Royal Banks of Missouri offers 1.85% annual percentage yield on its Majestic Checking, but it’s available only in Missouri. 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: Majestic Checking: Available in Missouri. *1 direct deposit or automatic payment per month is required. Debit transactions must be at least $5 and be signature-based. ATM fee refund: Up to $25 per month, if requirements are met. Balance of $25,000 or more yields 0.4%, if requirements are met.|
|Is it offered nationwide?||No|
|Number of monthly debit transactions required||12*|
|Is bill pay or automatic withdrawal required?||Yes*|
|Direct deposit required?||Yes*|
|APY above cap||0.4%|
*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.