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High-Interest Reward Checking Account at Patriot Bank in Florida


Update 5/13/2011: It has been reported that the top rate will be falling to 1.51% starting 6/15/11. Refer to the bottom of the post for the rate history.

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

  • 1.51% APY on balances up to $25,000
  • 1.01% on balances over $25,000
  • 0.05% base rate if qualifications are not met
  • refunds of ATM fees of up to $25 per cycle

The monthly requirements include:

  • 10 debit card purchases
  • one direct deposit or automatic payment
  • access online banking
  • receive e-statements

Additional features of the account regardless of the monthly requirements include:

  • $100 minimum initial deposit
  • no minimum balance requirement
  • no monthly service charge
  • Free Online Bill Pay

Update 3/02/10: The online application now states that they are only accepting applications from Florida.

There's an online application at the bank's Revolutionary Checking page. I sent an email to see if it's available nationwide, and according to the reply I received, they can open accounts through the mail without a branch visit. To open the account, they need a copy of your driver's license and copy of a utility bill (for address verification). These can be faxed or mailed. Make sure to check with the bank for the latest instructions since small banks often change their account availability policies.

Patriot Bank is located in west central Florida in the cities of Trinity, Port Richey, Palm Harbor, New Port Richey and Clearwater. The bank has been FDIC insured since 2004 (FDIC Certificate # 57789).

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.

Rate History:

  • 06/15/11: 1.51% APY up to $25K
  • 03/09/11: 2.21% APY up to $25K; 1.01% over; 0.05% base
  • 03/10/10: 3.01% APY up to $35K
  • 11/12/09: 3.01% APY up to $50K
  • 05/08/09: 4.01% APY up to $50K; 1.01% over; 0.15% base

Related Pages: Patriot Bank, Tampa, checking account, reward checking account

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Matthew (anonymous)   |     |   Comment #1
The online application makes you select a branch:
"Choose the location you would like to complete your application:"
So, it appears that a branch visit is now required and the account is therefore not available nationwide.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #2
I think this application has been this way since my initial post when I received confirmation from the bank about it being nationally available.
Anonymous   |     |   Comment #3
this acct is available nationwide!! i live in upstate Ny and just called them and signed up online. All i have to do is fax a copy of the drivers license
Anonymous   |     |   Comment #4
That's what it says in the review and that's why it's listed with a red asterisk indicating nationwide availability - duh!
Anonymous   |     |   Comment #5
please read the first comment by Matthew. Duh!!
Anonymous   |     |   Comment #6
Just pick a branch and fax over the Driver License Copy. It is nationally avilable.
Anonymous   |     |   Comment #7
According to a CSR today, due to the influx of funds, they are restricting their rewards checking to one account per household.
Anonymous   |     |   Comment #8
Rate to be reduced to 3.01% next week
Anonymous   |     |   Comment #9
Balance limit will drop from 50k to 35k starting March 10th. The rest seems to stay unchanged according to the email I received.
Anonymous   |     |   Comment #10
I just received an email from them: AS of 3/10/10 the maximum amount allowed in the Revolutionary Checking will be $35000. It was $50,000.  Banking guy, you seem correct that banks are cutting back on rewards checking.
Anonymous   |     |   Comment #11
just because its says available nationwide.You still might have to open the account in person at a branch To DUH