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Two Hot Reward Checking Accounts Available Nationwide

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Update 9/08/09: A reader received notice from Incommons Bank that they are no longer accepting applications from outside of Texas.

With so many savers looking for decent interest rates, hot deals don't last long. So keep that in mind with these two deals. I've received confirmation from the two banks today that both of their reward checking accounts are available nationwide. As we've learned from banks like First Arkansas Bank & Trust, Bank2 and Countybank, banks with hot reward checking accounts will often reduce availability before long. We'll see how long these will last:
  • 5.01% APY up to $25K at Incommons Bank in TX (account review)
  • 4.50% APY up to $25K Guaranteed to May 2010 at Commonwealth Bank & Trust Company in KY (account review)
For savers who have been watching their deposit rates fall week after week, that rate guarantee being offered by Commonwealth Bank is especially nice. I have a few other rate guarantees that are only local deals listed in this late July post. I haven't reviewed these to see if they're still avaiable. Please leave a comment if any of these have changed or if you've found other reward checking rate guarantees.

These latest nationwide deals are not yet included in my nationwide list of reward checking accounts. These will be added soon (unless the banks start restricting the accounts before then). The Incommons Bank rate of 5.01% far exceeds the next best nationwide rate of 4.51% APY.

Most banks offering reward checking accounts only allow people in their local market areas to apply. I have the full list of these reward checking accounts at the front page of my High Yield Checking Website. Many banks have cut their rates for September, and I don't yet have these changes noted on this list. I'll be making these rate updates in the next few days.

Update 12:23pm: You win some and you lose some. Community National Bank was on the top of my nationwide list of reward checking accounts with a 4.51% APY. I just learned today that the bank is now restricting it to consumers who live in the Southeastern US (see post).

Overview of High Yield Reward Checking Accounts:

If you're new to reward checking accounts and wonder how they can offer such high interest rates, please refer to my reward checking introduction and my post on the math behind reward checking.
Related Pages: checking account

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The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.