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State Bank of Toledo Cuts Reward Checking Balance Cap to $25K

Ken Tumin
Ken Tumin   |     |   5,708 posts since 2009

State Bank of Toledo's reward checking account had a $70K balance cap for over two years. They have just cut it to $25K. So their top rate of 2.51% APY now only applies to balances up to $25K. The portion of the balance over $25K earns 1%.

This is yet another way banks can reduce the interest they pay on reward checking accounts. Refer to my account review for more details.