Comments on High Yield Checking Deals - Reward Checking: Introduction - High Yield Checking Deals

Beacon Federal Credit Union (http://www.beaconfed....

2008-07-13T19:35:00.001-07:00

Beacon Federal Credit Union (http://www.beaconfed.org) in Texas has reward checking at 5.5% APY up to $40,000.
Requirements:
• Complete twelve (12) check card
transactions
• Setup one (1) ACH direct deposit or auto debit
• Enroll and receive electronic statements
http://www.beaconfed.org/upload/visionrewardsinsert_15090.pdf
They are changing the website this month (July), so links might change on site

Beacon Federal Credit Union (http://www.beaconfed....

2008-07-13T19:35:00.000-07:00

West Des Moines State Bank in Iowa is now offering...

2008-07-02T13:37:00.000-07:00

West Des Moines State Bank in Iowa is now offering reward checking. 5.00% up to $50,000; $25 in ATM fee refunds; requires 12 transactions per month.

http://www.westbankiowa.com/reward_me_checking

Verity Credit Union (in Washington) dropped their ...

2008-07-02T09:52:00.000-07:00

Verity Credit Union (in Washington) dropped their rate from 6.01% to 5.05%, effective 7/1/08; FYI.

First Iowa State Bank has 5.01% reward checking. T...

2008-07-02T08:56:00.000-07:00

First Iowa State Bank has 5.01% reward checking. This may be available nationwide.

https://www.firstrewardchecking.com/index.html

Hawaii USA FCU has just started a $25K at 4.25%, w...

2008-06-28T23:53:00.000-07:00

Hawaii USA FCU has just started a $25K at 4.25%, with 10 credit card transactions, estatements and 1 ACH deposit as a requirement. The other big feature is that it is they are the only bank/credit union on Hawaii that offers shared banking with mainland credit unions. This is a big deal when wiring funds. Wires to/from the mainland must be completed before 10am HST/4pm EST. Same day wiring of funds in Hawaii is impossible and expensive.
hawaiiusafcu.org

I market these programs to community banks and the...

2008-06-27T12:30:00.000-07:00

I market these programs to community banks and the banks are also saving money by not processing as many checks, sending E-statements rather than paper statements, and the use of other technology services. Community Banks are great places to bank, they know your name, treat you fairly, and appreciate your business. To the mega banks, you are just a number on a spreadsheet.

Reward Checking is for real, it is a fantastic product that has been around for 8 years and it is here to stay!

Thanks. Sorry to see such a big rate drop. I've up...

2008-06-23T14:50:00.000-07:00

Thanks. Sorry to see such a big rate drop. I've updated my Institute for Savings post. The table will be updated soon with this change.

Institue for Savings ... dropped from 6.01% to 4% ...

2008-06-23T14:10:00.000-07:00

Institue for Savings ... dropped from 6.01% to 4% APR ... seems to be a trend. Please update.

Reward checking resource: http://www.money-rates.c...

2008-06-20T16:21:00.000-07:00

Reward checking resource: http://www.money-rates.com/rewardschecking.htm

Thanks. I've updated the Eastwood Bank post. The t...

2008-06-19T05:41:00.000-07:00

Thanks. I've updated the Eastwood Bank post. The table will be updated in the next day or two.

Eastwood bank is down to 5.01%. MN/WIhttp://www.ea...

2008-06-18T18:11:00.000-07:00

Eastwood bank is down to 5.01%. MN/WI

http://www.eastwoodbank.com/promo5/landing.html

frugalboydave

TwinStar is down to 4.0%

2008-06-04T23:19:00.000-07:00

TwinStar is down to 4.0%

I've noticed that there are some drawbacks to rewa...

2008-06-04T19:39:00.000-07:00

I've noticed that there are some drawbacks to reward checking accounts. First, the daily ATM cash withdrawal limits are usually lower than standard checking or savings accounts. (Most are from $200-300-500; while standard accounts are from $300-1000.) Second, some of these banks consider a Friday afternoon ATM as a withdrawal and disallows your use of ATM for Saturday, Sunday, and Monday. Third, e-statements do not show any of your check images or posted checks when you view it for printin;. You have to click each check individually and print them separately. Plus, they're only available online for upto 30-60-120 days; after that period, you would be charged a fee to get check copy. This should be included in the general info.

