Capital Bank in Coral Gables, Florida, offers Smart Checking, with a below-average annual percentage yield that can be earned only on the first $10,000 of an account holder’s 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.
APY if conditions not met
Monthly debit transactions required
Bill pay or automatic withdrawal required?
Direct deposit required?
Nationally offered? N
APY if conditions not met: 0.05%
Monthly debit transactions required: 10
Bill pay or automatic withdrawal required? Y*
Direct deposit required? Y*
Balance cap: $10,000
Smart Checking: Available only in Florida, North Carolina, South Carolina and Tennessee.
Must open account in a branch.
One direct deposit or draft is required per month.
Minimum to avoid monthly fee: $1,500.
Monthly fee: $12.
Balance above $10,000 yields 0.20%, if qualifications are met.
ATM refund: Up to $20 per statement cycle, if qualifications are met.