Update 8/09/10: The top rate has fallen to 3.01% APY. Refer to the bottom of the post for the rate history.
Bank Gloucester is offering a reward checking account that pays 3.01% APY on balances up to $25,000 (1.01% for above) and refunds all ATM fees nationwide if the following monthly requirements are met:
- 10 debit card purchases
- one direct deposit or automatic payment
- use online banking to receive electronic statements
If these are not met, the rate falls to 0.10%. Minimum initial deposit is $50. There are no minimum balance requirements and no monthly maintenance fees.
It appears a branch visit is required to open an account. The bank has one office located in Gloucester, Massachusetts.
The bank has been FDIC insured since 1987 (FDIC Certificate # 26536).
Other Reward Checking Accounts
To find reward checking accounts in other areas of the nation or to learn more about these accounts, please refer to my High Yield Checking website.
- 08/06/10: 3.01% APY up to $25K
- 10/24/09: 4.01% APY up to $25K
- 12/22/08: 4.51% APY up to $25K; 1.01% over; 0.10% base