pretty cool. I'm still not sure on the printing of these receipts out if you needed to tho. That was one challenge we had with Quicken 2007 and I'm sure that they've worked on it otherwise a copy and paste to word would work.

I am watching the interest rates on these accounts and still have all of my money making 6.01 or 6.31. These accounts are out there.

I sure appreciate the updates on these accounts and rates.

I will be looking for 2 more accounts next week as I have money ready to come out of that awesome deal with WT/Direct where it came out to 9.31%.

Thanks to these websites and the Bank Guy and the rest of you that make all this information public.

Legacy Bank in Ok did go down to 3.50% or close to that in October. I moved my money when they went down to 4%.

The money is fairly easy to move and if the rates come back these accounts can sit there with $1.00 in them to keep them open.
Anonymous   |     |   Comment #83

Anonymous   |     |   Comment #84

MidWest America Federal Credit Union does not offer nationwide accounts.

Banking Guy
Banking Guy (anonymous)   |     |   Comment #85
Has something changed regarding MidWest America FCU? Please see my account review with info from the credit union reps and the comments from readers. In the table, the links to the account reviews are on the right.
Anonymous   |     |   Comment #86
RE: MidWest America FCU

Your posting of 10/01/08 is correct that “Membership is open to anyone who lives, works, worships or attends school in the Allen County Investment Area of Fort Wayne, Indiana, or in the Illinois counties of Vermilion or Coles, or in the underserved areas of the Kentucky counties of Allen, Barren or Monroe.”. However, your posting of 7/15/08 that “It appears anyone can qualify for credit union membership by becoming a member of the Allen County Society for the Prevention of Cruelty to Animals (SPCA)” is not correct anymore.

The individual must live within 100 miles of the branch and be a member of SPCA to be a member of this credit union.

Therefore, this account can not be designated as “available nationwide”.

Banking Guy
Banking Guy (anonymous)   |     |   Comment #87
Thanks for providing the details. It looks like they added the 100-mile restriction recently. I've updated my review, and on my next updates of these tables, the credit union will be removed from the nationwide table.
Anonymous   |     |   Comment #88
Addison Avenue FCU (Mass): from 5.25% 60 4.5%... following general downward trend.
Anonymous   |     |   Comment #89
5.25% --> (to) 4.5% for Addison FCU above.
Anonymous   |     |   Comment #90
According to the Allegiance Bank PA website, the Rewards checking account rate has dropped from 4% to 3.75%. Second month in a row to fall.
cjdtech (anonymous)   |     |   Comment #91
Just like MWAFCU, GPCU also added a geography restriction to their reward checking account.
Anonymous   |     |   Comment #92
Is American River Health Pro Credit Union Insurance something I should worry about? It's not FDIC. Sacramento, CA. 4%
Anonymous   |     |   Comment #93
A new source to check out Rewards Checking accounts is www.checkingfinder.com. You can find all of the banks who offer the accounts and those that you can open online with. Great resource!
Anonymous   |     |   Comment #94
Marborough Cooperative Bank (Mass): 5.25% (up to 25,000) --> 4.0% (up to $40,000), a big drop with the same downward trend.
Anonymous   |     |   Comment #95
Correction for above post: Marborough Co-Operative Bank: 5.51% (up to 25,000) --> 4.00% (up to 40,000) as of 11/19/08.
Anonymous   |     |   Comment #96
Another reference
Anonymous   |     |   Comment #97
Minnesota has a new Rewards checking Bank.
Olmsted National Bank
5.01% up to 25,000
with the standard requirements.
That makes two rewards checking accounts in the city of Rochester, MN. They must be competing with Eastwood bank.

D in MN
Banking Guy
Banking Guy (anonymous)   |     |   Comment #98
Thanks! Nice to see another one of these in MN. I'll post on this soon.
Anonymous   |     |   Comment #99
Eastwood Bank in MN has dropped their Rewards checking interest Rate to 4.01%. I'm not sure when they did this.

D in MN
Banking Guy
Banking Guy (anonymous)   |     |   Comment #100
Thanks. Sorry to see the big rate cut. I've updated the post. At least Olmsted National Bank will give those in Rochester, MN an opportunity to keep at 5%. I have a new post on that here. It'll be on the table soon.
Anonymous   |     |   Comment #101
I just got word that Coulee bank has lowered their rewards checking rate to 5.01% (down from 6.01%)
Anonymous   |     |   Comment #102
Coulee Bank has indeed lowered the rate for their reward checking to an APY of 5.01% (4.90% APR) as of 12-1-2008.
Anonymous   |     |   Comment #103
Harbor Credit Union in Wisconsin offers reward checking at 5.01% APY on their web site. This differs from your last update.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #104
Thanks. I've updated the Harbor CU post. I'll be updating the table soon. These rate cuts are keeping me busy :-(
Anonymous   |     |   Comment #105
Many of these reward checking accounts need constant monitoring... they are trending downward... E.G., Orange Savings (TX): now at 4.01% (up to $35,000) from 6.01%.
Anonymous   |     |   Comment #106
... Texas Citizen Bank... 5.01% from 5.26%.
Anonymous   |     |   Comment #107
Add Central Bank in Houston with their eChecking account.


3.5% APY up to $50,000;
1.5% over $50,000;
Requirements are posted; rates and cap are not:
10 Visa debit transactions;
3 ACH type includes bill pay; direct deposit;
6 locations scattered;
Fluent English/Spanish/Vietnamese.
Online application, but requires a personal branch visit for signature.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #108
Thanks. I'll post on this soon.
Anonymous   |     |   Comment #109
Am thinking of opening 2 accounts:

1. Community Bank of Pleasant Hill, MO
2. The Provident Bank, NJ

In the current economic crises should I worried with these 2 banks? Anyone who has an account with these?

