Posted by Chuck on April 4, 2019
Checking Accounts

Published on April 4th, 2019 | by Chuck

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[MO] Ozark Bank 5% APY Checking on Balances up to $10,000

Offer at a glance

  • Interest Rate: 5.00% APY if requirements are met
  • Minimum Balance: $40 to open
  • Maximum Balance: up to $10,000 gets the bonus interest rate
  • Availability: Missouri only?
  • Direct deposit required: one ACH or payment required
  • Additional requirements: 12 debit card transactions
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Insured: FDIC

The Offer

Direct Link to offer (requires branch visit)

  • Ozark Bank offers their Show-Me checking with 5.00% APY on balances up to $10,000 when the following requirements are met:
    • At least one ACH direct deposit or payment must post and clear;
    • 12 debit card transactions per statement cycle.

The Fine Print

Avoiding Fees

Sign up for e-statements to avoid $3 monthly fee. Other than that, there aren’t any monthly fees.

Our Verdict

Aside from being a tv series, Ozark is also a city in Missouri. To open this account, fill out the form online, and then you’ll have to go in branch to complete the account opening, so it’ll only really work for people in or near Ozark. We’ll add this to our list of Best High Yield Savings Accounts.

Thanks to an anonymous reader for sharing this.



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Kasey
Kasey

Just called to ask about geographical eligibility, sounds like this is only available to residents of southwest Missouri (not sure if it gets more specific than that, but that’s what the rep said). Bummer

Andrew
Andrew

I have a buddy that lives in Kansas City and grew up in Ozark. I think he’s going to go for it, since his parents still live there

Randall
Randall

I like that all Missouri is known for is ozark on netflix

beat2def
beat2def

Not me (as a Missouri resident). It’s not even shot in the Ozarks. It’s filmed in Georgia!

Anonymous
Anonymous

Anonymous Reader/Submitter here, in Bank opening an account. Staff is not denying out of area applicants, but highly encouraging it — I reside in Springfield, MO. Thanks for posting, Chuck!

Lucas Capgras
Lucas Capgras

Which branch was this?

Anonymouse
Anonymouse

HWY NN in Ozark, MO.

Revil
Revil

Application requires you to specify your preferred branch, and you submit the application before entering your SS#. I suspect that they’ll tell you to go in branch before they can open the account.

Curmudgeon
Curmudgeon

I submitted an app. The online form asks for your basic info, then says “Thank you for choosing Ozark Bank for your banking needs, we look forward to working with you! A member of our team will contact you within the next business day to begin processing your application.”

So, I’m guessing I’ll hear back from them tomorrow and can report what I learn.

Lucas Capgras
Lucas Capgras

Awesome. I live in the KC area. I think I will submit an app as well.

bob
bob

i live in STL. i applied, and got the “we’ll call you soon to finish your applicatoin.” Will report back with results

Justin
Justin

In CA. Just did the quick register. The last question is “Select your branch” and it’s required. I just left it blank and submitted. A quick popup said to select my bank but then the page changed to “Thank you for your application….A member will contact you within a day”

Aruarian
Aruarian

Keep us posted!

Justin
Justin

No Go. Call at 7am saying they’re a small town bank and have to have you come in for ID verification. So In Branch only. Was a bit weird waking up to a call from Ozark however

Anonymous
Anonymous

FYI: This is a SOFT pull — I inquired when opening my account.

doc
doc

Too bad the Ozark limit is not millions for those of us that need to wash money for a kingpin.

Lucas Capgras
Lucas Capgras

Can confirm this bank is only for Missouri residents, unfortunately.

RSchloemer
RSchloemer

There may be a loophole. I spoke with a manager of one of the banks on the phone and they suggested that out of state would work if we had a close relative living within Missouri. Vacation to see Grandma, anyone?

Curmudgeon
Curmudgeon

Got a call from bank rep today to verify some personal info (ss#, drivers license #, etc). Here’s what I found out:
– need e-statements to avoid $3/mo paper statement fee
– debits have no minimum amount to qualify
– debits must be done within statement cycle, not calendar month
– statement date is based on when account is opened
– bank cannot initiate ACH transfers, so you’ll need to push/pull from an outside bank
– no credit card funding, prefer cash/check in bank, but might be able to do ACH. Rep will have to get back to me on this.
– closest branch is a few hours away from me but rep said they’d be willing to mail me account opening docs (signature card, etc)
– maximum one account per person, per household, but said my spouse could also open a separate account

Once account is opened I’ll see if an ACH push qualifies as a direct deposit.

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