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FirstNet is an innovative free account that pays. With 6.06% APY, your checking account becomes a true investment, making more money than a traditional savings account. Since we refund ATM fees incurred by other banks worldwide, you'll never waste those gains on getting cash. Plus you get a MasterCard Check and Debit Card, online banking and bill pay for free. There are never maintenance fees or hidden service charges, just rewards for using First Arkansas Bank & Trust.
* Earn 6.06% APY*
* Free ATMs worldwide
* No minimum balance, low opening balance of $100
* No maintenance fees
* Free online banking and bill pay
* Free MasterCard Check and Debit Card
* 6.06% Annual Percentage Yield (APY) paid on balance each cycle the minimum requirements are met. If you do not meet the requirements per cycle, your account will still function as a free checking account earning 0.05% APY without ATM fee refunds.
Requirements:
That's a lot of hoops to jump through every month to maintain that interest rate.
- Make at least 10 point of sale debit card transactions per statement cycle
- Set up one monthly direct deposit or ACH auto debit or make one online bill payment per statement cycle
- Receive e-statements
- Sign in to your online banking account once per statement cycle
That's a lot of hoops to jump through every month to maintain that interest rate.
I think they are counting on most people not being able to meet the requirements.
I wouldn't be able to meet 'em. I never perform debit card point of sale transactions ... strictly credit card.
QUOTE (TheDiggler @ 1-18-08, 7:57pm) 
I wouldn't be able to meet 'em. I never perform debit card point of sale transactions ... strictly credit card.
Why use debit with all of the point/mileage programs out there. I usually get a free trip every year from them. Leaving for 2 weeks in Puerto Vallarta at the end of the month. With a debit card, they get my money faster. Playing the float is a much better deal.
Mucho restrictions keep me from opening one...
From another blog, it mentions the rate will drop to 4.40% APY beginning Thursday, 02/07/08.
From another blog, it mentions the rate will drop to 4.40% APY beginning Thursday, 02/07/08.
Bank is obviously conning people. If a bank tries to pull this crap, you will most likely have to deal with more crap in the future.
Rate is changing to 4.44% next Thursday. Not worth it.
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