Anonymous   |     |   Comment #110
Above post: Why would you worry if you keep your money under the FDIC limit ($250K) per bank?
Anonymous   |     |   Comment #111
Indeed, many of rates on the list are outdated.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #112
If you see out-of-date rates, please leave a comment in the account review (links on the right side of the table). With almost 300 accounts and with the falling interest rate environment, your help in updating these are much appreciated.
Anonymous   |     |   Comment #113
Thanks for explaining. I will leave comments in the account review in future.
James Hampton
James Hampton (anonymous)   |     |   Comment #114
I recently (November) opened an account with CB of Pleasant Hill. It has a safe and sound rating of 3 stars (out of 5) by Bankrate. It took time (about 10 days) to fully set up and fund. Up and until yesterday, it was paying 6.10%. Now it is listing only 5.01%.

As of today, the only nationwide accounts paying 6% is Southern Missouri Bank (rating 4 stars). Charter Bank will reduce their rate to 5.01% starting in February.

The top 4 banks listings for Washington state are the same as of today.
Anonymous   |     |   Comment #115
M/A COM FCU (Mass) from 6.00% to 3.00%; big drop! I think that most banks that offer reward checking account found out that the benefit is not that great and are dropping rate like crazy.
Anonymous   |     |   Comment #116
Bank Newport (RI, listed under Mass) from 5.05% to 4.65% as of 5 January, 2009.
Anonymous   |     |   Comment #117
Monadnock Community Bank (in Mass) from 4.50% to 4.00%.
Anonymous   |     |   Comment #118
Advantis in OR now BACK UP to 4.2%!!!
koz22 (anonymous)   |     |   Comment #119
Coulee Bank is at 5.01%. Available nationwide. www.CouleeBank.net
Anonymous   |     |   Comment #120
Crescent State Bank, NC is at 5.01%. www.crescentstatebank.com
Anonymous   |     |   Comment #121
Alaska reward checking (low APY)- rate table 12/17/08:
Denali State Bank
Xtreme Checking
1.26% APY up to $25K
0.50% over $25K
10 debit/mo mandatory else $25 service charge
checks are $2.50 ea
ATM refunds via pdf fill-in form (mail,fax) by 10th of month.
Note: 12 mo CD has same APY
Anonymous   |     |   Comment #122
South Dakota reward checking - rate table dated 10/10/08
Reliabank Dakota
Ultimate Checking
4.07% APY up to $25K
1.01% over $25K
0.25% requirements not met
12 check card purchase
1 direct dep or 1 ACH or 1 bill pay
located in 5 South Dakota communities
Anonymous   |     |   Comment #123
Maine reward checking -
Machias Savings Bank
Ultimate Green Checking
1.5% APY up to $10K
10 debits; $100 to open
Anonymous   |     |   Comment #124
West Virgina & Virginia reward checking -- dated 7/31/08
Pentleton Community Bank -
"Reward Checking"
4.51% APY up to $25K;
1.01% over $25K; 0.11% otherwise
10 check card transactions
1 dir dep or ACH; $50 to open
3 loc's in W VA & 1 in VA
[click on MORE INFO, far left panel]
Anonymous   |     |   Comment #125
The Bank of Georgia in Peachtree City, GA offers Rewards Checking, paying 5.25% with 10 debit transactions, 1 direct dep or ACH and estatements, max $25,000 locations in PTC, Fayetteville, Newnan, Fairburn. Best customer service and great for small businesses. I've completed the requirements for 2 months and it is EASY! Enjoy your great rate! www.bankofgeorgia.com
Anonymous   |     |   Comment #126
more Kentucky reward checking...

Franklin Bank & Trust
"Bonus Checking" $100 to open
5.0% up to $25K; 1% over; 0.25%
12 debit; 1 dir dep or ACH
Bank of Oldham County
"TBOC Checking"
1.76k% up to $10K; 0.25%
1 dir dep; 10 debit POS
River City Bank in Louisville metro area:
"Maximum Checking"
3.5% APY up to $20K; NOW acct yield over
10 debit; 1 direct deposit
Anonymous   |     |   Comment #127
more Kentucky credit union RC options:

Jefferson County FCU
"Rewards Plus"
rates are dated 12/1/2007
4.25% up to $50K; 0.50% over
1 dir dep; 1 ACH debit; 1 bill pay
"transactions to the account in aggregate amount greater than $250"
Class Act FCU
"Honors Checking" rate table 1/1/09
4.0% up to $25K; 1.01% over; 0.25%
Park Community FCU
"HI Checking" = High Interest
rates dated 2/4/08
4.01% up to $25K; 1.01% over; 0.25%
10 debit; 1 dir dep
(real "iffy" many same features as RC)
Kentucky Telco FCU
"Prestige Checking"
2.52% up to $10K; 0.50% over; thru 1/31/09
'DirectAdvantage netpay of $800/mo or more' ???
Anonymous   |     |   Comment #128
an Oregon bank w/ rewards checking

Columbia River Bank
"Ultimate Checking"
rates as of 10/3/08
4.01% up to $25K; 0.87% over; 0.11%
10 debits; 1 dir dep or 1 ACH debit
Anonymous   |     |   Comment #129
FYI- bank of blue valley, located in Kansas City, KS advises that their high yield checking account can only be opened up in person at their branches in Kansas City. I think this would disqualify them from remaining on the nationwide bank list.
Anonymous   |     |   Comment #130
Vermont rewards checking -
Mascoma Savings Bank
"Free Rewards Checking"
3.55% APY up to $50K; 1.01% over; .1%
12 debit; 1 dir dep or ACH auto debit
rate table is dated 1/21/09
(upfront RC presentation is out of date)
Anonymous   |     |   Comment #131
more New Hampshire rewards checking -

First Colebrook Bank
"Moose Rewards Checking"
flyer says 10/14/08, rate table 12/17
5.15% APY up to $30K; 1.01% over;0.25%
10 debit, 1 dir dep or ACH auto debit
$10 to open; $50 ATM nationwide
Meridith Village Savings Bank
[very unique 6-mo promotional rate..]
"Mobile Advantage Checking Promotion"
4.01% APY up to $25K for 6 month if...
14 debits met, then...
1.01% APY after 6 month; 0.05% req not met
Members First Credit Union
"Rewards Checking"
4.01% APY up to $25K; 1.01% over;0.10%
12 debit, 1 dir dep or ACH auto debot
Anonymous   |     |   Comment #132
more Washington State reward checking-

