Alabama-based American Bank of Huntsville offers its Kasasa Cash account with an annual percentage yield of 0.99% and a balance cap of $15,000. 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 residents of northern Alabama within bank’s footprint. Minimum opening deposit: $100. *Either 1 direct deposit or automatic payment required per month. Must access online banking once a month and receive e-statements. ATM fee refund: Up to $4.99 per transaction. For ATM fees in excess of $5, the receipt must be presented for reimbursement. Balance above $15,000 yields 0.25%.|
|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||0.25%|
*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.