MarketUSA Federal Credit Union 3% APY Rewards Checking - Available Nationwide

Offer at a glance

Contents

The Offer

MarketUSA has a VIP checking account that offers a rate of up to 3.01% APY. There are two tiers (Platinum is 3.01% and Gold is 2.01% APY). The requirements are as follows:
- Enroll in eStatements
- Have a monthly direct deposit of at least $250
- Make at least 12 Visa debit card purchases per month ($5 minimum)
- Platinum tier only: Make 3 bill payments per month

Direct deposit from a single source can not be used to meet the requirement for multiple accounts
Debit card purchases must be posted to the account by close of business on the last business day of the month; purchase returns will reduce your number of transactions; multiple transactions of the same amount, on the same day, may cause your transactions to post manually, which will not count towards the qualification limits
bill payments must be posted to the account by close of business on the last business day of the month, must be at least $20 each, and may NOT be made payable to Market USA FCU or to any non-business payee. Splitting a single bill into three payments does not qualify. Bill payments must be sent electronically to count towards the qualification requirement
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

This account doesn’t have any monthly fees to worry about.

The 2% APY tier isn’t worth considering because there is an account offering 2% APY with no requirements. I don’t think the 3% APY tier is really worth considering either due to all the requirements and considering you can get up to 5% APY with other financial institutions. Maybe if it has high credit card funding it would be worth opening but I doubt it.

Hat tip to reader Elena