Coastal Community Bank
"Green Rewards Checking" dtd 2/11/08
4.01% APY up to $25K;1.01% over;0.05%
10 debit; 1 dir dep or ACH auto debit
$100 to open; $25/mo ATM fees
Timberland Bank
"Smart Money Checking" dtd 3/6/08
4.01% APY up to $25K;1.01% over;0.25%
10 POS debit; estatement & email addr
(NO dir dep or ACH auto debit)
all ATM fees nationwide refunded
24 branches in 6 western WA counties
Anonymous   |     |   Comment #133
It would appear that Midwest America FCU has lowered the rate from 6.31 to 5.11 as of 1/30/09.
Anonymous   |     |   Comment #134
more California reward checking-

Premier Valley Bank 3.01% APY $25K

Bank of the Sierra 4.51% APY $25K
"Sierra Reward Checking"

CoastHills FCU 3.04% APY ($250K??)
"SuperReady Checking"

Pacific Resource CU 4.25% APY $25K
"High Flying Checking"

Los Angeles Police FCU 3.56% APY $25K
"Performance Checking"

Families and Schools Together CU
4.08% APY $25K "Fast Rewards Checking"

Foothill FCU 4.10% APY $25K
"My Choice Checking"

Point Loma CU 3.56% APY $25K
"Ultra Rewards"

Credit Union of Southern California
2.49% APY
"E-Z Earn Checking"
Anonymous   |     |   Comment #135
Maximum ATM withdrawals for most reward checking accounts are limited to $500; some are less!
Anonymous   |     |   Comment #136
Coulee Bank

5.01% APY
Up to $20 cash back ATM fees
Available nationwide
Anonymous   |     |   Comment #137
Dedham Savings (Mass) from 4.54% to 4.02% as of 2/19/09.
Kevin (anonymous)   |     |   Comment #138
The way I see the BancVue system allows you to support a local business, gain better benefits and make more money doing it. On top of that you don't deal with hidden fees and corporate customer support. High interest rate checking accounts with BancVue are a win-win even if some of the rates have dropped.
Anonymous   |     |   Comment #139
Please update the rates for the Vintage Bank in Texas. The APY they offer on their Reward checking has been lowered to 3.25%
Anonymous   |     |   Comment #140
Communication Credit Union in Oklahoma has just dropped their APY from 5.25 to 4.25.
Anonymous   |     |   Comment #141
On March 1, First New England Federal Credit Union dropped rate to 4.15% (from 5.15%) and max balance to $20,000 (from $25,000).
Jason (anonymous)   |     |   Comment #142
Check out the latest top bank rates from CheckingFinder.com.
Bank Rates:

First Robinson Savings Bank - Robinson, IL 6.01
Southern Missouri Bank & Trust 6.01
Bank of Ripley - Ripley, TN 5.26
Communication Federal Credit Union - OK 5.25
LA DOTD Federal Credit Union - Denham Spring, LA 5.25
Keystone Bank - Auburn, AL 5.15
Connexus Credit Union - Wausau, WI 5.15
Altra Federal Credit Union 5.05
Farmers and Merchants - Nashville, IL 5.05
Community State Bank - Poteau, OK 5.05
First State Bank - Kansas City, KS 5.03
State Employees Credit Union - Santa Fe, NM 5.02
Grand Bank of Texas - Grand Prairie, TX 5.02
Harbor Credit Union - Green Bay, WI 5.01
Malvern Federal Savings Bank - Paoli, PA 5.01
Union State Bank - Everest, KS 5.01
United National Bank - Cairo, GA 5.01
First Banking Center - Lake Geneva, WI 5.01
Noble Bank & Trust - Anniston, AL 5.01
The Community Bank - Brockton, MA 5.01
Bank of Little Rock - Little Rock, AR 5.01
Community Bank of Pleasant Hill - Pleasant Hill, MO 5.01
Community Bank of Raymore - Raymore, MO 5.01
Olmsted National Bank - Rochester, MN 5.01
Royal Banks of Missouri - St. Louis, MO 4.78
Texas Citizens Bank - Pasadena, TX 4.76

Courtesy of BancVue
Anonymous   |     |   Comment #143
Southland Credit Union has dropped to 3.0%
Anonymous   |     |   Comment #144
BankNewport (RI/Mass) dropped rate from 4.65% to 4.14% as of 3/3/09 ($50K limit). Guys, the rate has no place to go but downward to the 3-4% norm.
Anonymous   |     |   Comment #145
Credit Union to add to your list for California

Families and Schools Together Federal Credit Union: www.fastcu.com
"" (anonymous)   |     |   Comment #146
cornerstone bank in North Dakota dropped to
3.6% 0-50000 and
1.5% 50000+
Anonymous   |     |   Comment #147
Here's another one that isn't on the list:

Phelps County Bank in Missouri
4.01% checking up to 25K, 1.01% above

10 debit txns
electronic statements
log in to online banking


Appears a branch visit is required. Branches are in Rolla and St James in central Missouri.
Anonymous   |     |   Comment #148
US Federal Credit Union in Minnesota has lowered its amplified checking rates to 3.8%.

Anonymous   |     |   Comment #149
NewportFed (R.I.) reduced their rate from 4.5% to 4.15% lately.
Anomymous (anonymous)   |     |   Comment #150
FYI Allegiance Bank in Pennsylvania recently lowered the rewards checking rate to 3.00%.
Anonymous   |     |   Comment #151
Midwest federal credit union
You list the rate as 5.11% for $25,000
New rate per their website is now 3.51
It dropped...
Anonymous   |     |   Comment #152
Bank of Ripley lowered it's rate from 5.26 to 4.26 as of April 1, 2009.
Anonymous   |     |   Comment #153
It seems Community Bank of Pleasant Hill has dropped to 3.01% APY.
Anonymous   |     |   Comment #154
Charter TurboChecking down from 5.01% to 4.01% APY** on balances to $25,000 beginning May 1, 2009
Anonymous   |     |   Comment #155
yes. Community Bank of Pleasant Hill has dropped to from 5% to 3.01% APY, in one nasty shot.

