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Best High Yield Interest Rewards Checking Accounts

Find the highest yield interest rewards checking rates available.

What is a High Yield Interest Rewards Checking Account?

High yield rewards checking accounts are becoming increasingly popular with smaller banks and credit unions. These checking accounts offer significantly higher yields if you fulfill certain monthly requirements. These requirements typically include:

  • Around 10 debit card transactions (non ATM). There are typically no dollar requirements per debit card purchase.
  • Direct deposit or auto debit. Any ACH transfer often satisfies this requirement.
  • Electronic statements - They won't mail you a paper statement.

What's the catch?

If you fail to meet these requirements, you won't earn the high yield for that month; instead, you'll default to the base interest rate which is typically under %1. As a result, these high interest checking accounts do require a bit of micromanagement to make sure that you get the yield every month.The other catch for these rewards checking accounts is that there usually is a top limit to the amount you can deposit. Most banks set this limit at $25,000 - any additional deposits over $25,000 will earn a much lower yield.

One other bonus that these rewards accounts offer is refunds of ATM fees charged when you use another bank's ATM. You can usually get up to $25 per month refunded back into your account at the end of each statement cycle.

Given the requirements of these accounts, it is important to make sure you are on top of things. Missing out on a month of interest prove to be quite costly. The high yield interest checking account isn't for everyone, but if utilized correctly it can be a great way to maintain liquidity while earning a top rate of return on your money.

Bank of America $50 Checking Account Bonus

Bank of America’s done a 180 on their checking account policy – not only are they now providing free checking accounts, but on top of that they are offering a $50 checking account bonus for signing up for a new checking account. In order to get the $50 bonus, you have to sign up for [...]

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FirstBank Checking Giveaway – Kindle, iPod Touch, or Garmin

For residents of Colorado, Arizona, or California, FirstBank is has a checking promotion where you can get  get an Amazon Kindle, iPod touch, or Garmin GPS for opening a FirstBank Free Checking account. Just open an account, then set up direct deposit or make 3 bill payments to get this checking bonus. Offer valid only for [...]

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Chase Business Checking $100 Bonus Valid Through 5/27/11

Chase is currently offering a $100 bonus for opening a Business Checking account. To get the bonus you need to visit the promotional page and get a $100 coupon to take to your nearest Chase bank branch. Offer valid thru May 27, 2011. A qualifying Chase business checking account is required (please talk to a [...]

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Chase $125 Checking Bonus

Chase’s checking bonus is back. This time it’s a $125 bonus for opening a Chase Total checking account. You can find the link to the Chase checking bonus offer here. The offer ends on 3/31/11, but in the past the offer has typically ended before the actual end date. So if you’re interested in this [...]

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KeyBank $100 Checking Account Bonus

Key Bank currently has a $100 bonus for opening a checking account. The promotion expires on March 25, 2011. To get the $100 you must complete the following requirements: Open account online using offer code ONCS0211 Making at least 20 payments and/or purchases a month for 3 months Make 3 direct deposits of at least [...]

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ING Direct $175 in Bank Bonuses

ING Direct has the opportunity to earn up to $175 in bonuses for opening various accounts. If you aren’t a current ING Direct savings account member, email me at ratestracker at gmail.com to get a referral link. This will start you off with $25. The ING Direct savings account has a pretty decent savings yield [...]

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Sound Credit Union – $100 Checking Account Bonus (WA)

Sound Credit Union (Washington only) is offering a $100 bonus for opening a checking account and establishing direct deposit of at least $250 per month. In order to qualify for this bonus you need to open a checking account and establish a direct deposit of at least $250 per month. A minimum $250 monthly direct [...]

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Comerica Bank $100 Checking Bonus

Comerica Bank is offering a $100 cash bonus for opening any new personal checking account. The offer is called Welcome Rewards but you must meet quite a few requirements to get the bonus. The requirements include: Be a new Comerica personal checking account customer (All personal checking account types are eligible) Register online for the [...]

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Flushing Bank $150 Checking Bonus

Flushing Bank is offering a bank bonus of up to $150 for opening a Totally Free Checking or Best Rate Checking Account. New checking customers with new money only. The offer is limited to one checking account per household. Minimum deposit to open a new checking account is $100. In order to get the full [...]

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Incredible Bank Checking Account

Open a high-yield checking account at IncredibleBank and you could earn an interest rate of 1.35% annual percentage yield (APY). This checking account features: Balances up to $250,001 earn 1.35% APY Balances above $250,001 earn 0.8% APY Minimum opening deposit of $1,000 Electronic statements Free ATM transactions Free mobile banking and bill pay can be added [...]

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Aurora Bank CD Rates, Savings, Checking Accounts

Aurora Bank currently has competitive certificate of deposit rates available. Checking and savings account are also available, but the rates are not as high. Aurora bank CDs have different yields based on term to maturity and deposit amount. CD rates range from 1.10% APY for a 6 month CD with 1000 minimum deposit to 2.32% [...]

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Liberty National Rewards Checking

Liberty National bank currently has one of the best interest rewards checking accounts with a APY of 4.11% APY. Unfortunately, the 4.11% APY only applies to the first $10,000 invested. Anything over $10,000 earns .50% APY. To qualify for the 4.11% APY, you must meet the following restrictions: Make 12 debit card transactions Make one [...]

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Kasasa Rewards Checking & Savings – First National Bank

First National Bank is offering a reward checking and savings account called Kasasa Cash and Kasasa Saver. The savings and checking accounts feature the following rates if certain monthly requirements are met. Kasasa Cash (Checking) 3.55% APY on balances up to $15,000 0.55% APY on portion of balances over $15,000 0.05% base rate if requirements [...]

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MB Financial Bank – 4.0% APY Interest Checking

MB Financial Bank has a interest bearing rewards checking account yielding 4.0% APY. Generally, these types of accounts offer substantially higher savings rates than the current market warrants providing you (the customer) can comply with the monthly requirements. These requirements typically include enrolling to receive “e-statements” setting up a recurring payment AND making a specified [...]

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ING Direct $50 Cash Bank Bonus

ING Direct has a $50 bank bonus for opening a new ING direct electric orange checking account. In order to get the $50 bonus you have to complete the following: Click on ‘Apply Now.’ Be sure to enter your reference code during the account opening process. The promotional code for this offer is EM443. Activate [...]

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