Massachusetts-based BankGloucester’s Reward Checking has an annual percentage yield of 1.51% with a high 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: Reward Checking: Available to Massachusetts residents only and must be opened at a branch. *Either 1 direct deposit or automatic payment is required per month. Balance above $25,000 yields 0.25%, if requirements are met. ATM fee refund: Unlimited, if requirements are met. For ATM fees over $4.99, receipts must be handed into the branch for reimbursement.|
|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.