BECU in Tukwila, Washington, offers Advantage Checking, with one of the highest annual percentage yields, but that rate can be earned only on the first $500 of an account holder’s balance. 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.

BECU
Notes: Advantage Checking Account (must open a Maximum Advantage savings account to become a member of the credit union): Available to Washington state residents, current or former Boeing employees (state specific) or family members. *One direct deposit, debit transaction, online bill pay or transfer of funds between accounts is required per month to qualify for rate. Balance above $500 yields 0.05%, if requirements are met. ATM refund: N/A.
Location Tukwila, WA
Is it offered nationwide? No
APY % 4.07%
Default APY 0.05%
Number of monthly debit transactions required 1*
Is bill pay or automatic withdrawal required? Yes*
Direct deposit required? Yes*
E-statements required? Yes
Balance cap $500
APY above cap 0.05%

*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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