[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.
    William Charles
  • On May 7, 2020, 23:41

View Comments (116)

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

    • 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

  • 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."

  • 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%.

  • 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!

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

    • 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.

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

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