My $ is leaving there just as fast.
Anonymous   |     |   Comment #156
West Bank Iowa to drop rate fom 5% to 4% as of 4/15/09.
Anonymous   |     |   Comment #157
Hyperion bank in Phila,Pa is paying 5% up to 50K, 10 debit transactions.account must be opened up in person so this bank should be listed under the state category.
Anonymous   |     |   Comment #158
These bank lists are very helpful - BUT ..for internet banking one of the MOST useful features ANY account can have is ACH - bank-to-bank transfer capability. It really would be nice if your list included some indication if a bank is offering this rather than having to visit each site.
Anonymous   |     |   Comment #159
West Bank of IA is no longer on the current list but their website still has the same rewards checking deal:

Anonymous   |     |   Comment #160
evantage bank (listed first on nationwide list) is not offering that interest rate. It is dropping on 4/16 (new cycle period)per their CS rep.
Anonymous   |     |   Comment #161
I'm Leaving Community Bank also after a 2% point without no warning. Quicken downloads are also a pain in the butt with this bank..
I just opened a Malvern Federal Savings.
Anonymous   |     |   Comment #162
I meant Community Bank of Pleasant Hill.
Anonymous   |     |   Comment #163
Why was west bank iowa removed?
Anonymous   |     |   Comment #164
Heartland Community Bank dropped to 4.02%
Anonymous   |     |   Comment #165
Midwest America credit union dropped to 3.51%
Anonymous   |     |   Comment #166
www.myvalleybank.com has offered 5.01% since January 2008. Can apply online.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #167
@ Anonymous April 13: West Bank of Iowa was removed from the nationwide list since it no longer accepts out-of-state applications. I still have it under Iowa in the full list.

@ Anonymous April 17: Thanks for the Valley Bank info. I posted on this in June 2008 and it's in my full list under Virginia. The online application appears to limit applicants to Virginia.
Anonymous   |     |   Comment #168
Most, if not all, banks do not refunds ATM machines outside the US. And, most of them do not state the fees of how much they charge for both ATM use and debit card (as credit) at outside-US places. Can you please give us some guidance of the fees if we use the debit card for purchase ouside-US? Do these Reward Banks pay the Visa transaction fee, or do they charge us the fee?
Banking Guy
Banking Guy (anonymous)   |     |   Comment #169
There are a few reward checking accounts offering refunds of ATM fees outside the US. One that's available nationwide is First Arkansas Bank and Trust (see post).
Anonymous   |     |   Comment #170
Dedham Savings (Mass) sent out letters to change their $50K limit to $25K as of 18 June, also limiting to one account per customer.
Anonymous   |     |   Comment #171
Evantage Bank & Bank of the Wichitas sent out emails today saying they are dropping the rate to 4% for the first 10,000, effective May 5th.

AmericaNet Bank, which actually runs both Evantage & Bank of the Wichitas' online divisions (or they are all owned by same parties), will also be dropping to 4% as well I am sure.

So those three, from 5.25 to 4% effectively.
Anonymous   |     |   Comment #172
Contacted and confirmed with customer service.

All 3 of the Oklahoma 5.25% banks, Bank of the Wichitas (Redneck Bank), Evantage Bank, and AmericaNet Bank, have reduced to 4% APY.

Great Blog/Site btw.
I've found myself following these things too now.
Anonymous   |     |   Comment #173
oh man i wish i qualified for United. the rate is guaranteed until 2010. pondering moving...
Anonymous   |     |   Comment #174
addison now down to 3.5%
Anonymous   |     |   Comment #175
ProvidentSmarkChecking NJ down to 4.01%. They now have 3 other e-account products: Green, myTunes checking, and PowerSavings at providentnjdirect dot com. All require participating in Provident connect online banking and estatements.
Anonymous   |     |   Comment #176
UMass Five College FCU changed its rate from 4.59% to 4.09%.
Anonymous   |     |   Comment #177
Bank2 now says on their website:

"Changes as of 5/6/09...This account will be limited to 2 accounts per household. Also limited to Oklahoma residents and Bank2 loan customers."

When I spoke to them today, they also said that the rate may be going down soon, but for existing accounts will be guaranteed at 5% until Jan 1, 2010.
Anonymous   |     |   Comment #178
hyperion bank-rate to remain at 5%, max balance to drop from 50k to 30k. Effective july 2009
Anonymous   |     |   Comment #179
Provident Credit Union Super Rewards Checking went down from 3.26% APY to 3.01% APY as of May 1st. But it still only needs 10 debit card charges (and they can be signature or PIN).
Anonymous   |     |   Comment #180
Arizona Bank & Trust is closing the Cash Rewards accounts of all customers outside of "their community" which probably means the metro Phoenix AZ area.

Accounts will be closed on July 1st. The debit card will be closed on June 25th so that all charges will post prior to closure.

