Incredible Bank 2.02% High Yield Checking Account

Incredible Bank, a division of River Valley Bank, is offering a high yield checking account with a pretty decent 2.02% APY for balances up to $250,000.

There are no minimum balances required to earn the 2.02% APY, but they do require that you open your account with a minimum of $1000.

This account is set up as an electronic checking accounts similiar to ING’s Electric Orange Account where you do not receive paper checks. All payments can be done with their free online bill pay. A paper check is generated to anyone that cannot receive electronic payments, but there is no check book issued to you. It all has to be done online.

 When you open an account you will receive an ATM card. Incredible Bank also rebates you the ATM surchages on the firs 3 ATM usages per day.This is pretty good since I don’t use the ATM more than 3 times a week!

They also have an ACH feature where you can link other accounts to them so you can transfer money in and out of your high yield checking account. From what I have read their transfers only take 1 day, which is extremely fast compared to other online banks. Incredible Bank, a division of River Valley Bank based in Michigan has been FCID insured since 1967. (FDIC Certificate # 19772)

If you can handle not having a paper check book, this account is a pretty good deal. Most high yield checking accounts force you to use your debit card so many times a month to qualify for the high interest and ATM rebates, but here you get it all for free. There is some speculation that this is a teaser rate which they will lower once enough people sign up. Their website does not refer to the 2.02% as anything other than their current fixed rate, but you may want to keep that in mind before you decide to jump on board.

Check out IncredibleBank.com for more details on the account.

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NOTE: For posts that contain bonuses, be sure to read the post for bonus expiration dates. Links may work but the bonus may have expired.

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