2014 high-yield checking: BankGloucester
Massachusetts-based BankGloucester's Reward Checking has a midrange annual percentage yield, but account holders can earn it on a higher-than-average account balance. Bankrate's 2014 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.
Location: Gloucester, MA
|Nationally offered? Y*||APY: 1.51%||APY if conditions not met: 0.10%||Monthly debit transactions required: 10||Bill pay or automatic withdrawal required? Y*||Direct deposit required? Y*||Balance cap: $25,000|
- Reward Checking: Available nationally but needs to be opened in branch.
- Either one direct deposit or automatic payment is required per month.
- Balance above $25,000 yields 0.25%, if requirements are met.
- ATM refund: Unlimited, if requirements are met.
- For ATM fees over $4.99, receipts must be handed in at the branch for reimbursement.
*See notes section for more details.
Bankrate.com canvassed banks, thrifts and credit unions March 10-13 and reports data on 56 high-yield checking accounts offered by 54 institutions.