Coulee Bank, a small Wisconsin bank founded in 1961, is currently offering a rewards checking account that pays 3.33% APY, and it is available to customers on a national level. This rewards account is free and has no monthly maintenance fees or any minimum balance requirement, even during months you don’t meet the requirements for the rewards APR.
To get the rewards 3.33% APR, each statement cycle you must make at least 10 debit card point-of-sale transactions, receive your statement electronically, and receive one direct deposit or ACH Auto Debit (the transaction must be greater than $1). Balances up to $25,000 are eligible to receive the rewards interest rate, and balances over $25,000 will receive a .51% interest rate. In addition, for those months you meet the rewards requirements, you will also be credited up to $20 for ATM fee refunds. The qualification cycle begins on the last business day of the month, and ends on the second to last business day of the month. If you don’t meet the rewards requirements during a particular cycle, your account balance will earn a standard 0.10% APY that cycle period instead. Although there is no minimum balance requirement, the bank does require a minimum initial deposit of $50 to open an account.
The interest rate on this rewards account pays more than many current CDs, plus you get the added benefit of immediate access to your money without any penalty, if you need it.
For the best information on rewards checking, click here.
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