[MI only] AAA High-Yield Checking Account Review: 2.85% On Balances Up To $10,000

Offer at a glance

• Interest Rate: 2.85% APY on balances up to $10k
• Additional Benefits: ATM fee refunds
• Minimum Balance: None
• Availability: MI only
• Direct deposit required: Yes, $200+ (terms specifically say ACH is ok)
• Additional requirements: Yes, 12 debit card purchases of $5+ each, eStatements
• Hard/soft pull: Unknown
• Credit card funding: Unknown
• Monthly fees: None
• Early Account Termination Fee: Unknown
• Insured: FDIC

The Offer

Direct link to offer

• AAA offer the High Yield checking account that earns 2.85% APY on balances up to $10,000 (0.05% on balances greater than $10,000 or when qualifications aren’t met) when you complete the qualifying actions (described below).
• They will also refund all ATM fees nationwide as long as you meet the qualifying actions requirement.

Qualifying Actions

• Make at least twelve debit card transactions per month with a $5 minimum per transactions
• Receive an automatic payment (ACH) of at least $200
• Be enrolled in e-statements

How To Join

Even though AAA is nationwide, it looks like only their Michigan branch is offering this account. You don’t need to be an AAA member to sign up for this account either.

Our Verdict

The requirements on this account are quite steep considering the relatively low interest rate, I think you’d be better off with one of the other rewards checking or high yield prepaid accounts instead.

Hat tip to reader Sergey