4.00% Reward Checking Account at The First State Bank in Texas - Local Only read and submit comments for this post

The First State Bank is offering a high-yield reward checking account called Diamond Checking. The account offers the following rates and features if certain monthly requirements are met:

• 4.00% APY on balances up to $25,000
• 1.01% APY on portion of balance over $25,000
• 0.25% base rate if qualifications are not met
• ATM fees refunded nationwide (up to $10 monthly)

The monthly requirements include:

• 12 debit card purchases
• One direct deposit or ACH auto debit
• Receive e-statements and maintain a valid email address

Additional features of the account regardless of the monthly requirements include:

• $100 minimum initial deposit
• No minimum balance requirement
• No monthly service charge
• First order of wallet checks is free

There's an online application link in the bank's Diamond Checking webpage.

Branches are located in the Southeast Texas cities of Louise, Wharton, El Campo Ganado, Bay City, Blessing and Sweeny.

The bank's ratings for safety and soundness are strong: 4 stars (excellent) at BauerFinancial and 5 stars (superior) at Bankrate.com. Both ratings are based on 6/30/09 financial data. The bank has been a FDIC member since 1956 (FDIC Certificate # 17588).

Other Reward Checking Accounts

There are two other reward checking accounts with rates over 4% as of 11/08/09 that are available online for Texas residents. One is at First-Lockhart National Bank which offers 4.51% APY for up to $25K (see post) and the other is Classic Bank which offers a 4.01% APY for balances up to $25K (see post).

To find more accounts that can be opened without a branch visit, refer to my reward checking nationwide list.

To find reward checking accounts in other areas of the nation or to learn more about these accounts, please refer to my High Yield Checking website.