[WY only] WyHy FCU 3% APY SmartReturns Checking Account On Balances Up To $15,000 – Direct Deposit Not Required

Update 4/6/20: Rate reduced to 3%

Offer at a glance

• Interest Rate: 3% APY
• Minimum Balance: None
• Maximum Balance: $15,000
• Availability: Must open in branch, all branches are in WY [Branch locator]. Non residents can open via phone (Call 307-638-4200, choose option 5, then option 5 again to get a real person)
• Direct deposit required: None
• Additional requirements: See below
• Hard/soft pull: Hard pull
• ChexSystems: Yes
• Credit card funding: None
• Monthly fees: None
• Insured: NCUA

The Offer

Direct link to offer

• WyHy Federal Credit Union is offering a 4% APY rate on the Free SmartReturns Checking account on balances up to $15,000 when you complete the following requirements:
  • Make at least 12 debit card purchase per month [Read: How To Meet Minimum Debit & Credit Transaction Requirements]
  • Using automatic payments or SmartDeposits for direct deposit
  • Elect to use eStatements
• Balances over $15,000 earn 0.25% APY and you can earn free unlimited ATM refunds by meeting the above requirements)

The Fine Print

• Minimum opening deposit of $25
• Each qualifying period will begin one business day prior to the first day of the current statement cycle through the last day prior to the last business day of the current statement cycle.
• If you do not meet the qualifications for a qualification cycle your APY will be 0.05% for that period.
• You will not be reimbursed for any accrued but unreimbursed ATM fees at the time You close Your account.

Avoiding Fees

This account has no monthly fees to worry about.  There is a $10 inactivity fee for the debit card if it’s not used once every 90 days, so as long as you’re meeting the debit requirements this won’t come into play, but if you let the account go dormant you’ll get hit with the fee. There is also a $5.95 monthly fee if you sign up for Bill Payments but don’t actually use it in a month.

Our Verdict

Assuming this is a soft pull, this account is very very good. 4% rate on balances up to $15,000 is great (usually the maximum balance is much lower on accounts with that type of rate). The fact that no direct deposit is required makes it even better. It is a shame you need to open the account in branch though.

All of that being said (and assuming a soft pull) this is one of the best high interest rewards checking accounts currently available.