Massachusetts-based Lee Bank offers a 2.5% annual percentage yield on its Kasasa Cash checking with a middling balance cap. 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.

Lee Bank
Notes: Kasasa Cash: Available to Massachusetts, New York, Vermont, Maine, Connecticut, Rhode Island and New Hampshire residents. *Either 1 direct deposit or automatic payment required per month. Must enroll in online banking and receive e-statements. ATM fee refund: Up to $25 per month, if requirements are met. Balance above $15,000 yields 0.5%, if requirements are met.
Location Lee, MA
Is it offered nationwide? No
APY % 2.5%
Default APY 0.05%
Number of monthly debit transactions required 12
Is bill pay or automatic withdrawal required? Yes*
Direct deposit required? Yes*
E-statements required? Yes
Balance cap $15,000
APY above cap 0.5%

*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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