Consumers Credit Union in Waukegan, Illinois, offers Free Rewards Checking, with a high annual percentage yield and a low 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: Free Rewards Checking: Available nationally. Tiered APY 2: 3.59% on balances up to $15,000 — Must meet the requirements to earn 3.09% APY and complete $500 in credit union VISA-purchase transactions, regardless of the number of purchases. Tiered APY 3: 4.59% on balances up to $20,000 — Must meet the requirements to earn 3.09% APY and spend at least $1,000 in credit union VISA-purchase transactions, regardless of the number of purchases. *At least 12 debit transactions must be signature-based, not PIN. *One direct deposit, automatic debit or bill pay is required. Must access online banking once a month and enroll in e-statements. Balances of $10,000.01 to $24,999.99 yield 0.2%; $25,000 and above yield 0.1%, if requirements are met. ATM refund: Unlimited, if requirements are met.|
|Is it offered nationwide?||Yes|
|Number of monthly debit transactions required||12*|
|Is bill pay or automatic withdrawal required?||Yes*|
|Direct deposit required?||Yes*|
|APY above cap||0.2%|
*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.