Brookhaven Bank of Atlanta Georgia is offering their Elite Checking account which currently has an annual percentage yield of 4.50 percent. The rewards checking rate of 4.50 percent is for balances from one penny up to $50,000. Balances over $50,000 earn a respectable annual percentage yield of 1.25 percent.

As with all rewards checking accounts, you have to meet a certain monthly criteria to receive the rewards checking rate which we have listed below. If you do not meet the minimum requirements per monthly billing cycle the account will earn an annual percentage yield of .25 percent for that month. You can always get back on track to the 4.50 percent rate the next billing cycle, so it is important to meet the monthly requirements.

 To earn the Elite Rate for the checking account you have to perform the following each cycle:

• Make 10 Debit Card transactions (excluding ATM transactions)
• Set up 1 Direct Deposit or Automatic Payment from your account
• Receive your monthly statement electronically through free On-Line Banking

The Elite checking account also has the following features

• Free Checking
• No Minimum Balance
• Free debit
• Free Online Banking
• Free Online Bill Pay
• Reimburses all ATM fees nationwide
• All accounts automatically qualify for the first cycle

Another important reason to meet the minimum requirements per monthly billing cycle is you won’t be reimbursed for ATM fees.

Brookhaven Bank is also participating in the FDIC’s Transaction Account Guarantee Program. Under that program, through December 31, 2009, all non-interest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules.

Brookhavenbank.com