The Bank of Fayetteville in Arkansas offers only 1% annual percentage yield on its Smart Checking and it is open only to residents of certain counties in Oklahoma and Arkansas. 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: Smart Checking: Available to residents of Delaware and Adair counties in Oklahoma; and Benton, Washington, Carol and Madison counties in Arkansas. *1 direct deposit or automatic payment per month is required. E-statements required. ATM fee refund: Up to $25 per month, if requirements are met. Balance above $15,000 yields 0.1%, if requirements are met.|
|Is it offered nationwide?||No|
|Number of monthly debit transactions required||10|
|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.