High Interest Checking Accounts -- Earning More

High interest checking accounts are a phenomenal way for your money to earn great interest while having immediate access to your money.  My grandfather originally turned us on to this concept and I will admit that I was a skeptic.  I wondered, how they could offer such great rates?  Here are the stipulations of a few of the banks here in town:

Lake City Bank

Rewards

• 3.04% APY paid on the portion of the balance below $50,000
• 0.51% APY paid on the portion of the balance at or above $50,000
• Reimburses up to $25.00 in ATM fees nationwide per month (this is posted at the end of the month, with your interest payment, as long as you have met all of the qualifications)

 Qualifications to Receive Rewards (to be done monthly)

• Minimum of 8 debit card purchases (ATM withdrawals don't count)
• 1 Direct Deposit or automatic debit
• Enroll in eStatements and receive statements electronically

If you don't meet all of the qualifications, it is not a problem.  Your money just receives .01% APY.  You become eligible again the next month.  You do not get your ATM reimbursement, though.


Three Rivers Federal Credit Union

Rewards

• 3.51% APY on balances up to $10,000
• 0.61% APY on balances $10,001 and greater
• Reimburses ATM fees up to $12.00 ($3.00 per transaction)

Qualifications to Receive Rewards (to be done monthly)

• 10 or more debit card purchases
• Receive 3Rivers eStatements
• Have a direct deposit, automatic withdrawal, or online bill pay
• View your account online at least once per month

As with Lake City, if you don't meet the qualifications each month, you earn 0.01% APY and you can start over the next month.  Also, your ATM transaction fees will not be reimbursed. 

Midwest America Federal Credit Union

Rewards

• 2.51% APY on balances up to $15,000
• 0.76% APY on balances $15,001 and greater
• Reimburses ATM fees up to $25.00 per month

Qualifications to Receive Rewards (to be done monthly)

• 10 or more debit card purchases
• Sign up for and receive monthly eStatements
• Have a direct deposit or automatic withdrawal each month

As with the other two establishments, if you don't meet the qualifications each month, you earn 0.11% APY and you can start over the next month.  Also, your ATM transaction fees will not be reimbursed. 

These are the three that I know of in Fort Wayne.  They really are a great way to put your savings to work while having the money readily available.
If any were missed, please leave a comment, thanks!