Bank Deals, Checking Accounts, Local Bank Deals, Savings Account Rates

FirstMerit Bank has a Reality Savings Account with a 1.25 percent annual percentage yield (APY). The savings rate is variable and current as of March 14, 2011. You must have a FirstMerit Bank checking account to qualify for the savings rate. Details of the checking account offer include:

• Minimum opening deposit of $1
• Earn competitive interest rates on all balances
• FirstMerit debit card
• Free online banking services
• Direct deposit available

The savings has a $10 monthly maintenance fee unless you also have a checking account with at least two debit or credit transactions during a statement cycle. FirstMerit Bank has several checking accounts available:

• Free checking, which offers rewards of 5 cents for all debit card purchase transactions, bill payments and direct deposits
• Gold Checking, which has tiered interest rates and free debit card transactions for PIN and signature transactions

FirstMerit Bank accounts are available to consumers and businesses in Northern and Central Ohio, Western Pennsylvania and the Chicago area.

Open a checking account at Key Bank and you could earn a $100 cash bonus. The offer is good until March 25, 2011, and you must use offer code ONCS0211 when opening an account online. Other requirements to receive the bonus include making at least 20 payments and/or purchases a month for three months, and making three direct deposits of at least $500 within three months of opening a checking account.

The following Key Bank accounts qualify for the bonus deal:

• Key Coverage Checking, which has free statements, online banking and bill pay; the first two overdraft or return items fees assessed per monthly statement are waived; and no overdraft fee if you withdraw account by $10 or less based on the end-of-day balance.
• Key Advantage Checking, which waives the monthly fee with balances of $10,000 and up in any combination of qualifying deposit, credit, investment and retirement accounts.
• Key Express Checking, which has no minimum balance, monthly maintenance fee, or per-check fee or limits.
• Key Privilege Checking, which has unlimited check writing, automatic daily sweep with various investment options and reimbursement each month of up to $6 of other banks’ ATM fees.
• Key Privilege Select Checking, which has unlimited check writing and various overdraft options.

Key Bank, based in Cleveland, is one of the nation’s largest bank-based financial services companies.

University of Iowa Community Credit Union has a Rewards Checking with a 4.25 percent annual percentage yield (APY) on balances up to $25,000. That’s one of the more competitive interest rates out there and is current as of March 1, 2011. Details of the checking account offer include:

• $50 minimum deposit to open
• No minimum balance required
• Free online banking with bill pay
• Free e-statements, which are required
• Free mobile and text banking
• Overdraft protection is available
• Free check card with zero liability protection
• Insured up to $250,000 by the National Credit Union Administration

Checking account balances over $25,000 earn 0.25 percent APY. If the requirements for the checking account are not met, the interest rate falls to 0.1 percent APY.

The checking account also has free use of ATMs nationwide. ATM fees will be refunded if the following requirements of the account are met: 12 or more qualifying debit card transactions averaging at least $5 must post to the account (excluding ATM and pin-based transactions) and one ACH/direct deposit of a minimum of $100 each month. Not meeting the requirements results in a $1 fee for each PIN-based transaction at ATMs that are not owned by the University of Iowa Community Credit Union.

The credit union serves nearly 80,000 members who are alumni or related to alumni of the University of Iowa, as well as residents and employees in various counties in the state.

It’s relatively easy to apply for a checking account these days, and you don’t even have to visit a bank branch to do so. But there are some situations where banks may deny a checking account application.

Here are some reasons you could find yourself rejected for an account:

1. You have a history of bouncing checks. When you apply for a checking account banks usually gets a report from ChexSystems, a consumer-reporting agency that shares information with financial institutions. A bad report could keep you from opening a checking account. If you are denied a bank account based on ChexSystems information, you can request a copy of the report.
2. You could be a victim of identity fraud. A bank may deny you if there have been other accounts opened in your name or it suspects fraud. If you believe that someone has opened fraudulent bank and other financial accounts in your name it’s important to review your credit report to figure out exactly what’s going on so you can close those accounts.
3. There may be errors on your ChexSystems report. Review your report and contact the appropriate financial institutions to correct the errors.

It’s important to keep careful records when you get problems cleared up on your report. These records may work in your favor when you are trying to open a bank account.

Open a Clear Sky Checking Account at Chesapeake Bank and you could earn an interest rate of up to 1.2 percent annual percentage yield (APY). The checking account has tiered interest rates, which are:

• 1 percent APY for balances up to $9,999
• 1.1 percent APY for $10,000 to $24,999
• 1.2 percent APY for $25,000 to $249,999
• 0.25 percent APY for balances above $250,000

The paperless checking account has no monthly fees. Other features of the account include free bill pay, mobile banking, e-statements and touch-tone automated teller access. The account also includes a Visa CheckCard, free identity theft protection and free ATM access. Accounts can be opened online and are insured by the Federal Deposit Insurance Corp.

Chesapeake Bank also offers a Clear Sky Savings, which has a 1.25 percent APY for deposits up to $249,999 and 0.25 percent APY for $25,000 and up. The savings account has no monthly fees and free online banking and other e-tools.

Chesapeake Bank, Williamsburg, Va., has been in business since 1900. Clear Sky Accounts can be opened online in just a few minutes. Initial deposits can be made by transferring money from an existing Chesapeake Bank of Clear Sky account, a transfer from another bank account, mailing a checking or making a deposit at a Chesapeake Bank branch.