TrustBank is offering a checking account that currently has one of the highest base interest rates on a checking account promotion. The checking account is available online or through a local bank branch and is referred to as the iChecking account by TrustBank. The only drawback to this checking account promotion is that the high yield is earned on balances of $1,000.00 or less.
With this checking account promotion from TrustBank, account holders will earn a 7.00% APY (Annual Percentage Yield) on balances up to $1,000.00 and 0.20% APY on checking account balances over $1,000.00.
The checking account promotion requires that the account holder meet certain conditions to earn the extraordinarily high interest rate. The conditions to earn the high rate for the checking account promotion include that the account holder make the following transactions for each monthly statement cycle: one direct deposit into the checking account, use of bill pays or automatic payments through the account, conduct 10 debit card purchases, receive E-Statements, and access online banking at least one time. If any of the conditions are not met for each monthly statement cycle with the checking account, the interest rate earned on the account drops to 0.02% for the entire account balance.
The TrustBank iChecking account is a free checking account available online for consumers regardless of whether they are in the geographic market area of the one the bank’s branches. The bank checking account has no monthly maintenance fees and no minimum balance requirements.
This checking account promotion has definite limitations due to the maximum balance in the account that earns the high yield however; this may be an ideal reward checking account for consumers that maintain a modest balance in their checking account especially when compared to the average interest rate paid on bank checking accounts.
Along with the checking account promotion, TrustBank offers other checking accounts, savings accounts, money market accounts, bank IRAs, bank CDs, auto loans, mortgage loans, investment services and wealth management services.
Consumers may apply for this checking account promotion online or by visiting one of TrustBank branches.
TrustBank is an Illinois based bank with bank branches in Illinois and Arizona. TrustBank is headquartered in Olney, Illinois. The bank branches directly serve the markets of Southeastern Illinois with bank branches in Olney, Illinois and Cisne, Illinois. The bank also serves Maricopa County in Arizona via a branch office located in Tempe, AZ. In addition to the traditional bank branch operations, TrustBank offers banking by phone and via the internet to reach customers beyond the physical branch locations.
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Tags: checking account, checking account promotion, free checking account, iChecking account, online banking, reward checking account, TrustBank
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