[MO, OK Only] Legacy Bank & Trust ‘Legacy Rewards Checking’ 4% APY (Up To $10,000) Review

Update 9/13/22: Now available in OK as well. Hat tip to Curmudgeon

Update 12/28/19: Account can now be opened online. Hat tip to reader Curmudgeon

Update 04/14, some changes to this account:

  • Account is now called Legacy Reward checking
  • Required debits increased from 10 to 16
  • ATM fees no longer uncapped on reimbursement, now $20/mo with $4.99 max per transaction
  • There are now two more locations, both in Clinton MO
  • I don’t think there is any way to fund with a credit card, since it has to be opened in branch
  •  Max of 2 accounts per household (used to be 2 per person)
  • Accounts don’t have ACH transfer ability, so need to initiate from outside account
  • Phone app now has mobile deposit ability.  Money orders/travelers checks are explicitly noted as not accepted.

Hat tip to reader curmudgeon

Offer at a glance

  • Interest Rate: 4% APY on balances up to $10k
  • Additional Benefits: ATM fee refunds
  • Minimum Balance: None
  • Availability: Must apply in branch, all branches are in MO.
  • Direct deposit required: None
  • Additional requirements: Yes, 10 debit card purchases, eStatements & online banking
  • Hard/soft pull: Soft
  • Credit card funding: Up to $1,000
  • Monthly fees: None
  • Early Account Termination Fee: Unknown
  • Insured: FDIC

The Offer

Direct link to offer

  • Legacy Bank And Trust offer the i-Profit checking account that earns 4% APY on balances up to $10,000 (0.05% on balances greater than $10,000) when you complete the qualifying actions (described below).
  • They will also refund all ATM fees nationwide.


Qualifying Actions

  • Open the account with at least $100
  • Have at least one automatic payment or direct deposit post and clear each statement cycle
  • Requires online banking and e-statements
  • Minimum of 16 debit card transactions per monthly statement

If requirements are not met you’ll receive a 0.05% APY.

How To Join

There isn’t any way to sign up for this account online, so unfortunately you’ll need to go into a branch to qualify. They have four branches, all of which are in MO:

Referral Program

They will also give you $25 for every person you refer. You can view their referral program here.

Our Verdict

What I like about this account is the fact that a direct deposit requirement isn’t necessary, it’s also a fairly high rate and maximum balance allowed to get the full 4% rate. Unfortunately it’s only available in some select areas and we don’t know if it’s a hard or soft pull to open (I doubt you can fund with a credit card since it’s in branch only) You can find more rewards checking accounts here and there are also a number of prepaid cards that offer high rates.

Hat tip to reader John

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oldest most voted

DH (@guest_1445089)
September 14, 2022 12:51

Joke of a bank, at least the branch I went to. The clerk obviously didn’t like my chex pull so claimed the computer system was down, even though I could see everything she was doing in the reflection of the glass walled office behind her desk. After a fair bit of mouse clicks and key stokes (with feigned frustration) she said she didn’t want me to have to wait around an hour for the system to come back up but had everything she needed to open my account and would call me the next day. First bank I know that didn’t want a signature on anything :D. System didn’t seem to be delaying other customers activities.

Needless to say, no call next day, and no return call to the messages I left her. I emailed a complaint to the bank’s generic mailbox and got a return call from her a couple hours later. I didn’t answer, but message was left to call her back about my account application. I didn’t bother calling and received the denial letter a few day later.

I really don’t care about being denied, I know my activity is not the average Joe Blow; but, really, lie to the customer’s face to get them out the door because you don’t want to do your job?

Curmudgeon (@guest_1444065)
September 13, 2022 06:23

 William Charles This account is now open to Oklahoma residents.

Apply online: https://apply.legacybankandtrust.com/

Scott (@guest_1398938)
June 22, 2022 20:56

I noticed on my last couple of statements the apy is varying. Have’t seen 4% in several months

Nudder One
Nudder One (@guest_1416119)
July 28, 2022 09:02

What rate are you seeing?

Scott (@guest_1416192)
July 28, 2022 11:48

my last statement shows 3.54%

Curmudgeon (@guest_1444688)
September 13, 2022 22:20

Do you have more than $10k in the account? Legacy’s home page is showing the 4% rate. I think you only get .00000001% on anything above $10k which could cause the lower overall rate you’re seeing.

Scott (@guest_1445462)
September 14, 2022 21:25

Yeah, after doing the math this is what was happening.

Ray (@guest_1184960)
April 30, 2021 16:29

I got paid the nonrewards interest rate after doing 16 Facebook penny transactions, and an automatic draft for credit card payment. This has worked previously. Is anyone else having any problems like this?

