A New Rewards Checking Account
Since Coulee Bank dropped their rewards checking rate from 5% to 4% I have been looking for another bank. There are several banks that still offer 5% on their rewards checking accounts but there is one difficulty — they all take local customers only. This didn’t used to be but gradually many banks have withdrawn from the national market. Hence I decided on a bank that is still recruiting customers nationwide (except California). However, see Updates below.
Now First Arkansas Bank & Trust offers only 4.4% (since reduced) but with one redeeming quality — the rate applies up to $50,000. For this you only need to complete the usual ten point of sale debit card transactions per month. Also the one direct deposit, ACH debit, or online bill payment per month. You have to agree to receive E-statements and sign into your online banking account once a month.