Questions to kgabel@arizbank.com or 480-844-4505
Anonymous   |     |   Comment #181
Farmers and Merchants Bank will change its rate for Platinum Reward Checking from 4.51% to 4.01%.
Anonymous   |     |   Comment #182
First Colebrook Bank in NH went from 5.15% to 4.15% on 5/13/09.
Anonymous   |     |   Comment #183
I am curious how these banks are able to provide this much massive interest rates!! Any clue?
Ken (anonymous)   |     |   Comment #184
Take a look at this post that discusses the math behind the high yields. The debit card usage requirements have a lot to do with it.
Anonymous   |     |   Comment #185
Community National Bank in TN has a rewarding checking for 4.5% for up to $25k.
Anonymous   |     |   Comment #186
BankNewport (RI/Mass): 4% to 3.55%
Anonymous   |     |   Comment #187
Ken: Weel the $900/month debit usage is way off for smart savers. Most would use credit cards for cash rewards, thus would use the reward checking debit cards for very samll amounts 9say $12/month. So it is a losing game for banks.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #188
Yes, if banks get too many smart savers compared to average checking account customers, they'll have trouble paying the high rates. Fortunately, the average checking account customer appears to spend a lot more with his/her debit card than $12/month. Also, they tend to maintain smaller balances. The only data I have on this is what my local credit union provided (in the Math behind reward checking post). It'll be interesting if we can get data from more banks and credit unions on this. I will look into this.
Anonymous   |     |   Comment #189
I am not sure about the overall customer statistics. However, it may be fair to say that many nominal bank customers are not aware of the reward checking product. Even for those who are, most are reluctant to go through the trouble of debit card transaction/direct deposit just to get 1-2 percentage of interest. What's left are those smart ones who do rate chasing. I doubt that banks will make any money from that crowd. In short, many banks will not be able to keep up the high yield and will have to change their rules to lower limit, or lower interest, local customers only, or all above; for the long term.
Ken (anonymous)   |     |   Comment #190
Malvern FSB rate drop 5.01% to 3.50% - I rcvd my checks today so I guess I'll stick w/ it for now...the frustrations of being a rate chaser continue.
Anonymous   |     |   Comment #191
malvern has terrible customer service. voicemail at 10am?? I'm closing my account with them asap!!
Anonymous   |     |   Comment #192
FYI- Union state bank is listed as being a available on a national basis. Nope, it is not as of 6/10/09 per their website.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #193
Thanks. Sorry to see another bank change its nationwide policy. I've updated the Union State Bank post and removed its nationwide label. When I update the tables this weekend, it'll fall off the nationwide list.
Anonymous   |     |   Comment #194
First State Bank of Kansas City
5% up to 25k
Q: Isn't this bank account available on a nationwide basis?
Anonymous   |     |   Comment #195
BCSB in Baltimore, MD offering 4% reward checking with $25,000 balance cap.
Anonymous   |     |   Comment #196
Dedham Savings changed their rate from 4.02$% to 3.51% today, in addtion to the $25K limit (from $50K). I already moved out from this bank since they annouced the limit change last month.
Anonymous   |     |   Comment #197
First State Bank of Kansas City
no longer accepting applications for their high yield account if you are out of state.
Anonymous   |     |   Comment #198
Members First Credit Union in Manchester, NH
4.01% up to 25k
Anonymous   |     |   Comment #199
Thanks for all your work.

My contribution:
University of Maine Credit Union offers a high yield checking account. Membership is limited to students, faculty, employees, and alumni of the University of Maine system.

The account is 4.01% up to 25k for 12 debits, 1 direct deposit or ACH, estatements, and accessing online banking.
Anonymous   |     |   Comment #200
Foothill Federal Credit Union located in Arcadia, Califonira implemented a rewards checking product called the MyChoice Checking Account back in October of 2007. The account requires 10 debit card transactions per month, at least 1 electronic deposit or withdrawal per month and estatements with a valid email address. Curretnly, teh account pays 3.25% for qualifying members. We would like to be added to the list.
Anonymous   |     |   Comment #201
coulee bank just dropped their rate from 5 to 4%.
Their new nationwide ranking reflects this change.
Rick (anonymous)   |     |   Comment #202
It doesn't look like the Bank of Idaho has any branches in Utah, yet it is listed there. I checked on their site.

Thanks for the great work you do.
Anonymous   |     |   Comment #203
Buckhead Community Bank (Georgia) dropped to 3.0 APY on July 1, 2009
Banking Guy
Banking Guy (anonymous)   |     |   Comment #204
@ Anonymous June 30 4:38 PM:

Regarding Foothills FCU, thanks for the info. Do you know who is eligible to join? They don't seem to provide many of these details on their website.

@ Rick:

Regarding Bank of Idaho, I believe they allow Utah residents to apply through their online Kasasa application. That is why I list them under Utah.

@ Anonymous July 2, 2009: Thanks for the update. Sorry to see the rate drop.
Anonymous   |     |   Comment #205
I am new to Rewards Checking, having opened two accounts with Union State Bank and Coulee Bank in the past two months. I have not used these accounts as of yet because of their debit card transaction requirements. I am somewhat confused on how these transactions work. If these banks want you to have 10 POS transactions a month, is that a "credit" or "debit" transaction when let's say you're getting a couple of gallons of gas? If I'm correct, you don't actually put in your pin # for it to qualify as a transaction do you? If anyone can answer this, it would be a great help!
Anonymous   |     |   Comment #206
Just say 'credit' when making a purchase and then use your debit card.
Anonymous   |     |   Comment #207
any one bank with City National Bank in Taylor TX ? apparently they were the first one to offer these high reward checking. They receive 4 out of 5 star rating from bankrate.com

the attraction is that there is no max deposit cap, and still get 3.2%, for 10-transaction
Anonymous   |     |   Comment #208
South Shore Savings Bank (Mass) from 4.44% APY to 4.04% APY, as of 9 July 2009; still up tp $25K.
Anonymous   |     |   Comment #209
Nodaway Valley Bank www.nvb.com
Reward Checking 3.51% 10 debits, 1 direct deposit or ACH and e statments
Anonymous   |     |   Comment #210
fyi- countrybank is very picky regarding # of existing bank inquiries. They denied me for having 9 within 6 months.
Anonymous   |     |   Comment #211
Here's another Texas bank with high-yield checking:

It pays 4.01% APY up to $25,000, and 1.01% APY above that.

It has the usual direct deposit/ACH debit, 10 POS transactions per month, etc. requirements.
Anonymous   |     |   Comment #212
Please review: SouthPoint Bank of Alabama - FDIC certificate 58088.
Anonymous   |     |   Comment #213
SouthPoint Rewards Checking
$0-100,000 4.00 APY

Anonymous   |     |   Comment #214
Adams Cooperative Bank changed from 5% APY (highest in Mass) to 4.00% APY ($25k limit). Banking Guy caught it early (7/18/09).
ADO (anonymous)   |     |   Comment #215
Here's a recent addition to rewards checking programs, Phila. and its western suburbs' Continental Bank, "My Choice Checking" at 4.01% interest. See: www.thecontinentalbank.com.

