Farmers State Bank has an e-checking account that earns 3.51% annual percentage yield (APY) on balances up to $25,000. You can open the free checking account at one of the three Minnesota locations. Details of the offer include:

• Balances over $25,000 earn 1.01% APY
• $25 minimum opening deposit
• Up to $25 in ATM fees refunded each month
• No monthly fees
• Personal checking account customers only

To earn the 3.51% APY bank rate, you must make 10 Shazam Check Card purchases each month and one automatic payment/transfer or direct deposit. You also must access Internet banking at least once a month and receive e-statements. The bank rate (current as of Aug. 1, 2009) is the normal rate for the checking account, but can change depending upon market conditions. If you don’t meet the requirements, the interest rate on the checking account is 0.1% APY.

Farmers State Bank has other checking accounts available. The Simple Checking is a free account that requires $25 to open and does not earn interest. Growth Checking requires $1,000 to open and has competitive interest rates. Classic Checking requires $500 to open and has no monthly minimum balance requirement.

Open an Electric Orange checking account at ING Direct and you could earn a $50 bonus. You need to use reference code EM522 when you open your account online.

To earn the bonus you must activate an Electric Orange Debit MasterCard and make three signature-based purchases with it within 45 days. The $50 bonus gets credited to your account on day 50. Other details of the checking account include:

• No minimum balance requirement
• No monthly fees
• Pay bills online free
• Free transactions at 35,000 ATMs
• 1.25% annual percentage yield (APY) on balances over $100,000
• 1.2% APY on balances between $50,000 and $99,999.99
• 0.25% APY on balances under $50,000

Bank rates are current as of August 26, 2010. If you are tired of getting socked with high overdraft fees you might like this account. The average that most banks charge for overdrafts on checking accounts is $30. The Electric Orange bank rate for overdrafts is 2 cents a day on an overdraft balance of $100. So if you overdraw your checking account by $500, you pay an overdraft fee of 99 cents.

ING Direct online bank accounts are insured by the Federal Deposit Insurance Corp.(FDIC)

Open a KeyBank checking account and you may qualify for a free Sony bloggie, a pocket-sized camera that captures high definition MP4 video and 5 mega pixel images that you can upload directly to the Web to share on sites such as YouTube. The deal is only for people who open new checking accounts by Oct. 8, 2010.

Only individuals who live in Cleveland, Eastern Ohio, Idaho, Western New York, Oregon, Seattle Cascades, South Puget Sound, Central New York, Rochester, Maine, Northwest Ohio, Michigan, Capital Region New York, and Hudson Valley New York can qualify for the promotion. Customers can open accounts at local banks, by phone, or at www.key.com. Checking accounts opened at KeyDirect.com are not eligible for the offer.

The following personal checking accounts are eligible for the promotion:

• Key Express Free Checking
• Key Coverage Checking
• Key Advantage Checking
• Key Privilege Checking
• Key Privilege Select Checking

Business checking accounts eligible for the promotion are:

• Key Business Free Checking
• Key Business Reward Checking
• Key Business Checking
• Key Business Money Market Checking
• Key Business Sweep Checking

To qualify for the Sony bloggie, checking customers must make one transaction with a KeyBank Debit MasterCard and a combination of two direct deposits and/or automated payments of $100 each by December 12, 2010.

More initiatives are being aimed at getting the “unbanked” to open bank accounts. The Federal Deposit Insurance Corp. (FDIC) recently approved a pilot program that encourages banks to offer deposit accounts with low costs. The idea is to get lower income people who rely on check cashing services to open savings and checking accounts with banks.

The FDIC program hopes to encourage banks to offer safe accounts with features that would attract people who have lower incomes, such as a $1 minimum balance requirement. “Access to mainstream financial services at a federally insured institution provides consumers with a safe place to keep their money and conduct basic financial transactions affordably. Such access can also help consumers build a credit history, access credit on favorable terms, and work toward financial security,” FDIC Chairman Sheila C. Bair said in a statement.

About 17 million adults in the U.S. rely on check cashing services, such as payday lenders, according to the Wall Street Journal. Payday lenders are notorious for charging exorbitant rates of interest that can climb past 300% annual percentage yield (APY). But many of the unbanked also cash checks at places like grocery or liquor stores that charge a fee per transaction. Approximately 21 million people in the U.S. are considered “underbanked.” These people have checking accounts but still use services such as payday lenders or car title lenders.

Open a Bank of Greene County checking account and get a free 8GB iPod Touch. The offer is good until Sept. 30, 2010, for any new personal checking account. Bank of Greene County is based in Catskill, NY and you must visit a branch to open an account. The terms of the iPod Touch offer require that you sign up for direct deposit and use your Visa Check Card twice.

All Bank of Greene County checking accounts include:

• Free online banking
• Free bill pay
• Free Visa Check Card and Visa Rewards

The Bank of Greene County has several checking accounts to choose from. They include the Free e-Checking account, which has no minimum balances and competitive interest rates. The Totally Free checking account has unlimited check writing and no minimum balance. The Tech/Image Checking has no service charge with direct deposit and check images are available upon request. Green Plus Checking offers detailed monthly statements, competitive interest rates, and check images available upon request. The Premiere Checking is a high-yield account that offers free unlimited checks, free American Express Travelers Cheques, free money orders and bank checks, and free Internet Bill Pay Plus.