5.51% APY for Bank Iowa in Altoona Best Reward Checking Account
Bank Iowa, Altoona pushes for their best reward checking account program that gains 5.51% APY for balances through $25000 and 2.5% for amounts above this cap.
The account also refunds as much as $3 per ATM transaction if the account holder meets the conditions on a monthly basis. This requires opting in for electronic statements, completion of at least 10 transactions using the signature based debit card, and posting a direct deposit or ACH automatic debit. The rate dips to 0.10% if these are not met.
The initial deposit required to open the checking account is just $100. The account does not impose any monthly balance requirements nor does it ask for any monthly fees.
The program is being offered in the bank’s local market of Altoona, Newton, West Des Mones, and Johnston all in Iowa.
The bank operates under the wings of the financial institution Bank Iowa Corporation. The services of the corporation are offered through 25 community banks across the states. Bank decisions are made on the local level.
Bank of Iowa Altoona is covered by the FDIC through certificate # 33927.
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