Bank Deals Blog: Checking & Reward Checking Deals

BOM Bank began offering its Premium Checking account more than three years with an initial 4.09% APY on qualifying balances up to $15k, and that rate is still in effect. Qualifying balances greater than $15k earn 0.20% APY, with non-qualifying balances earning 0.15% APY.

The monthly qualifying requirements have also remained the same and include,

• At least 20 monthly debit card transactions.
• At least one ACH payment or Direct Deposit.
• Enrolled in and agree to...

Louisiana-based Pelican State Credit Union (Pelican) has been offering Kasasa brand products for more than five years. Although the Kasasa Cash has always had a competitive rate, the $7.5k balance cap limited its overall appeal. The current 4.25% APY is one of the best rates...

More than four years ago, I wrote about Texoma Community Credit Union’s (Texoma CCU) Ultimate Rewards Checking, which earned 3.51% APY on qualifying balances up to $10k. While that rate and balance cap are still in effect, the name of Texoma CCU’s reward checking account is now Cashtastic Checking. Qualifying balances over $10k earn 0.25% APY, with non-qualifying balances earning 0.05% APY.

The Cashtastic Checking monthly...

In another relevant Forum post yesterday, DA reader, ichaelm, pointed out that the 0.85% APY offered on Paramount Bank’s High-Interest Checking “beats most savings accounts [rates].” The nationally available High-Interest Checking account is NOT a rewards checking account. I’m just going to quote ichaelm for some of the details, because I really enjoyed his description:

While 0.85% APY may not seem like a competitive rate, it’s currently the highest APY available for a nationally available standard checking...

The last time I wrote about KS StateBank’s reward checking account (RCA), Checking PLUS, was in early 2016. At that time, KS StateBank had just started offering Checking PLUS on a nationwide basis. The Checking PLUS online market area was recently changed to Arizona, Kansas, and Missouri.

My first Checking PLUS blog post was way back in 2008 and DA...

Frontier Bank’s reward checking account (RCA), Big Deal Cash, was added to the product line in July 2019, with an initial 3.25% APY on qualifying balances up to $25k. The rate dropped to 2.25% APY in March and is still in effect. Qualifying balances of $25k+ earn 0.15%...

Coosa Pines Federal Credit Union (Coosa Pines) unveiled its Flexible Rewards Checking account approximately one year ago. The initial 3.10% APY on qualifying balances up to $20k is still in effect. Qualifying balances above $20k earn 0.10% APY, with non-qualifying balances not earning any interest.

The qualification requirements include,

• At least 15 debit card debit purchases.
• At least one direct deposit.
• At least two ACH payments.
• Be enrolled in and receive eStatements.

In January 2017, Industrial Bank added the Kasasa brand to its product line. The Kasasa Cash’s initial 2.50% APY on qualifying balances up to $15k is still in effect. Qualifying balances over $15k earn 0.25% APY, with non-qualify balances earning 0.01% APY.

The monthly qualification requirements are fairly standard, with no direct deposit required.

• At least 12 debit card purchases
• Be enrolled and log into online banking
• Be enrolled in and...

Farmers State Bank’s (FSB) reward checking account, Loyalty Checking, is currently earning 3.05% APY on qualifying balances up to $15k. Qualifying balances above $15k earn 0.15% APY, with non-qualifying balances earning 0.01% APY.

The Loyalty Checking has been part of FSB’s product line for about 11 years. The initial 5.01% APY on qualifying balances up to $25k lasted almost one year, dropping to 3.25% APY in October...

Farmers State Bank (FSB) began offering the Kasasa brand product line approximately two years ago. The Kasasa Cash currently earns 2.50% APY on qualifying balances up to $25k; qualifying balances above $25k earn 0.20% APY, with non-qualifying balances earning 0.05% APY.

The monthly qualifying requirements to earned the stated APY are fairly standard.

• At least...