Posted by Chuck on August 21, 2019
High-Yield APY Accounts

Published on August 21st, 2019 | by Chuck


[IL, IN, MI] Centier Bank 4.00% Savings on up to $50,000 With 50 Debit Card Purchases

Offer at a glance

  • Interest rate: 4.00%
  • Maximum balance: $50,000
  • Availability: Available in Indiana, Illinois, Michigan (source); available online or in branch
  • Direct deposit required: No
  • Additional requirements: 50 debit card purchases
  • Hard/soft pull: Unknown 
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None  on the savings; $2 on the checking (avoidable with e-statements)
  • Early account termination fee: Unknown
  • Expiration date: None mentioned

The Offer

Direct Link to offer

  • Centier Bank offers their Savings Connect account with 4.00% APY on balances up to $50,000 providing that you open a checking account as well and have 50 debit card transactions on the account.

The Fine Print

  • APY = Annual percentage yield as of 7/1/19.
  • If 50 or more qualified debit card transactions post per statement cycle: $0-$50,0000.00 Earn 4.00% APY; $50,000.01 and greater Earn 0.25% APY; If 18 -49 qualified debit card transactions post per statement cycle: $0-$50,0000.00 Earn 2.00% APY; $50,000.01 and greater Earn 0.25% APY; Less than 18 qualified debit card transactions results in entire savings balance earning 0.01% APY.

Our Verdict

Obviously the 50 transactions is a tall order, but for someone who has lots of small transactions, e.g. subway, vending machine, convenience store, Amazon reloads, etc, it’s a nice return since the 4% rate is valid on a full $50,000. Comparing this to a 2% account (see Best High Yield Savings Rates here), you’ll earn an extra $1,000 per year. That might be worth the hassle of the 50 transactions per month.

Another similar option, available nationwide, is the Orion Federal Credit Union Premium Checking which gives 4% APY on balances up to $30,000. That one requires an ACH $500 monthly and only 8 debit transactions.

Hat tip to reader DP

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HA, this stuff makes me wish I had that much to pack away into savings. One day…


pay your phone bills or utility bills in very small amount, say between $0.01 and $5 each time if it allows. Then 50 debit transactions will not be too hard.


Some of those utility bills have fees that go along with each transaction. I’m sure that if too many people do 50 debit transactions like that, they’ll start putting minimums on each one.


Bills utility wise don’t count as purchases @ Tab Bank.


That just seems stupid, you would need to basically use your debit card for all of your spending and be using it 1.5+ times per day to hit that (naturally). I can understand 10 or 20 but 50 is crazy

adam d
adam d

use it to pump $1 of gas. once a week, 3 gas stations, 4 times.


I think they are trying to complete with a local Indiana Credit Union named Interra. They have a deal of 50 debits gets you 5% interest, up to $10,000. Here’s the link;


Yes, very similar. Looks like Interra has tiered interest also. 20 debits to get 2%, and 50 debits to get 5%.


IMHO this is worth doing if you qualify. The interest is essentially cash back on roids if you use debit for day to day purchases of consumables.

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