The Old Florida National Bank has a high interest reward checking account that offers their best interest rates given that the monthly requirements are satisfied:

• 3.04% APY for deposits through $25,000
• 0.50% APY for portions of the fund above $25,000
• Base interest rate is 0.50% APY
• ATM fees for up to 6 transactions per month are refunded

Account holders must be able to accomplish the following to enjoy the benefits of the high yield checking account:

• Complete 10 purchases using the debit card
• Make at least one direct deposit via ACH
• Use online banking to pay a minimum of one bill

This money in the bank deal does not require any monthly service fees and any minimum balance. The checking account also gives you free access to the online bill payment system. The account also does not pay more than ten paper checks every cycle.

You need to go to one of their branches to open this reward checking account. They have offices spread across Florida particularly in the cities of Orlando, Inverness, Apopka, Winter Park, Altamonte Springs, and Longwood.

The ratings of the bank are fair. Both bankrate.com and BauerFinancial gave the bank 3 stars for its performance, soundness, and safety. These were based on their June 2009 data.

The bank is covered by the FDIC since 1982 with certificate number 24244.