Community Bank of Pleasant Hill’s Rewards Checking Account

Another high interest checking account came in to our inbox yesterday – this time from Community Bank of Pleasant Hill, based out of Missouri. As of last December any member of Community Bank of Pleasant Hill can receive 2.51% APY on checking account balances of $0 – $25,000 as long as the given criteria are met. This account, while lucrative, is providing lower returns than most of the rewards checking accounts we’ve covered in the past. If you’re in the market for one of these accounts and are not yet a member of Community Bank, I’d suggest searching through our archives for “best checking accounts in Missouri” to compare this offer to other similar accounts.

Details of Rewards Checking with Community Bank of Pleasant Hill:

• 2.51% Annual Percentage Yield (APY) paid on balances between one penny and $25,000, and 0.50% APY paid on all amounts above $25,000 each monthly cycle the minimum requirements are met.
  
• To qualify for the higher rate the account must be enrolled for E-Statement, have one direct deposit or ACH transaction and have 10 debit card transactions post per cycle.
  
• If you do not meet the requirements per cycle, your account will still function as a free checking account earning 0.10% APY.
  
• Interest rates were effective December 31st, 2009.
  
• They may change the interest rate and APY at any time after the account is opened without notice.
  
• Fees may reduce earnings.
  
• No monthly service charge.
  
• No minimum balance required.
  
• Must deposit a minimum of $100 to open this account.
  
• ATM fees incurred at non-Community Bank machines anywhere in the U.S. will be refunded if the requirements are met.
  
• Rewards Checking is available to personal accounts only and has a limit of one account per customer.

Earn 4.30% APY with Royal Banks of Missouri

After proclaiming Rewards Checking Accounts as the best interest-earning savings-vehicles of 2009, Royal Banks of Missouri comes out with a fantastic checking account offer which they refer to as “Majestic Checking.” With a majestic checking account you will be able to earn 4.30% APY on your balances up to $24,999. The minimum balance required to open is $100.

Like all rewards checking accounts, Royal Banks of Missouri’s Majestic Checking requires a certain amount of monthly commitment from you to earn the advertised rate.

Requirements (per statement cycle) to Receive 4.30% APY

• 10 Point of Sale Debit Card Transactions
• 1 Direct Deposit and/or ACH Debit/Credit
• E-Statement (must provide valid e-mail address)

Added Benefits

• Royal Banks MasterCard Debit Card
• FREE Royal Banks Online Banking and Bill Pay
• No annual fee Royal Bank’s Credit Cards (subject to application and approval)
• access to free ATMs nationwide
• Online Statements (E-Statements)

* If you meet the above requirements each statement cycle, you will be refunded up to $25.00 in Foreign ATM service charges at the end of the current statement cycle.  If you fail to meet the above requirements, all Foreign ATM fees incurred will not be refunded.

** 4.30% APY will be paid on balances up to $24,999.  For balances over $25,000, a rate of 1.40% APY will be applied to the portion of the balance that exceeds $25,000.  In addition, if you fail to meet the above requirements, the interest rate will drop to .15% APY for the current statement cycle.

Missouri money market accounts: Who offers the best rates?

Below are the highest yielding money market account rates serving citizens of the state of Missouri.

If you are strictly after the best rate then you have a variety of options that will provide you with similar yields. The question you need to ask yourself is, “what type of minimum balance can I keep?” Most money market accounts provide a given interest rate based on a certain account balance. The more money you are able to keep in these accounts, the higher the interest rate you will generally receive.

After sorting through dozens of interest rate tables belonging to banks and credit unions serving the state of Missouri, we have found that in most instances you will be able to lock in more competitive rates with l0cal institutions (if you are eligible for membership). Before committing to one of the banks/credit unions listed below, you may want to browse through our archive of money market account interest rates.

Keep in mind, money market rates are time-sensitive in nature, therefor you may want to refer to the date of this article for accuracy.

Top 2 MMA (money market account) rates in Missouri:

(click on the institution for more information)

• Midland States Bank: Chesterfield, MO. Money market account yielding 2.25% APY with a minimum balance of $10,000. The minimum balance required to open this account is only $2,500, however you will receive a lower interest rate for this balance. If your account dips below $1,000 you will incur a $15 monthly service charge. You are entitled to six transfers per month and only 3 of these may be made by check. For each additional transfer you will incur a $5.00 fee. Midland States Bank has 11 locations in Illinois and only 1 in Missouri (Chesterfield). Midland States Bank was established in 1881 as the Private Bank of Eversman, Wood & Engbring by four men from different walks of life. They were brought together by a common desire to create a bank that served the area. Despite an economic depression in the 1870s, these four partners put their faith in the future of the region. Contact: (888) 226-5892
• Legacy Bank and Trust Co: Mountain Grove, MO. “Money market checking account” yielding 2.22% APY with a minimum deposit amount of $2,500. No monthly service charge as long as your balance remains above $2,500 ($10 monthly fee if balance falls below that level). Legacy Bank and Trust Co have four locations throughout Missouri (Plato, Mountain Grove, Sparta, and Rogersville). They first opened in 1907 in Plato, Missouri, in 2003 Ozarks Heritage Financial Group purchased this bank and changed the name to Legacy Bank and Trust. The last three branches were recently opened in 2003, 2005 and 2008. Contact: (417) 926-6138

Both of the above institutions are federally insured by the FDIC. If you live in Missouri and know of a better money market rate offered by your local bank or credit union, please share by leaving a comment.

Missouri Bank offering 5.01% APY Rewards Checking Account

Community Bank of Pleasant Hill, out of Pleasant Hill Missouri, is offering new and existing customers a checking account yielding 5.01% APY on all balances up to $25,000 (0.50% on balances exceeding $25,000).

Some of the additional perks offered with this checking account include: Free ATM use nationwide, online banking and bill pay, no minimum balance required and opening balance of only $100. Absolutely no maintenance fees are associated with this account, plus you get a free visa check card.

Here is what is required of you to receive the advertised interest rate:

• Make at least 10 debit card transactions (Point of Sale) per statement cycle
• Have at least one monthly ACH direct deposit or ACH auto debit
• Receive your statements electronically (NOTE – You will want to pay attention to your e-statements as your interest rate is subject to change.)

You may wish to compare this high yield checking account offer with BankVibe’s top 10 interest checking accounts to receive the best rates.

High Interest Checking through Community Bank of Raymore, Missouri

A high interest checking account is being offered through Community Bank of Raymore, Missouri (just outside of Kansas City, MO). Currently their Rewards Checking Account is offering a lucrative 5.01% APY on all balances up to $25,000 (0.50% APY on balances over $50k), while the national average for checking accounts sit at around 1.0% APY.

As an extra incentive they are providing free ATM use nationwide and free online banking and bill pay.

Interest Checking Account Requirements

1) Minimum of 10 debit card purchases (ATM withdrawals do not count)

2) Receive 1 direct deposit or have 1 ACH automatic debit

3) Receive your bank statement electronically

Unlike some interest checking accounts, this account has relatively easy requirements to meet. Most of us use a debit card with a frequency of at least once every three days (which essentially what is required here). And as far as the direct deposit or ACH automatic debit is concerned, this can be used to make any sort of monthly payment you incur (ie auto payment, credit card payment, insurance, etc). You will also want to pay attention to your regular E-statements as this rate is subject to change.