Offer at a glance
- Interest Rate:Â 4.25%
- Minimum Balance:Â None
- Maximum Balance:
Â$5,000$3,000 - Availability: Possibly LA only. Might be open to anybody by joining ACHIEVE?
- Direct deposit required:Â No
- Additional requirements: 25 debit card transactions
- Hard/soft pull:Â Hard pull
- ChexSystems: Unknown
- Credit card funding:Â Unknown
- Monthly fees:Â None
- Insured:Â NCUA
The Offer
- La Capitol Federal Credit Union offers the All Access Advantage Checking account. This account offers a rate of 4.25% APY on balances up to $5,000 when you meet the following requirements:
- 25 or more non-ATM debit card transactions posted per month
- Balances over $5,000 earn 0.15%. If requirements are not met the full account earns 0.15% APY.
The Fine Print
- Qualification to earn dividends: – 25 or more posted non-ATM debit card transactions per month: – 4.25% APY on balances up to but not exceeding $5,000 – .15% APY on balances exceeding $5,000. If qualification stated is not met: – .15% APY on entire balance. Must meet criteria for opening a checking account.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
This account has no monthly fees to worry about. If you sign up for eStatements you also get ATM fee refunds up to $25 per month. You need to opt out of blazing otherwise you will be charged a $4.95 fee starting in July.
Our Verdict
4.25% APY is on of the better high yield saving accounts currently available and it’s nice that this doesn’t have a direct deposit requirement. It’s also fairly easy to meet the debit card requirements as well. This account is not worth considering if you don’t hit that debit card requirement and it’s not worth having more than $5,000 in funds (even the elite savings account has an APY of only 0.25%). I do think there are better options out there (and we list all of those here) but this is another option for people that need more capacity than they currently have.
