Posted by William Charles on December 29, 2016
Savings Accounts

Published on December 29th, 2016 | by William Charles


Randolph Savings Bank Apex Checking 2.5% APY On Balances Up To $25,000 [MA only]

Update 2/3/20: Rate reduced to 2.5%

Offer at a glance

  • Interest Rate: 2.75% APY
  • Minimum Balance: $10
  • Maximum Balance: $25,000 for higher interest rate
  • Availability: Must go in branch to get debit card, all branches are in MA [Branch locator]
  • Direct deposit required: Yes, $2,500+
  • Additional requirements: 10 POS transactions & eStatements
  • Hard/soft pull: Unknown 
  • Credit card funding: Unknown 
  • Monthly fees: $10, waivable
  • Insured: FDIC

The Offer

Direct link to offer

  • Randolph Savings Bank offers an Apex checking account, this account earns an APY of 2.75% on balances $10-$25,000 when you meet the following requirements every month:
    • Receive direct deposits totaling $2,500 or more
    • Complete 10 point of sale debit card transactions
    • Enroll in eStatements
  • Balances over $25,000 will earn an APY of 0.01%

Avoiding Fees

This account has a monthly service charge of $10, this is waived if you have a minimum balance of at least $2,500.

Our Verdict

Not a bad offer considering the maximum amount is $25,000 but there are accounts that offer high rates. If you have any experience with this account, please share it in the comments below.

Hat tip to Yuriy G

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Anyone know if the 2500 direct deposit needs to be paycheck?

Yuriy G
Yuriy G

No, it’s any deposit that comes in via ACH. I personally use it to pay credit card payment in part. Transfer 2500.01 and then make a payment of $2500 on the day that I know the transfer will come in.


I did an ACH push from discover bank and it shows “DISCOVER BANK P2P (a number) WEB (my name)”. Not sure if this will count b/c I just started this account. What does it show on yours?

Yuriy G
Yuriy G

That is exactly how my ACH’s show up too – no issue with that, it should count. ALLY BANK P2P WEB is what I see. And then do your 10 gift card reloads on Amazon in the proper way (those should say POS on them in your statements). And then just make sure at statement time, that you got the money. You’ll see it paid out / your statement will reflect it only at the end of the period and not any earlier. Hope that helps!


I appreciate it. Thanks!


How long is the rate goof for? I’m not seeing anything on the site.

Yuriy G
Yuriy G

Technically, this one is anyone’s guess… they could of course always change it. But appears less flakey then some other banks that flip these offers off every 2-3 months. I monitored this offer for a couple of months before opening an account 3 months ago and the rate / offer has not changed.


2.47% on the high yield checking and they changed the name to Envision Bank

Billy Bong
Billy Bong

William Charles Looks like the 2.75% is dead. Only see 2.50% now

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