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.
|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.|
|Is it offered nationwide?||No|
|Number of monthly debit transactions required||12|
|Is bill pay or automatic withdrawal required?||Yes*|
|Direct deposit required?||Yes*|
|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.