Adams Bank & Trust offers a very attractive money in the bank deal through their SuperSmart e-checking program. This best reward checking account has the following interest rates:

• 4.00% APY for balances through $35,000 which is a guaranteed rate until May 31, 2010
• 2.00% APY for funds above $35K
• 0.20% base interest rate in case you don’t meet the monthly requirements
• Up to $10 of ATM fee reimbursement every month

The best interest rates of this reward checking account can be enjoyed if you meet the following monthly requirements:

• 25 signature or PIN based purchases using the debit card
• One direct deposit or payment via ACH
• Sign up for e-statements

This checking account requires an opening deposit of at least $100. There is a $7 membership fee every month you don’t meet the requirements.

If you think the 25 debit card purchases is too much for you, the bank can offer the Smart e-Checking for you which has easier monthly requirements but of course lower interest rates:

• 2.00% APY for deposits up to $25,000
• 1.00% APY for portions of funds above $25K
• 0.15% base interest rate if the requirements are not met
• Refund of ATM fees up to $10 per cycle

The monthly requirements for this checking account are:

• 15 purchases using the debit card(signature based or PIN based)
• 1 direct payment or direct deposit
• Opt for electronic statements

This Smart e-Checking does not have a monthly membership fee in case you do not suffice the requirements of the account.

It seems that branch visit is necessary to open an account. They have offices in Colorado and Nebraska.

The requirement on the heavy use of a debit card is two faced. Bad side of it is that it is very rare for reward checking programs like this to ask for more than 10 debit card transactions every cycle. It is also not quite usual to charge a monthly fee if the monthly requirements are not met by the account holder. On the good note, this strict requirements will push the account holder to use his checking account more often and help the bank keep the attractive interest rates for a longer period of time.

The ratings of this bank are impressive. Both bankrate.com and BauerFinancial issued 4 stars for soundness and safety. The bank is covered by the FDIC through certificate number 18489.