North Middlesex Savings Bank Max Checking Account

Below is a decent “Max Checking Account” offer out of North Middlesex Savings Bank. Currently this account is paying 2.28% APY on deposits between $10 and $49,999. Although they call this a “max checking account” it functions similarly to the other “rewards checking” or “high interest checking accounts” we’ve covered in the past.

Account Details:

To earn the Maximum Rate and nationwide refund of ATM fees, the account must – during the eligibility cycle – have: 12 posted debit card purchases, (excluding ATM’s), receive account statement electronically (when available); access online banking once and receive a recurring direct deposit of a payroll, pension or government issued credit.  If these conditions are not met during the eligibility cycle, the account will earn the Standard Rate of 0.25% APY, and will not receive the nationwide refund of up to $5.00 in ATM fees. The eligibility cycle starts the day after the third Wednesday of each month and ends the day before the third Wednesday of the next month.
The rate on their “max savings product,” although coming with a few strings, blows away the other savings rates offered on their liquid savings/checking accounts. Below are their checking, money market and savings account offers with their accompanying interest rates.

High Interest Checking Account with $200 sign up bonus!

In the market for a new high interest checking account? How about one with a $200 sign up bonus and great interest rate to boot? That’s what South Shore Savings Bank, out of Massachusetts is currently offering! Thanks to BankVibe.com reader Jenn for sending us this sweet offer.

Requirements to earn the $200 bonus:

- Sign up to receive monthly e-Statements
- Receive at least one direct deposit per statement cycle
- Make at least 15 debit card purchases per statement cycle (excluding ATM transactions)
- Sign up for Home Banking and use Bill Pay at least once per statement cycle

PLUS – Earn a whopping 3.64% APY on all balances between $10 and $24,999!

Terms and Conditions of this special offer:

If requirements are met, SSSB will refund up to $10 per statement cycle for another bank’s ATM surcharges and will not charge a foreign ATM fee for using another bank’s ATM. If you do not meet the requirements per statement cycle, your account will still function as a no monthly fee checking. No minimum balance required to maintain account. Minimum deposit to open account is $10.00. Minimum deposit to earn interest is $10.00. Offer may be withdrawn at anytime. One account per tax reporting owner. A statement cycle ends the last business day of a calendar month.

Best “interest checking” account in Connecticut paying 4.10%

In February of last year we touted First New England Federal Credit Union’s interest checking account as one of the highest yielding on the market. And today, while not the highest, it remains near the top. In February of 2009 this account was providing yields of 5.15% APY on balances up to $25,000. Today this account still provides a whopping yield of 4.10% APY, however limits balances to $15,000 (any balance exceeding that amount will only garner 0.50% APY). When taking into consideration the nose dive many interest checking account rates took over the last year, this account looks pretty rewarding. The top long-term CD rates in Connecticut aren’t even paying out these rates.

Features of Rewards Checking Account from FNFCU:

• 4.10% APY – This is a variable rate and is subject to change without notice.
• ATM Refunds – $25 in ATM refunds per cycle IF requirements are met.
• No fees or minimum balance requirements.

KANZA Bank’s Rewards Checking Account: 4.00% APY

Another decent Rewards Checking Account came rolling into our inbox this morning. This one is being offered by Kanza Bank - a family owned, community bank with deep roots in Kansas. Kanza Bank, based out of Kingman, Kansas, is offering a high yield “rewards checking account” that is providing a very generous 4.00% APY on all balances up to $25,000 when qualifying conditions are met. If your account balance exceeds the $25k threshold you will still garner a respectable 1.75% APY on the exceeding amount (4.00% APY on the initial $25k).

Kanza Bank Rewards Checking Account Details:

To receive the Tier 1 and Tier 2 APYs (Tier 1 = 4.00% APY paid on balances up to $25k, Tier 2 = 4.00% APY paid on first $25k plus 1.75% APY paid on exceeding amount), you must meet the following three qualifications per statement cycle:

1) Make 12 debit card purchases

2) Receive one direct deposit or authorize one ACH auto debit

3) Receive s-Statements

If qualifications are not met, account will receive 0.05% APY on entire balance. Available to personal accounts only. You must maintain a minimum balance of $1,000 in the account each day to obtain the disclosed APY. You must maintain a minimum balance of $2,500 in the account each day to obtain the disclosed APY.  Fees may reduce earnings on these accounts.

Raritan Bay Federal Credit Union’s rewards checking account

Raritan Bay Federal Credit Union out of New Jersey has a very nice Rewards Checking Account which is paying a whopping 5.01% APY on all balances up to $25,000 (earn 1.01% APY on balances above $25k). This currently smashes the national average for money market accounts, which currently sits at a meager 1.20% APY. However, like many other interest checking accounts we have covered in the past, this one comes with a few strings attached.

Thanks to BankVibe reader Tim for sending this one in!

4 monthly qualifications must be met to earn the advertised interest rate:

• 8 mastercard signature based purchases
• set up one recurring direct deposit or authorize and automatic monthly transfer from this account
• enroll and receive statements electronically (e-statements)
• access online banking and enroll in online bill pay

If you can meet the above requirements and have a large lump sum (less than $25k) in which you would like to have earn an optimal interest rate, then this account is probably your best bet.

Additional Account Features:

• free ATM use nationwide (ATM surcharge refunds every month from Raritan Bay Fed CU)
• No monthly service fees associated with this account
• earn 1.01% APY on balances above $25,000
• Average daily balance method used to calculate dividends

Rewards Checking Account in Alabama paying 4.01% APY

Anyone looking to deposit $100k into a high-yield, FDIC insured, interest bearing checking account? If so, SouthPoint Bank out of Alabama has a great deal on their “rewards checking account.”

