The First Nebraska Bank pushes for their Real Checking account, a high yield checking account that has the following interest rates:

5.00% APY for deposits through $25,000
Funds above the $25K tier earns 0.50% APY
Base rate is at 0.25%
Reimburses ATM fees incurred anywhere in the U.S. of as much as $25 per cycle

This best checking account from First Nebraska requires for the following monthly requirements:

Account holder must complete 10 purchases using the Visa check card
Set up an automatic payment or a direct deposit
Receive e-statements

The bank only asks for an initial deposit of $25 to open the reward checking account. They do not collect any service fees and do not impose any requirements on minimum balance.

According to the customer service representative of the bank, consumers can open multiple accounts but you have to meet the requirements for each of the account to maximize the high interest rates.

You can start an application using the online form at the bank’s micro website. Interested individuals are still required to complete the process by visiting a branch.

First Nebraska bank operates offices in Stanton, Valley, Emerson, Decatur, Columbus, Brainard, and Arcadia.

The bank receives favorable financial ratings for soundness and safety. Bankrate.com stamped its performance with 5 stars based on their March 2009 data. BauerFinancial issued 4 stars using their June 2009 data during the evaluation. First Nebraska Bank is covered by the FDIC through certificate number 12248.