[MO, AR, OK, KS, IA, NE, IL, KY, TN, GA, IN, MN, OH, TX, CO only] Old Missouri Bank 2.01% APY Rewards Checking Account On Balances Up To $25,000

Update 9/29/20: Rate reduced to 2.01%.

Update 5/7/20: Now available in Georgia, Indiana, Minnesota, Ohio, Texas and Colorado as well as the previously available states. Hat tip to Not Miles Talk

Offer at a glance

  • Interest Rate: 2.01% APY
  • Minimum Balance: None
  • Maximum Balance: $25,000 for 3.01% APY
  • Availability: Nationwide. They have now added that you must be a resident of Missouri, Arkansas, Oklahoma, Kansas, Iowa, Nebraska, Illinois, Kentucky, Tennessee, Georgia, Indiana, Minnesota, Ohio, Texas and Colorado now added.
  • Direct deposit required: Requires one ACH credit or payment
  • Additional requirements: 12 debit card transactions
  • Hard/soft pull: Soft
  • ChexSystems: No
  • Credit card funding: None
  • Monthly fees: None
  • Insured: FDIC

The Offer

Direct link to offer

  • Old Missouri Bank are offering an interest rate of 3.01% on balances up to $25,000 on their Kasasa Cash Checking account when you meet the following requirements each monthly qualification cycle:
    • Have at least 12 debit card purchases post and settle
    • Have at least 1 ACH credit or ACH payment transaction post and settlement

The Fine Print

  • 0.01% APY when requirements aren’t met
  • US Citizens only

Avoiding Fees

This account has no monthly fees to worry about.

Our Verdict

Unfortunately now it’s just for Missouri.

One of the better nationwide high interest accounts with a large maximum deposit. It doesn’t look like the ACH requirement is very strict and basically any ACH transfer will trigger it. Debit card transaction requirement shouldn’t be too difficult to meet either, some ideas on that here. It’s also nice there is no monthly fees to worry about if you don’t meet the requirements.

Hat tip to reader Curmudgeon

Post updates:

  • Update 2: Iowa, Nebraska, Illinois, Kentucky and Tennessee
  • Now available in Oklahoma & Kansas as well.
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116 Comments
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slut
slut (@guest_1064731)
September 29, 2020 16:51

interest rate now 2.01%  William Charles

Joe
Joe (@guest_1026911)
July 31, 2020 11:01

Does anybody know how to view your actual account number online?

Count de Monet
Count de Monet (@guest_993908)
June 7, 2020 11:58

Is there any way to add external accounts for ACH transfers? All I see is the popmoney P2P service.

bonusgetter
bonusgetter (@guest_985479)
May 23, 2020 13:43

This was just reduced to 2.01%.

Frito Pendejo
Frito Pendejo (@guest_1021145)
July 22, 2020 17:10

Yup, just noticed this. I think I am about done juggling HY accoutns now that they are all 2% or less. Not worth the effort anymore

Johnz
Johnz (@guest_984550)
May 21, 2020 21:16

Interest rate is dropping from 3.01%APY to 2.01%APY Effective: Friday, May 22, 2020.
Just received email from the bank that says “current market conditions require us to make a slight adjustment at this time”. “… for customers who meet the monthly rewards qualifications, we are proud to offer a 2.01% Annual Percentage Yield on balances up to $25,000.”

axel m
axel m (@guest_984517)
May 21, 2020 20:13

Rate will be changing to 2.01 shorty – “OMB Staff

Brooke
Brooke (@guest_984234)
May 21, 2020 12:54

Just opened an account–it took almost 20 days to get everything finalized (due to pandemic impact). After it all went through, the rate was changed to 2.01%.

David
David (@guest_979658)
May 14, 2020 12:47

Just applied online. The end said a rep would be in touch in 1 business day. Ugh. I hoped it would be all done online. Hope they don’t ask me to fax/send docs in or anything. Just trying to get that interest rate!

anthony Anderson
anthony Anderson (@guest_979858)
May 14, 2020 18:18

I applied last Friday. still waiting approval. they asking me to send in drivers license and utility bill.

Erik
Erik (@guest_975912)
May 9, 2020 04:43

I was told by representative that they will reduce the rate to 2% in June.

John
John (@guest_977987)
May 12, 2020 08:47

Not surprising. Thanks for the heads-up, though. I was about to join. I’ll just stay with Capital One’s 1.5%. It’s not worth jumping through hoops for 0.5%. Thanks again for the update.

john mccann
john mccann (@guest_975321)
May 8, 2020 15:07

3.01 for now. My local cu just went down to 2.01 after a couple of years at 3.01.