Natchez Deal: 5.13% On Reward Checking

Savers in Natchez, Miss., have a great thing going.

They can take advantage of the two, top-paying high-yield checking accounts in the entire country.

We already told you about the Smart Rate account from Britton & Koontz Bank, which pays local customers in Mississippi and Louisiana 5.25% APY on balances up to $30,000.

Now here’s the story on the NetCheck account from United Mississippi Bank.

It’s offering 5.13% APY on balances up to $25,000 and 1.01% APY on balances over $25,000.

Both of those deals are far better than the 4.00% APY you’ll earn with the best nationally available high-yield checking accounts.

As with so many local deals, you must open an account in person. In this case, you must go to one of United Mississippi’s nine branches in the Natchez area.

The requirements to qualify for the account’s top rate are pretty standard for this kind of high-yield or reward checking account.

Each month you must make at least 10 debit card purchases, one direct deposit or automatic payment, and receive your statement electronically.

If you don’t meet these requirements, you’ll earn only 0.25% for that billing cycle. Fulfill the obligations the next month and your rate climbs back to 5.13%.

If you’re unfamiliar with how these accounts work, “The ABCs of High-Yield Checking Accounts” will explain all the rules.