Anonymous (@guest_1185342)
May 1, 2021 23:13

I’ve been doing the .50 Amazon GC Reloads and it’s still paying out rewards rate as of the last statement cycle closing.

Ray (@guest_1185936)
May 3, 2021 16:00

Thank you for your reply. Turns out the fixed it later!

Mike (@guest_1189574)
May 11, 2021 14:36

Does “Facebook penny transactions” mean sending money to a trusted party through messenger app? I don’t use Facebook very much but am curious on this. Thank you

killdozer (@guest_1210459)
June 22, 2021 19:03

How are you doing Facebook penny transactions? I make an ad account, and a business account, and theres no option to add money, only add your payment method on file.

Ray (@guest_1335355)
February 20, 2022 22:37

I just send the pennies to friends using Facebook pay.

John M
John M (@guest_1444635)
September 13, 2022 21:09

How do you do the .01 FB transactions?

Scott (@guest_1103189)
December 4, 2020 13:48

This is still 4% for MO residents.

Melody (@guest_862466)
December 28, 2019 15:43

For those closer to Columbia or Cape Girardeau, the bank of Missouri has checking accounts with 4% cash back or 3.05% APY on balances up to $15,000 (you can also apply online for those).

Curmudgeon (@guest_862366)
December 28, 2019 02:45

 William Charles Good news for Missouri residents – this account can now be opened online!


Still restricted to MO residents though. Initial account funding via ACH transfer only.

New branch opened in Springfield, so a total of seven branches now (including two in Clinton).

Another Dan
Another Dan (@guest_862445)
December 28, 2019 13:47

Is this still 4%? A lot of the other banks have reduced their mega high interest rates lately and I can’t find the rate on their website. If it is still 4%, I’m going to move my old Orion money there!

Curmudgeon (@guest_862546)
December 29, 2019 00:17

Still getting 4% as of my 11/30/19 statement. Haven’t heard anything about the rate dropping here so pretty sure it’s still going to be 4% for December.

Curmudgeon (@guest_813378)
September 23, 2019 04:49

Bank now has ACH capabilities. 🙂

Unfortunately, it’s limited to a max transfer of $2000 either in or out. Outbound transfers have a $2 fee. And a new one for me, when setting up the external account, after entering all the usual data (routing #, acct #, type of account, etc) there’s this irritating little nugget:

“Please provide a copy of a deposit slip, voided check or loan statement to prove ownership of the requested external account. You may attach the document via secure message within online banking or fax the documents to 417-753-1535. For security purposes, please do not send the document via regular email.”

You can also set your max transaction limit for ACH in/out, in case you don’t want the $2k maximum.

john m
john m (@guest_862472)
December 28, 2019 16:50

I guess they’re new to this online banking thing. All that just to add an external account. They just want to keep your money. A $2 fee to get your money-what a joke. US Bank charges $3.

Guest (@guest_649287)
September 29, 2018 19:12

Are Amazon Gift Card debits no longer counting towards the debit card transactions? Noticing the line items on the Legacy Bank statements now read “MEMO DEBIT Utility Bill” instead of the prior “POS PMT CK”. Thoughts?

Guest (@guest_649988)
October 1, 2018 20:44

UPDATE: Seems the line items change from “MEMO DEBIT Utility Bill” when pending to “POS PMT CK” when posted. If anyone else wanted to know…

jussoyano (@guest_543145)
December 29, 2017 03:10

Just FYI, there are changes to this, starting 1/1/18…..

The iProfit Checking Account will now be known as Legacy Reward Checking

• You can earn our highest interest rate on balances up to $10,000 by having:

o At least one automatic payment or direct deposit post and clear each statement cycle

o Online banking and e-statements

o A minimum of 16 debit card point of sale transactions post and clear each monthly statement cycle

• ATM fees will be automatically refunded, up to $20 per statement cycle (up to $4.99 per transaction)

• A paper statement fee of $3.00 per statement will be implemented if not enrolled in e-statements

• Limit of two (2) Reward Checking accounts per household/physical address

December 29, 2017 10:30


Looks like the only change is 16 debit transactions instead of 10.

jussoyano (@guest_543564)
December 29, 2017 17:33

There was not previously a cap on ATM refunds or an option for paper statements, but I suppose for the purposes of what we are trying to accomplish, those are irrelevant. 🙂

Mike Scott
Mike Scott (@guest_547274)
January 4, 2018 17:19

Thanks! I was looking for a new bank account and I happen to be driving by one of their locations next week.