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What are Reward Checking Accounts?
These type of checking accounts are becoming a very popular offering from online banks. A Reward Checking account typically offers a premium rate for customer who meet monthly requirements which may include one or more of the following: (1) monthly direct deposit, (2) monthly online bill payment, (3) receiving electronic statements instead of paper statements, and (4) check card or debit card activity.
Reward checking accounts can pay rates as 6.00% if the monthly requirements are met. The high yields on reward checking account may be attractive to online banking customer who maintain a balance in their account, especially when you consider the national average on bank checking accounts is below 1%. Most banks will limit the balance amount for which the top yield will apply and set a second-tier level yield for higher deposit amounts. Money-Rates.com tracks the jumbo yields on reward checking account which is the yield if a customer held $100,000 in a reward checking account and meet the monthly requirements. 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 |
| Crossroads Bank | Illinois | 6.10% | up to $30,000 | 20 VISA debit card transactions excluding ATM transactions, receive electronic statements, |
| TriStone Community Bank | North Carolina | 6.05% | up to $25,000 | 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 | 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 |
| 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 |
| 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 |
| 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 |
| The First National Bank of Wynne | Arkansas | 6.01% | up to $25,000 | 10 VISA check card transactions, electronic statements, one direct deposit or ACH auto debit |
| Summit Bank | Colorado | 6.01% | up to $20,000 | 12 signature-based debit card transactions, electronic statements, one direct deposit or ACH auto debit |
| 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 |
| West Bend Savings Bank | Wisconsin | 6.01% | up to $50,000 | 10 debit card transactions, electronic statements, at least one direct deposit |
| Citizens Bank Minnesota | Minnesota | 6.01% | up to $25,000 | 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 | 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 | 12 signature-based debit card transactions, at least one direct deposit or ACH auto debit |
| NewPortFed | Rhode Island | 5.51% | up to $50,000 | 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 | 8 check card transactions, one direct deposit or auto ACH debit, electronic statements |
| New Frontier Bank | Colorado | 5.26% | up to $50,000 | 12 debit card transactions, electronic statements, at least one direct deposit or automatic payment, access online banking at least once |
| 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 |
| MidwestOne Bank | Iowa | 5.25% | up to $25,000 | 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 | 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 | 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 | 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 |
| Noble Bank and Trust | Alabama | 5.01% | up to $25,000 | 12 debit card transactions, electronic statements, at least one direct deposit or auto ACH debit |
| 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 |
| 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 |
| Capital Bank | North Carolina | 5.01% | up to $25,000 | 10 debit card transactions, electronic statements, at least one direct deposit or auto-debit |
| State Bank of Texas | Texas | 5.01% | up to $100,000 | 15 check card transactions, electronic statements, at least one ACH or direct deposit , at least one online bill payment |
| Legacy Bank | Oklahoma | 5.00% | up to $50,000 | 12 check card transactions, $100 opening deposit, electronic statements, sign up for direct deposit |
| 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 |
| Home State Bank | Colorado | 4.56% | up to $25,000 | 10 debit card transactions, electronic statements, at least one direct deposit |
| Rollstone Bank and Trust | Massachusetts | 4.51% | up to $100,000 | 10 debit card transactions, receive electronic statements, direct deposit either payroll, pension, or social security payments |
| Haverhill Bank | Massachusetts | 4.50% | up to $50,000 | 10 debit card transactions, electronic statements, at least one direct deposit or ACH auto debit |
| Bank of Fayetteville | Arkansas | 4.51% | up to $50,000 | 10 VISA check card transactions, electronic statements, at least one direct deposit or ACH payment, sign on to online banking |
| 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 |
| Sutton Bank | Ohio | 4.51% | up to $25,000 | 11 check card transactions, at least one direct deposit or ACH auto-debit, electronic statements |
| Community West Bank | California | 4.50% | up to $25,000 | 10 debit card transactions, electronic statements, at least one direct deposit |
| Butler Bank | Massachusetts | 4.50% | up to $50,000 | 10 debit card transactions, electronic statements, at least one direct deposit or auto ACH debit |
| M&F Bank | Mississippi, Alabama, Florida, Tennessee | 4.50% | up to $25,000 | 12 debit card transactions, electronic statements, at least one direct deposit or auto ACH debit, log-in to online banking at least once |
| 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 |
| 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 |
| North Middlesex Savings Bank | Massachusetts | 4.08% | up to $50,000 | 12 debit card transactions, electronic statements, at least one direct deposit |
| Bank of Idaho | Idaho | 4.01% | up to $25,000 | 10 debit card transactions, electronic statements, at least one direct deposit or ACH auto debit, Idaho residents only |
| State Bank of Toledo | Ohio | 4.01% | up to $70,000 | 10 debit card transactions, electronic statements, at least one direct deposit |
| Wilson Bank and Trust | Tennessee | 4.00% | up to $50,000 | 10 check card transactions, electronic statements, at least one direct deposit or ACH auto debit |
| First National Bank | Nebraska | 4.00% | up to $25,000 | 15 VISA check card transactions, electronic statements, ACH or direct deposit |
| 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
Banks can update their reward checking rates and terms here