An online Application Center appears to allow one to sign up to start the process of opening an account. IF a visit to a Continental office is required, there's no statement to that effect.
Regards, Alan Oslick
Silver Spring, MD.
Michael (anonymous)   |     |   Comment #216
I just picked up a brochure for a 3.3%, $25K account at CoreFirst Bank & Trust.

Here is the flyer: http://5xl.com/misc/images/CoreFirst_Rewards.jpg

And here is the bank's page on the account: http://corefirstbank.com/personal/freerewards.shtml

Branches are in Kansas (Topeka, Kansas City, and Manhattan) and metro Denver.
Anonymous   |     |   Comment #217
Brookhaven Bank, Atlanta,GA has dropped to 4% from 4.5%.
Anonymous   |     |   Comment #218
Manadnock Community Bank (Mass): 4.25% to 3.30% APY (8/6/09).
Anonymous   |     |   Comment #219
FAB&T is no longer accepting out-of-state applications, effective 8/10/09.
John in Texas
John in Texas (anonymous)   |     |   Comment #220
visionbanktexas.com has a rewards checking of 5.01 APY
David (anonymous)   |     |   Comment #221
Beginning Spetember 1, 2009, Northwest Plus Credit Union (Washington) rate will drop to 3.01% APY
Anonymous   |     |   Comment #222
Northstar Bank of Texas has droped their rate from 4.51% APY to 4.01% APY as of 8-20-2009. Also there is now a maximum of 2 accounts allowed per household.
Anonymous   |     |   Comment #223
Northstar Bank of Texas is now 4.01%
Anonymous   |     |   Comment #224
Community Bank (Brockton, Mass) will reduce their rate from 4.51% APY to 4% APY by 15 September, according to their manager.
Anonymous   |     |   Comment #225
Neighbors Federal Credit Union is offering an account with 4.51%APY in Baton Rouge, LA
Anonymous   |     |   Comment #226
Marvern goes down to 3%.
Steve (anonymous)   |     |   Comment #227
looks like The Farmers National Bank of Danville KY has HY - http://www.fnbky.com
Steve (anonymous)   |     |   Comment #228
looks like The First National Bank of Altavista VA has hy - http://www.1stnatbk.com
Steve (anonymous)   |     |   Comment #229
looks like The First National Bank Artesia NM offers hy http://www.1streadyonline.com
Anonymous   |     |   Comment #230
embassy national bank in Lawrenceville, GA. 2.5% on a checking account.
Anonymous   |     |   Comment #231

Posting rates/limits along with banks would be helpful.
Anonymous   |     |   Comment #232
Just as a contribution: The NM one is about 5%, but limited to NM only.
djc314 (anonymous)   |     |   Comment #233
Rules are getting tougher and rates are getting lower....I am looking for a Missouri or Nationwide rewards checking for $50K debit card usage fine, electronic statements fine, cant have auto deposit or withdrawl from account by biller , ok for ach....already have ark bank..if anyone has one..already been to list did not see one..let me know..
Anonymous   |     |   Comment #234
Incommons Bank in TX accepts application nationwide.
Thomas (anonymous)   |     |   Comment #235
I wasn't sure where to post updates, so I figured I would try here.

Illinois - State Bank of Countryside has lowered it's rates to 3.58% APY - http://www.statebankofcountryside.com/c_checking.htm

Another Illinois Bank, MB Financial (an FDIC favorite for acquisitions of failed Illinois banks), offers a non-bancvue rewards checking account with some additional restrictions. http://www.mbfinancial.com/Personal/RedChecking/tabid/383/Default.aspx

Requirements / Features are:
* Points for using debit card (in addition to 4.0% APY to account for $1-$10,000)
* 12 Debit Card purchases
* Direct deposit of at least $250 or one auto-debited bill
* BIG DIFFERENCE: $500 average monthly minimum balance requirement, or a $10 fee will apply
* E-Statements
* Must live within Illinois, Indiana or Pennsylvania MB Financial Banking locations
Anonymous   |     |   Comment #236
Florida Central CU has lowered its rate to 4.50%. Eastern Financial Florida has lowered to 2.80%.
Anonymous   |     |   Comment #237
5% APY is a rare offer nowadays. Soon 4% APY will be the norm.
Anonymous   |     |   Comment #238
Community Bank (Brockton, Mass) officially reduced it rate from (4.51%, $25K/2.01% above $25K) to (4.01%, $25 K)/1.51% above $25K) as today (9/15/09); as stated by the CSR/Manager/President several weeks ago.
Anonymous   |     |   Comment #239
Cambridge Savings Bank (a $2B bank) is entering the reward checking market with a Supersmart Checking offer of 4% APY/$25K limit. However, the terms are 15 debit transactions and $5 monthly fee if less than 20 debit transactions. It is interesting that mid-size banks like this one are also entering the reward checking market.
Anonymous   |     |   Comment #240
First Clover leaf (Illinois) from 5.25% to 4.5%.
Anonymous   |     |   Comment #241
Re: mid-size and large banks with reward checking. Amegy Bank in TX with $10B in assets offers its Smart Yield Checking, currently 2.12% APY up to $25K.
Anonymous   |     |   Comment #242
One of the very few $50,000 offer: Provident Bank (SC) will reduce its rate from 4.51% to 4.01%.
Anonymous   |     |   Comment #243
E-mail from WB today: The current tier structure allows you to earn 4.0% APY* on balances between $0.01 and $50,000. As of October 29, 2009, the tier will change to allow you to earn 4.0% APY on balances between $0.01 and $30,000. All balances over $30,000 will earn 1.0% APY.*
Anonymous   |     |   Comment #244
WB = West Bank Iowa.
Anonymous   |     |   Comment #245
Commonwealth Bank is now limiting their rewards account to KY, IN and OH residents only.
Anonymous   |     |   Comment #246
Community National Bank now limited to Tennessee residents only.
Anonymous   |     |   Comment #247
I found Bank of the Sierra to be awful. In fact, after very confusing and contradictory phone conversations, and emails, I opened a checking account which THE BANK than closed because I asked them about the application process, the need for a credit report on me--a depositor, not a borrower, and security. I was appalled.
Anonymous   |     |   Comment #248
RFCU (Rockland Federal Credit Union, Mass) discontinued their reward checking accounts as of 10/1/09, rate for existing accounts dropped from 4% to 3.8%.
Anonymous   |     |   Comment #249
Bank of Sierra: Both their national availability and rate may not last long; i.e., soon it will limit to local OR it will lower rate OR both.