Verity CU will be down to 5.05% from July 2008. Fo...

2008-06-04T09:28:00.000-07:00

Verity CU will be down to 5.05% from July 2008. For the month of June 2008, they are offering 6.75%.

Coulee Bank ( http://www.couleebank.net ) offers a...

2008-06-04T08:30:00.000-07:00

Coulee Bank ( http://www.couleebank.net ) offers an incredible 6.01% APY with their Rewards Checking account. The rate is easy to earn. All you have to do is make 10 check card transactions a month, use e-statements, and do 1 automatic payment a month (they call it ACH). Coulee Bank pays 6.01% on the first $25,000 and 1.01% on anything above that. The best thing about this account besides the rate is it is FREE, you can apply online, and it is from a great bank with real people that answer the phone. And as they like to say, Banking Green has its Rewards. The Rewards Checking account saves paper and preserves our natural resources. No wonder I feel good about recommending this to everyone I know. Check it out. I guarantee you will love it.

I have an account with Verity Credit Union - it ha...

2008-06-03T03:22:00.000-07:00

I have an account with Verity Credit Union - it has raised its rate to 6.75 for the month of JUNE to celebrate its 75th anniversary. As of July 1 the rate will drop to 5.05%

Thanks for the comment about Citizens Bank Minne...

2008-05-27T09:24:00.000-07:00

Thanks for the comment about Citizens Bank Minnesota. I did this post about this issue last week after another reader noted this change. Note, I've removed this bank from the nationwide list.

I just wanted to let you know that Citizens Bank M...

2008-05-27T09:08:00.000-07:00

I just wanted to let you know that Citizens Bank Minnesota no longer accepts out of state funds. They told me that this was because many out of state members were "abusing" the accounts. Perhaps this means that their debit card purchases weren't pricey enough to give the bank adequate compensation. Great site here. Thank you.

Dedham Savings (in Mass) has reduced its rate from...

2008-05-26T11:41:00.000-07:00

Dedham Savings (in Mass) has reduced its rate from 6.02% to 5.01% as 22 May 2008, FYI.

I noticed on Scott Credit Union web site that thei...

2008-05-19T08:18:00.000-07:00

I noticed on Scott Credit Union web site that their rate has dropped to 5.05 APY

New bank to add to your list for Texas:http://inde...

2008-05-16T09:17:00.000-07:00

New bank to add to your list for Texas:

http://independent-bank.com/

Their "Free Rewards Checking" account offers 5.01% APY with only 8 uses of the debit card. They also give you the first 50 checks for free.

http://k2.secure-banking.com/3013c_files/IndBank_grid%20Feb08.pdf

Thanks for the info on TriStone Bank and Capital B...

2008-05-13T17:33:00.000-07:00

Thanks for the info on TriStone Bank and Capital Bank (from NC). I noticed the online application at TriStone Bank has the following:
Accepting applications in the following states: North Carolina, South Carolina, Georgia, Florida, Virginia, Tennessee.
I've updated my TriStone post to include these states. Do you know if they may actually include all states?

For Capital Bank, it does appear that they've made this available nationwide. It's a nice change from my first post when they said a branch visit would be required. I've made the label change on this post, and it should soon show up in the nationwide list.

About AAFCU, I'm afraid membership in USAFA Association of Graduates is no longer a qualification. Only employees are qualified. I have more details in that post.

Links to these posts are on the right column of the tables.

Regarding the AAFCU-To join the AAFCU, you simply ...

2008-05-13T11:47:00.000-07:00

Regarding the AAFCU-
To join the AAFCU, you simply need to pay $50 to join the
"USAFA Association of Graduates."
I'm sure you know of SOMEONE in your family who is/was a military vet...Thats how I joined!

FYI-Tristone bank (NC)& capital bank (NC) are nati...

2008-05-13T11:41:00.000-07:00

FYI-
Tristone bank (NC)& capital bank (NC) are nationwide.
The list does not indicate this.