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Provident Bank 4.51% APY Checking Account – Nationwide

May 22, 2009 By

Provident Community Bank, member of FDIC, is offering 4.51% APY for the Provident Dream Checking on balances up to $50,000.  A minimum of $100 is required to open an account.  Provident Dream Checking is a Rewards Checking Account in that you have to perform certain financial task every month like using debit cards 10 times per month.  Offer available nationwide – Apply Here.

provident-community-bank

 

To receive the high Annual Percentage Yield, you must perform the following requirements each cycle:

  • Make 10 Visa debit card transactions
  • Set up one Direct Deposit or ACH Auto Debit
  • Enroll and receive Electronic Statements (valid e-mail address is required)
  • Access online banking
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What is Rewards Checking?

May 13, 2009 By

Rewards Checking is a product usually offered by local banks and credit unions that requires customers to do several financial activities with their checking account in return for extraordinary saving rates.  To compete against major/national banks with “free checkings” and other amendities like abudance of ATM machines, local banks and credit unions started Rewards Checking as a way to attract more customers.

 

What are the requirements of Rewards Checking?

It usually differs from bank to bank but usually it entitles:

  1. Making 10-15 “signed” debit bank card transactions per month
  2. Receive electronic statements / paperless statements
  3. Log into your account at least once a month
  4. Make one or two online bill payments or qualifying direct deposits

Usually the high rates on Rewards Checking only applies the first $25,000 in deposit.

The benefits of Rewards Checking

  1. Extremely high yield for the deposit.  Usually over 5.00% APY.  The national average for national banks are under 1.00% APY
  2. Free ATM usuage or refund
  3. Usually offer better customer service than national banks
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