Phoenix-based Arizona Bank & Trust offers its Cash Rewards Checking with an annual percentage yield of 1.51%, but the account is available only to Arizona residents. Bankrate’s 2016 High-Yield Checking Survey breaks down the returns you can get with each account and the hoops you’ll have to jump through to get them.

Arizona Bank & Trust
Notes: Cash Rewards Checking: Available to Arizona residents only. Minimum opening deposit: $25. *Debit transactions must be signature-based. E-statements required with a valid email address. Monthly Fee: E-statements enrollment is required to avoid $2.50 paper statement fee. Balance over $20,000 yields 0.11%, if requirements are met. ATM fee refund: Up to $20 per statement cycle, if requirements are met.
Location Phoenix
Is it offered nationwide? No
APY % 1.51%
Default APY 0.01%
Number of monthly debit transactions required 15*
Is bill pay or automatic withdrawal required? No
Direct deposit required? Yes
E-statements required? Yes
Balance cap $20,000
APY above cap 0.11%

*See notes section for more details.

Bankrate.com canvassed banks, thrifts and credit unions Feb. 16-22, 2016, and displays data on 56 high-yield checking accounts.

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