Get in while you can:-)
Anonymous   |     |   Comment #250
UMass: dropped from 4.09% to 3.9% as of 10/1/09.
Anonymous   |     |   Comment #251
Navigant (Mass): 4.05% --> 3.15% as of 10/1/09.
Anonymous   |     |   Comment #252
Rollstone B&T (Mass): 3.01% to 2.75% as of 10/1/09.
Anonymous   |     |   Comment #253
First New England FCU: increase to 4.01% APY.
Anonymous   |     |   Comment #254
Correction: First New England FCU: increase to 4.10% APY.
Anonymous   |     |   Comment #255
Air Academy FCU: Effective October 1, 2009, the new rate for MAAXIMUM Checking* on balances up to $50,000 will be 2.75% APY.
Anonymous   |     |   Comment #256
FNEF FCU: A rare upward adjustment on rate, excellent even just with $15K. Hope this is a trend, was sick with all these rate drops like a flu.
Anonymous   |     |   Comment #257
First Financial FCU (MIssouri): 5.0% to 4.01%.
Anonymous   |     |   Comment #258
Warren FCU (Wyoming): 4.01% now.
TravelingRD (anonymous)   |     |   Comment #259
South Carolina Bank and Trust 3.25% http://www.scbtonline/madmoney
Anonymous   |     |   Comment #260
QNB, Quakertown, PA has an e-checking at 3.25%.
chrismmoser (anonymous)   |     |   Comment #261
Wisconsin. First National Bank of Berlin. From 5.01% to 3.51%

Anonymous   |     |   Comment #262
I live in Cleveland, OH and my Credit Union pays 4.0% on checking! I belong to Firefighters Community Credit Union, open to everyone in Cuyahoga and Lake Counties, www.ffcommunity.com.
Anonymous   |     |   Comment #263
Vision Bank does not give you a first month grace period in your reward checking account. Don't do a large deposit until you receive your rewards card or you can end (like me) without interest on a large sum for a full month.
Anonymous   |     |   Comment #264
CountyBank listed under Florida is actually in South Carolina.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #265
Please note that CountyBank allows new customers from Florida and a few other states other than South Carolina to apply for their reward checking accounts. That's why it's listed under Florida.
Anonymous   |     |   Comment #266
BankGloucester (Mass) will drop their rate from 4.51% to 4.01%, during next billing period (24 October); per CSR.
Anonymous   |     |   Comment #267
Chartway CU accepts city/federal employees from all states under "Civil Service" category
Anonymous   |     |   Comment #268
Attention Banking Guy: When I called CountyBank to inquire about their rate of 4.75% (on $25K rewards checking account) because I reside in Florida, I was told that was misinformation posted on website here & that I could NOT get that rate. Please check back with CountyBank Customer Service: 1-800-726-8689. I'd like to be able to get that rate. Thanks.
Anonymous   |     |   Comment #269
Dedham Savings (in Mass) reduced their rate ... again; from 3.51% to 3.04%. Lucky that I got out long time ago:-)
Banking Guy
Banking Guy (anonymous)   |     |   Comment #270
Regarding CountyBank, I received an email reply today that stated residents from SC, NC, GA, TN and FL can apply for the Kasasa Cash account. The website still shows that it pays 4.75% APY for balances up to $25K if the requirements are met.
Anonymous   |     |   Comment #271
CountyBank: Why don't you just apply online instead of calling? CSRs are usually clueless. If the online application accepts your zip code, you are fine. I tried several Florida zip codes, they all went through.
Anonymous   |     |   Comment #272
Just found one for Colorado: Adams Bank & Trust giving 4%, up to $35,000. Not sure if it is good outside of Colorado. Requires 25 POS transactions.
The Girard bank, listed for Colorado, only applies in the 50-mile radius of two remote towns (missing most of the population of Colorado).
THANK YOU for this great site.
Anonymous   |     |   Comment #273
The popular FAB&T is falling like a rock, 4.4% to 3.5%; with limit from $50,000 to $35,000 in December; andlimited to one account... three-fold measures to close down its RCA business. They must be desperate.
Ryan (anonymous)   |     |   Comment #274
Was just notified Charter's Turbo Rewards Checking dropping rate to 1.25% effective immediately.
Anonymous   |     |   Comment #275
Beware "floating" qualification cycles, i.e., ones that either don't end on same date each month, or are not "predictable," e.g., next-to-last day of month. For example, see below for the qual cycles for the Air Academy FCU product.

