BTH Bank in Quitman, Texas, offers a Kasasa Cash account with a high annual percentage yield, but that rate can be earned only on the first $7,000 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.
|Notes: Kasasa Cash: Available only to Texas residents. Minimum opening deposit: $50. *Either 1 direct deposit or automatic payment is required per month. Balance above $7,000 yields 0.05%, if requirements are met. ATM refund: Up to $25 per month, up to $5 per transaction, if requirements are met.|
|Is it offered nationwide?||No|
|Number of monthly debit transactions required||10|
|Is bill pay or automatic withdrawal required?||Yes*|
|Direct deposit required?||Yes*|
|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.