Published on January 28th, 2016 | by William Charles15
[MO Only] Legacy Bank & Trust i-Profit 4% APY (Up To $10,000) Checking Review
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
- 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.
- 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 10 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:
They will also give you $25 for every person you refer. You can view their referral program here.
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