October-09 9/30/09 10/29/09
November-09 10/30/09 11/27/09
December-09 11/30/09 12/30/09
January-10 12/31/09 01/28/10
February-10 1/29/10 2/25/10
March-10 2/26/10 3/30/10
April-10 3/31/10 4/29/10
May-10 4/30/10 5/28/10
June-10 5/31/10 6/29/10
July-10 6/30/10 7/29/10
August-10 7/30/10 8/30/10
September-10 8/31/10 9/29/10
Anonymous   |     |   Comment #276
Here’s a RC account that ties debit transactions count to tiered interest: iChecking at MidSouth FCU in GA, $10K cap.….50+ = 5%, 40-49 = 4%; 30-39=3%; 20-29=2%. Hopefully, this is not a model widely adopted in the future.
Anonymous   |     |   Comment #277
CharterBank in West Point Georgia offers Rewards Checking with an APY of 5.010% up to $25,000 with qualifications met. Over $25,000 the APY is 1.010% with qualifiers.
Anonymous   |     |   Comment #278
Unfortunately Provident Bank in New Jersey just lowered their rate to 3.26%
Anonymous   |     |   Comment #279
Members Credit Union (Mass): 4.01% to 3.01% APY.
Rick (anonymous)   |     |   Comment #280
GFA Federal Credit Union has rewards checking at 3.10% (http://www.gfafcu.com/home/rat/rat#Checking). Not a great rate but better than regular interest rates.
Anonymous   |     |   Comment #281
Thanks for all the updates, Ken.

Many FWFers seem to be burn-out with all the term (rate, limit, national availability) changes and are moving to mutual funds.

That will hopefully alleviate the herd phenomenon for a while and keep the RCA rate steady.
Anonymous   |     |   Comment #282
You should add Corning Credit Union to your list. 3% Windfall checking up to $25,000. http://www.corningcu.org/accounts/windfall-promo.htm
M (anonymous)   |     |   Comment #283
Please update your Georgia list to EXCLUDE "United Bank." See
M (anonymous)   |     |   Comment #284
Sorry -- disregard my recent comment about your Georgia list. Different "United Bank!"
Anonymous   |     |   Comment #285
New rewards checking account at MAC Federal Credit Union in Alaska - 3.5% up to $10K. See http://www.macfcu.org/home/rates/promo_specials#currentPromo
Anonymous   |     |   Comment #286
The Bank of Georgia has dropped to 0.88% apy
Anonymous   |     |   Comment #287
Utah Central Credit Union has dropped their rate to 3.0%
Anonymous   |     |   Comment #288
More banks to follow Charter's drastic frops...
Anonymous   |     |   Comment #289
Above post: "drastic drops", sorry.
Anonymous   |     |   Comment #290
Malvern Federal Savings Bank in PA just lowered their rewards checking rate from 3% to 2%!
Anonymous   |     |   Comment #291
what happened to bankdeals.blogspot.com?
Banking Guy
Banking Guy (anonymous)   |     |   Comment #292
I'm not sure what happened. I just noticed the problem at 5:15pm CST today, and I put in a request at Google's help forum. I did do a full backup last week, so I should be able to restore if absolutely necessary. Hopefully, it's just a temporary glitch at Google.
Anonymous   |     |   Comment #293
In a way, I am happy this "glitch" stopped all those politically-energized folks on complaining about the FDIC interest rate limitation action.
Anonymous   |     |   Comment #294
First Federal Bank of Iowa also offers 4% reward checking account

Anonymous   |     |   Comment #295
Malvern rate drop news was pretty old, around early November.
Anonymous   |     |   Comment #296
Add FWF link to above post (Malvern rate change: 11/13/09): http://www.fatwallet.com/forums/topic_view.php?catid=52&threadid=775437&start=1140
AtHome Dad
AtHome Dad (anonymous)   |     |   Comment #297
Whew... I hope you get back soon Bank Guy. Man, I miss my fix!
Anonymous   |     |   Comment #298
A sign of things to come???...
The following from Bank of Georgia
The Federal Deposit Insurance Corporation (FDIC) has notified the bank that we can no longer offer the Rewards Checking account product at the current rate of 4.01%. Under new guidelines established in Washington, this account is viewed as a regular interest bearing checking account and is subject to the new national market rate guidelines for banks that are operating under a regulatory agreement. Based on these guidelines and their interpretation that Rewards Checking and other similar products cannot offer a higher rate than a regular checking account, we are forced to reduce the rate on our Rewards Checking account to 0.88% Annual Percentage Yield (APY). This rate is in line with FDIC's determination of national market rates for checking accounts, and it reflects a premium to the current 0.25% APY that applies to our Rewards Checking account in the event the benchmarks for the higher rate are not met.

The government has come to help once again...
Anonymous   |     |   Comment #299
This applies to banks with C&D from FDIC. And, very importantly, only 1-2 banks were froced to drop rates like crazy.

Thus no alarm at all, IMHO.
Anonymous   |     |   Comment #300
New bank for Arizona: Sonoran Bank, N. A. offers High Yield Checking and High Yield Savings (tied to checking) Checking is 5.03% up to $30,000, 1.25% on all balances over $30,000. Qualifiers are 12 debit purchases, e-statements, 1 direct deposit or 1 ACH per statement cycle.
Anonymous   |     |   Comment #301
Above bank: real small ($30M) with an annual loss; but capital seems adequate.
Anonymous   |     |   Comment #302
rec the following from Vintage Bank (TX). Reward balances now cap @ 100K for 3.25%:

Beginning with the next statement cycle on December 25, 2009, the current qualifying Rewards yield of 3.25% APY will have a balance cap of $100,000.00. All qualifying balances over $100,000.00 will earn 1.30% APY, which is comparable to our current 1-year C.D. yield, for the next statement cycle. For example, the blended yield on a $200,000.00 balance would be 2.28% APY. If you have any questions regarding this change, please contact one of our new account representatives and, as always, thank you for your business.
Anonymous   |     |   Comment #303
Timberland Bank in WA down to 3.51% APY
Lini (anonymous)   |     |   Comment #304
Not sure if i like this new site. I think the old one reads much clear. Also, why is the Countybank? It's no longer listed under Georgia, Florida or Tennessee. Just disappeared?
Lar (anonymous)   |     |   Comment #305
Just tried to open a rewards checking account at ViewPoint but got denied because of a ChexSystems report. I have a near perfect credit rating, no outstanding loans or unpaid bills. I can only guess it's due to the number of credit inquiries. I've asked ChexSystems for a report. But, so far, no reply, ViewPoint says "no dice" until I clear whatever ding I got from ChexSystems. Any advice? Lar