6.00% Checking Yields for Online Banking Customers
July 11, 2008
Reward checking accounts have been one of the fastest growing bank products of 2008 with several hundred banks now offering some incentive-based checking account. Each bank has it's own unique rewards and requirements, but they all require that the banking customer utilize some online banking services to earn the highest-tier yield. Consumers who do not envision ever using some combination of direct deposit, check cards, debit cards, online banking, online bill payment, or like receiving electronic statements should not consider a reward checking account. However, for consumers who keep balances over $10,000 in their liquid checking account and like online banking yields as high as 6.10% APY can be earned on their checking account balances. Most banks only offer the reward checking accounts to a specific geographic region, although some banks will accept accounts from out-of-state. Listed below are some of the nation's highest yields on reward checking accounts:
Crossroads Bank Illinois
6.10% up to $30,000
Monthly Requirements: 20 VISA debit card transactions excluding ATM transactions, receive electronic statements
TriStone Community Bank North Carolina
6.05% up to $25,000
Monthly Requirements: 12 VISA debit card transactions excluding ATM transactions, receive electronic statements, at least one direct deposit or ACH auto debit
Orange Savings Bank Texas
6.01% up to $25,000
Monthly Requirements: 0 debit card transactions, electronic statements, access online banking at least once, sign-up for direct deposit or receive a recurring ACH
The First National Bank of Dieterich Illinois
6.01% up to $25,000
Monthly Requirements: 10 debit card transactions, electronic statements, access online banking at least once
Rocky Mountain Bank Montana
6.01% up to $25,000
Monthly Requirements: electronic statements, use your free debit card, at least one direct deposit or automatic payment
Page Valley Bank Virginia
6.01% up to $25,000
Monthly Requirements: 10 VISA check card transactions, electronic statements, access online banking at least once, at least one direct deposit or direct debit
Tri-County Bank and Trust Iowa
6.01% up to $25,000
Monthly Requirements: 10 debit card transactions, electronic statements, at least one direct deposit or auto ACH debit
First Banking Center Wisconsin
6.01% up to $25,000
Monthly Requirements: 10 debit card transactions, electronic statements, at least one direct deposit
First Clover Leaf Bank Illinois
6.01% up to $25,000
Monthly Requirements: 10 debit card transactions, electronic statements, at least one direct deposit or ACH auto debit, 3 online bill payments
Charter Bank New Mexico
6.01% up to $25,000
Monthly Requirements: 10+ check card transactions, electronic statements, at least one direct deposit, access online activity at least once
Kansas State Bank Kansas
6.01% up to $25,000
Monthly Requirements: 10 check card transactions, electronic statements, one direct deposit or ACH auto debit, access online activity at least once
Arizona Bank and Trust Arizona
6.01% up to $20,000
Monthly Requirements: 12 debit card transactions, electronic statements, make and automatic payment or direct deposit
1st National Bank Henning Minnesota
6.01% up to $25,000
Monthly Requirements: 10 debit card transactions, electronic statements, access online activity at least once
Coulee Bank Wisconsin
6.01% up to $25,000
Monthly Requirements: 10 debit card transactions, electronic statements, at least one direct deposit
Focus Bank Missouri and Arkansas
6.01% up to $25,000
Monthly Requirements: 10 debit card transactions, electronic statements, access online banking
West Bend Savings Bank Wisconsin
6.01% up to $50,000
Monthly Requirements: 10 debit card transactions, electronic statements, at least one direct deposit
Citizens Bank Minnesota Minnesota
6.01% up to $25,000
Monthly Requirements: 10 check card transactions, receive electronic statements, at least one direct deposit or one automatic payment
Southern Community Bank and Trust North Carolina
6.00% up to $25,000
Monthly Requirements: 10 debit card transactions, electronic statements, at least direct deposit or automatic draft
Marlborough Co-Operative Bank Maine, Massachusetts
5.51% up to $25,000
12 signature-based debit card transactions, at least one direct deposit or ACH auto debit
Bank of Blue Valley Kansas
5.51% up to $25,000
Monthly Requirements: 12 signature-based debit card transactions, at least one direct deposit or ACH auto debit
NewPortFed Rhode Island
5.51% up to $50,000
Monthly Requirements: 10 check card transactions, electronic statements, access online banking at least once, at least one for direct deposit or ACH
RCSBank Missouri
5.37% up to $25,000
Monthly Requirements: 8 check card transactions, one direct deposit or auto ACH debit, electronic statements
New Frontier Bank Colorado
5.26% up to $50,000
Monthly Requirements: 12 debit card transactions, electronic statements, at least one direct deposit or automatic payment, access online banking at least once
Cumberland County Bank Tennessee
5.26% up to $25,000
Monthly Requirements: 10 check card transactions, electronic statements, at least one direct deposit or auto ACH debit
Bank of Putnam County Tennessee
5.26% up to $50,000
Monthly Requirements: 10 check card transactions, electronic statements, at least one direct deposit or auto ACH debit
All America Bank Oklahoma
5.25% up to $25,000
Monthly Requirements: 10+ check card transactions, electronic statements
MidwestOne Bank Iowa
5.25% up to $25,000
Monthly Requirements: 10 debit card transactions, electronic statements, at least one direct deposit or auto ACH debit
Community First National Bank Missouri, Arkansas
5.10% up to $25,000
Monthly requirements: 10 debit card transactions, electronic statements, at least one direct deposit or auto ACH debit
Heartland Community Bank Arkansas
5.06% up to $30,000
Monthly Requirements: 10 check card transactions, electronic statements, at least one direct deposit or auto ACH debit, access online banking once
BankNewport
Rhode Island
5.05% up to $100,000
Monthly Requirements: 12 debit card transactions, electronic statements, at least one direct deposit or auto ACH debit
Heritage Bank New Jersey
5.01% up to $25,000
Monthly Requirements: 10 debit card transactions, electronic statements, at least one direct deposit or auto ACH debit, access online banking
Noble Bank and Trust Alabama
5.01% up to $25,000
Monthly Requirements: 12 debit card transactions, electronic statements, at least one direct deposit or auto ACH debit
Peoples Bank Tennessee
5.01% up to $50,000
Monthly Requirements: 10 debit card transactions, electronic statements, at least one direct deposit or ACH auto debit
Opportunity Bank Texas
5.01% up to $25,000
Monthly Requirements: 10 debit card transactions, electronic statements, at least one direct deposit or ACH auto-debit, log-in at least once
