Marlborough Co-Operative Bank with 4.00% APY Reward Checking
The Marlborough Co-Operative Bank pushes for their Free Advantage Checking which gives consumers a yield of 4.00% APY for balances through $40000. The account requires a low $25 minimum deposit to open and does not impose any monthly maintaining balance.
The rewards rates are applicable if the account holder meets the requirements of at least 10 debit card transactions, opt for electronic statements, and make at least one direct ACH deposit or automated transaction.
The rate drops to 0.15% if the requirements are not met. ATM refunds of up to $20 will also not be issued during the statement cycle. Amounts above $40000 earns a 0.35% APY.
The update yield for November dropped from the April offering of 5.51% APY for balances up to $40000 and 0.35% APY for amounts above the cap.
The bank is FDIC insured since 1986 with certificate # 26510. It is a division of the Butler Bank. To open the free advantage checking, consumers may visit the bank’s branches spread over Marlborough in Massachusetts.
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