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What are Reward Checking Accounts?
These type of checking accounts are becoming a very popular offering from online banks. A Rewards Checking account typically offers a premium rate for customer who maintain certain requirements which may include one or more of the following requirements: (1) monthly direct deposit (2) month online bill payment (3) electronic statements (4) balance requirements or (5) opening a savings account.
Rewards checking accounts pay rates as high as 6.01%. Reward checking account yields are very attractive to online banking customer who maintain a balance in their account, especially with the national average on bank checking accounts standing at below 1%. Most banks limit the balance amount for which the top yield will apply after which the yield will drop to a second-tier level. Rewards checking account are designed for customers who bank online and do not require the necessity of traditional branch banking. Many reward checking accounts require a branch visit or residency in the state the bank is located.
Reward Checking Accounts with High Rates
| BANK | STATE | APY | APY LIMIT | MONTHLY REQUIREMENTS |
| New Frontier Bank | Colorado | 6.26% | up to $50,000 | 12 debit card transactions, electronic statements, at least one direct deposit or automatic payment, access online banking at least once |
| Orange Savings Bank | Texas | 6.01% | up to $25,000 | 10 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 | 10 debit card transactions, electronic statements, access online banking at least once |
| Rocky Mountain Bank | Montana | 6.01% | up to $25,000 | 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 | 10 VISA check card transactions, electronic statements, access online banking at least once, at least one direct deposit or direct debit |
| Noble Bank and Trust | Alabama | 6.01% | up to $25,000 | 12 debit card transactions, electronic statements, at least one direct deposit or auto ACH debit |
| Tri-County Bank and Trust | Iowa | 6.01% | up to $25,000 | 10 debit card transactions, electronic statements, at least one direct deposit or auto ACH debit |
| Heartland Community Bank | Arkansas | 6.01% | up to $30,000 | 10 check card transactions, electronic statements, at least one direct deposit or auto ACH debit, access online banking once |
| MidwestOne Bank | Iowa | 6.01% | up to $25,000 | 10 debit card transactions, electronic statements, at least one direct deposit or auto ACH debit |
| Charter Bank | New Mexico | 6.01% | up to $25,000 | 10 debit card transactions, electronic statements, at least one direct deposit or auto ACH debit, access online banking once |
| First Banking Center | Wisconsin | 6.01% | up to $25,000 | 10 debit card transactions, electronic statements, at least one direct deposit |
| First Clover Leaf Bank | Illinois | 6.01% | up to $25,000 | 10 debit card transactions, electronic statements, at least one direct deposit or ACH auto debit, 3 online bill payments |
| State Bank of Texas | Texas | 6.01% | up to $100,000 | 15 check card transactions, electronic statements, at least one ACH or direct deposit , at least one online bill payment |
| Charter Bank | New Mexico | 6.01% | up to $25,000 | 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 | 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 | 12 debit card transactions, electronic statements, make and automatic payment or direct deposit |
| 1st National Bank Henning | Minnesota | 6.01% | up to $25,000 | 10 debit card transactions, electronic statements, access online activity at least once |
| Coulee Bank | Wisconsin | 6.01% | up to $25,000 | 10 debit card transactions, electronic statements, at least one direct deposit |
| Focus Bank | Missouri and Arkansas | 6.01% | up to $25,000 | 10 debit card transactions, electronic statements, access online banking |
| Bank of Idaho | Idaho | 6.01% | up to $25,000 | 10 debit card transactions, electronic statements, at least one direct deposit or ACH auto debit, Idaho residents only |
| West Bend Savings Bank | Wisconsin | 6.01% | up to $50,000 | 10 debit card transactions, electronic statements, at least one direct deposit |
| Legacy Bank | Oklahoma | 6.00% | up to $50,000 | 12 check card transactions, $100 opening deposit, electronic statements, sign up for direct deposit |
| Southern Community Bank and Trust | North Carolina | 6.00% | up to $25,000 | 10 debit card transactions, electronic statements, at least direct deposit or automatic draft |
| Sutton Bank | Ohio | 5.51% | up to $25,000 | 11 check card transactions, at least one direct deposit or ACH auto-debit, electronic statements |
