Reward Checking Account in Olmsted National Bank in MN Gives 5.01% Yield
The Olmsted National Bank pushes for a reward checking account that gives a yield of 5.01% for balances of up to $25K, and 1.01% for balances above this cap.
It also refunds ATM fees of up to $25 every cycle if the account holder makes at least 12 purchases using the debit card and opts to receive electronic statements. The rate drops to 0.15% of the conditions are not met.
A $25 initial deposit is required to open an account. However the account does not impose a minimum monthly balance and service fees. Account holders may open multiple accounts and enjoy the high yield as long as qualifications are met.
This offering from Olmsted does not require a direct deposit or ACH funding.
Interested individuals may accomplish an application online. A bank representative will contact them to complete the process. The rest of the application needs to be completed by visiting a branch.
The bank has branches in Rochester, Minnesota. It is FDIC insured with certificate # 34171.
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