When you think about earning high interest rates on your money, you usually think of accounts like stocks and bonds, or even CDs and money market accounts. But, with the high yield checking account being offered from Community Bank of Pleasant Hill, you can consider your checking account as an interest earning account.
It is always smart to know who exactly you are investing your money with. Community Bank of Pleasant Hill was started by business men, chairmen and bankers in 2006 as a locally owned, community bank. This bank is based out of the state of Missouri. They work to provide a bank that is a safe place to keep your money, and work to provide hassle-free and friendly solutions to your financial needs. Community Bank of Pleasant Hill is FDIC insured, as well as a member of the Federal Reserve Bank.
The Checking Account
Community Bank of Pleasant Hill offers a high yield checking account, which is currently providing 2.01% APY on your account balance. This allows your checking account to act as an investment you are actually making money off. Community Bank of Pleasant Hill’s high yield checking account is free. There are no hidden fees or monthly charges. Plus, your Visa debit card, access to internet banking, and online bill pay are all free with the checking account. The 2.01% interest rate applies to any amount above $0.01, and up to $24,999.99. Checking account balances that are higher than $25,000 only earn 0.50% APY.
In order to earn the bonus interest rate on your account balance, you must meet these requirements each monthly cycle. First, you must make at least ten transactions with your debit card. Those transactions must be posted and cleared to your account each cycle. ATM transactions do not count toward the ten transactions. You must also have one direct deposit or automatic payment that posts to your account and clears each cycle. The good thing is that if you don’t meet the qualifications one monthly cycle, you can trying again the next. Months that you don’t meet the requirements, you will receive 0.10% APY on your money, but if you meet the requirements the next month, the APY goes up to 2.01% again. Be aware that some transactions may take a couple of days to post to your account, so don’t wait until the end of the monthly cycle to get all ten transactions in.
This high yield checking account requires an opening deposit of $100. After that initial amount, there is no amount required to keep in the account. Plus, as previously mentioned, any amount over one penny earns the high interest rates, if the requirements are met. The rewards checking account is only available for personal accounts, and only one per customer is allowed.
If you are interested in earning money off your checking account balance, the high yield rewards checking account through Community Bank of Pleasant Hill is a great option. Applying for the account is easy and can be done online, through their official website. The application process only takes a few short minutes to start earning more off your checking account balance.