A bank in Oklahoma, Community State Bank offers Smart Rewards Checking with a high interest rate of 5.05% APY. This best reward checking account can be opened with an initial deposit of at least $150. The bank does not impose any monthly fees nor collects monthly service fees. Consumers can also set up multiple accounts but the earnings will depend if the requirements are met by each account.

The best checking account has the best interest rate at 5.05% APY for balances through $25000. Amounts above the set cap earns 1.01% APY. The rate drops to the base earning of 0.50% APY in case the monthly requirements are not met. The account also gives back ATM fees incurred nationwide without any limit.

If you want to enjoy the top rate of this reward checking account you must make at least 10 purchases using the check card issued by the bank. You also need to set up a direct deposit or make an automatic payment per month. The bank also requires account holders to use online banking and opt for electronic statements.

Community State Bank has a micro website which can be used to apply for the account. It appears that this checking account can only be opened by residents of Oklahoma.

The bank is a small financial institution which only has 5 branches spread across the counties of Le Flore and Latimer in Oklahoma. Community State Bank is registered with the FDIC since 1970 through certificate # 20279.