Northpointe Bank in Grand Rapids, Michigan, offers a solid 5% annual percentage yield on its Ultimate Account, but it has a low $5,000 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: Ultimate Account: Available nationally. *Direct deposit or automatic payment of $100 or more per month is required. Balance above $5,000 yields 0.1%, if requirements are met. ATM fee refund: Up to $10 per month, if requirements are met.|
|Location||Grand Rapids, MI|
|Is it offered nationwide?||Yes|
|Number of monthly debit transactions required||15|
|Is bill pay or automatic withdrawal required?||Yes*|
|Direct deposit required?||Yes*|
|APY above cap||0.1%|
*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.