Currently, they are offering an interest rate of 4.01% APY paid on all balances up to $100,000, with 1.01% APY paid on balances above that amount.

Thanks to BankVibe reader Sean for sending this one in!

One thing that slightly worries me about this rate is that it became effective back in April and has not been updated since. Interest rates in general, especially savings account rates and CD rates have dwindled drastically since then, so this rate may be on the verge of a drop.

This is a variable rate and is subject to change without notice.

Like all other Rewards Checking Accounts, you will be required to make a certain amount of debit card purchases each month. You will also need to set up at least one ACH auto transfer from this account along with enrolling to receive e-statements to earn this advertised interest rate.

SouthPoint Bank was founded in 2005 as a result of SouthTrust Corporation announcing that regional giant Wachovia was acquiring it. It was at that point that three bankers, bound by commitment to independence and the desire to provide the Birmingham area with a locally based bank, began making plans to open what would become SouthPoint Bank.

High interest “Rewards Checking” account: 4.01% APY

These rewards checking accounts keep showing up in the BankVibe inbox. This one comes from Danvers Bank and is available to people throughout the country. Currently it yields a whopping 4.01% APY on all balances up to $25k with a much lower rate of 0.25% APY paid on all balances above that mark. Like most interest checking accounts you must meet the monthly requirements to receive the advertised rate.

Here are the terms, conditions and benefits of this account:

- 4.01% Annual Percentage Yield (APY) paid on daily balances up to $25,000, and 0.25% APY paid on all amounts above $25,000 each statement cycle the minimum requirements are met.

- To qualify for the Rewards Rate, account holders must complete the following each statement cycle: perform at least 12 debit card transactions, receive a monthly statement electronically, access online banking at least once, and receive a recurring ACH or direct deposit.

- Available on personal accounts only. If you do not meet the requirements per statement cycle, you will earn an APY of 0.25%, your account will still function as a Free Checking account, however, it will not receive ATM refunds for that time period. ATM refunds apply to non-DBK ATM Fees and other non-proprietary ATM surcharges. There is a fee for the Occasional Overdraft Privilege Service (OOPS) associated with this account.

Free Reward Checking through First Security Bank and Trust

First Security Bank and Trust is offering a “free reward checking” account through their affiliate website (conveniently named freerewardchecking.com). With this account you can earn 4.01% APY on all balances up to $25,000 and 1.00% APY on all balances above $25k. This account is available to anyone nationwide, however the interest rate is a variable one and can change at anytime without notice.

I’ve seen a few high interest checking accounts that are offered through small community banks such as First Security Bank and Trust (out of Iowa) but then redirected to an affiliate website when attempting to set up the actual account. If you visit First Security Bank and Trust’s website and try to sign up for the account you will eventually be redirected to freerewardchecking.com, which appears to be owned and operated by the bank (their logo is still present in the upper left).

Features of Reward Checking through First Security Bank and Trust:

(as seen on promo site)

• Free ATM fees
• No monthly service charges
• Free online banking
• Free bill pay
• Free check card
• And 4.01% APY

Requirements:

• 10 check card POS (point of sale) transactions
• one direct deposit or ACH auto debit
• access online banking
• receive electronic statement

Rewards Checking through Peoples Bank of Kankakee County

The Peoples Bank of Kankakee County has a pretty solid interest checking account offer for prospective customers. Although the name of this bank sounds like a small community bank, this account is actually available to customers nationwide. Currently they have a “Electric Blue Rewards Checking Account” which is yielding an APY of 4.01% on all balances up to $50,000 (1.00% APY on balances above $50k). The additional features of this account as well as it’s requirements are pretty typical when compared to other interest checking accounts. These features, terms and conditions are listed below.

Rewards Checking Account Features:

(as seen on promo page)

• 4.01% APY* on balances up to $50,000
• 1.00% APY* on balances over $50,000
• No minimum balance or monthly charge
• Base rate of 0.50% APY* if qualifications are not met
• ATM Fee Refunds Nationwide (up to $25)
  
• Unlimited check writing
• Free ATM/debit card
• Free Online Banking with Bill Pay
• Free e-Statements
• Free TeleBanker access
• Direct Deposit available
• FDIC insured
• $100 to open

Account Requirements:

• 12 debit card purchases
• 1 direct deposit or automatic payment
• Access Internet Banking

Rewards Checking Account through Heritage Bank: 2.24% APY

Heritage Bank out of Minnesota has an interesting “Rewards Checking Account” which is available to everyone nationwide. It’s only yielding an APY of 2.24%, which when compared to other interest checking accounts, isn’t that substantial. However, if you are looking at stashing a large chunk of change in an FDIC insured investment, than this may be the best account for you as there is no maximum balance. Typically these rewards checking accounts, or high interest checking accounts provide lucrative returns but only for a predefined sum of money (ie earn 3% on balances up to $25,000). Heritage Bank’s rewards checking account has no limit.

Rewards Checking Account Features from Heritage Bank:

(as seen on their website)

• Interest paid on balances of $.01 or greater
• Free Visa Check Card
• The Annual Percentage Yield (APY) is in effect as of Thursday, July 02, 2009. Rates may change without notice after account is opened. Fees may reduce earnings
• If you do not meet the requirements during a monthly statement cycle you will earn the Standard APY of 0.10% and will not receive ATM refunds for that time period
• Available to personal accounts only
• Variable interest rate may change daily; Interest calculation is based on average available (collected) balances and is compounded monthly
• If you close your account before interest is credited, you will not receive the accrued interest
• Overdrafts and NSF: $27 per item
• $25 fee if account is closed within 90 days of opening

Requirements to earn advertised interest rate:

• Make 10 or more check card transactions (excluding ATM transactions)
• Have at least one direct deposit or automatic payment (ACH)
• Receive a monthly E-Statement