Venture Bank Direct kicks off its best reward checking account deal by giving it a 3.5% APY. They coined it Wise-Choice Checking made available nationwide.

The APY is not top tier based on the current market status but still comes very useful. The 3.5% APY applies through balances of $25K with yields of 1% for amounts above the cap.

The rate is a bit low compared to the going on rates but this might have been issued based on the anticipated fall of interest rates.

It also refunds ATM fees if the account holder opts for electronic statements, makes a direct deposit or auto-debit, and completes 10 purchases using the Visa check card on a monthly basis. The rate drops to 0.25% if these conditions are not met.

The account only requires $100 as initial deposit. It does not impose any monthly fees nor does it require any minimum balance. Checks are optional for the account.

Consumers need not worry about any hard credit pulls when opening this reward checking account. This was confirmed by bank representatives.

Venture Bank Direct is under the umbrella of Venture Bank headquartered in Washington State. The bank has a weak 1-star rating from both BauerFinancial and bankrate.com. Be wise and stay within the limits of the FDIC coverage.

Venture Bank has FDIC insurance since 1979 with certificate # 22868.