| Community West Bank | California | 5.50% | up to $25,000 | 10 debit card transactions, electronic statements, at least one direct deposit |
| RCSBank | Missouri | 5.37% | up to $25,000 | 8 check card transactions, one direct deposit or auto ACH debit, electronic statements |
| Cumberland County Bank | Tennessee | 5.26% | up to $25,000 | 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 | 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 | 10+ check card transactions, electronic statements |
| First National Bank | Nebraska | 5.25% | up to $25,000 | 15 VISA check card transactions, electronic statements, ACH or direct deposit |
| Rollstone Bank and Trust | Massachusetts | 5.25% | up to $100,000 | 10 debit card transactions, receive electronic statements, direct deposit either payroll, pension, or social security payments |
| Community First National Bank | Missouri, Arkansas | 5.10% | up to $25,000 | 10 debit card transactions, electronic statements, at least one direct deposit or auto ACH debit |
| BankNewport | Rhode Island | 5.05% | up to $100,000 | 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 | 10 debit card transactions, electronic statements, at least one direct deposit or auto ACH debit, access online banking |
| Peoples Bank | Tennessee | 5.01% | up to $50,000 | 10 debit card transactions, electronic statements, at least one direct deposit or ACH auto debit |
| Opportunity Bank | Texas | 5.01% | up to $25,000 | 10 debit card transactions, electronic statements, at least one direct deposit or ACH auto-debit, log-in at least once |
| Bank of Little Rock | Arkansas | 5.01% | up to $25,000 | 10 debit card transactions, electronic statements, at least one direct deposit or ACH auto debit |
| The Bank N.A. | Oklahoma | 5.01% | up to $25,000 | 12 debit card transactions, electronic statements |
| Monroe Bank and Trust | Michigan | 5.01% | up to $25,000 | 15 debit card transactions, electronic statements, receive e-mail reminders, at least one direct deposit of a payroll check or retirement check |
| State Bank of Toledo | Ohio | 5.01% | up to $25,000 | 10 debit card transactions, electronic statements, at least one direct deposit |
| Bank of Fayetteville | Arkansas | 5.01% | up to $25,000 | 10 VISA check card transactions, electronic statements, at least one direct deposit or ACH payment, sign on to online banking |
| Capital Bank | North Carolina | 5.01% | up to $25,000 | 10 debit card transactions, electronic statements, at least one direct deposit or auto-debit |
| Community West Bank | California | 5.00% | up to $25,000 | 10 check card transactions, electronic statements, at least one direct deposit or auto ACH, log-in at least once |
| Columbia River Bank | Oregon | 4.84% | up to $25,000 | 10 debit card transactions, electronic statements, at least one direct deposit or auto ACH, log-in at least once |
| North Middlesex Savings Bank | Massachusetts | 4.60% | up to $50,000 | 12 debit card transactions, electronic statements, at least one direct deposit |
| Home State Bank | Colorado | 4.56% | up to $25,000 | 10 debit card transactions, electronic statements, at least one direct deposit |
| Haverhill Bank | Massachusetts | 4.51% | up to $50,000 | 10 debit card transactions, electronic statements, at least one direct deposit or ACH auto debit |
| Bank of Hiawassee, Bank of Blairsville, Bank of Blue Ridge | Open to all states | 4.51% | up to $99,999 | 10 debit card transactions, electronic statements, at least one direct deposit, at least one online bill payment |
| Clinton Savings Bank | Arkansas | 4.51% | up to $50,000 | 10 debit card transactions, electronic statements, at least one direct deposit or auto ACH debit |
| Butler Bank | Massachusetts | 4.50% | up to $50,000 | 10 debit card transactions, electronic statements, at least one direct deposit or auto ACH debit |
| First Arkansas Bank & Trust | Arkansas | 4.44% | up to $50,000 | 10 debit card transactions, electronic statements, at least one direct deposit, auto ACH debit, or online bill payment, at least one log-in to online banking |
| Wilson Bank and Trust | Tennessee | 4.25% | up to $50,000 | 10 check card transactions, electronic statements, at least one direct deposit or ACH auto debit |
| Southbridge Savings Bank | Massachusetts | 4.25% | up to $50,000 | 10 debit card POS transactions, electronic statements, at least one direct deposit or ACH auto debit |
| Premier Bank | Florida | 3.51% | up to $50,000 | 12 check card transactions, electronic statements, one direct deposit or pre-authorized electronic payment |
Best Reward Checking Deals by State