Northpointe Bank in Grand Rapids, Michigan, offers a solid 5% annual percentage yield on its Ultimate Account, but it has a low $5,000 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.

Northpointe Bank
Notes: Ultimate Account: Available nationally. *Direct deposit or automatic payment of $100 or more per month is required. Balance above $5,000 yields 0.1%, if requirements are met. ATM fee refund: Up to $10 per month, if requirements are met.
Location Grand Rapids, MI
Is it offered nationwide? Yes
APY % 5%
Default APY 0.05%
Number of monthly debit transactions required 15
Is bill pay or automatic withdrawal required? Yes*
Direct deposit required? Yes*
E-statements required? Yes
Balance cap $5,000
APY above cap 0.1%

*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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