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High Yield Checking

A CapEd High Yield Checking Account earns more than a regular checking account with 2.50% APY1.

High Yield Checking

How does a High Yield Checking account benefit me?

When qualifications are met, a CapEd High Yield Checking account rewards you with 2.50% APY1 on your account balance up to $10,000 during each qualification cycle. The dividends are deposited directly into your account. Additionally, if you use an ATM and get charged with a fee, you can get ATM refunds2 up to a maximum of $25.00 with your High Yield Checking account.

Benefits and Features

  • Earns more than a regular checking account with 2.50% APY
  • No minimum balance required
  • No monthly service fees
  • Nationwide ATM refunds2 up to a maximum of $25 on your CapEd High Yield Checking account
  • Free online banking
  • Overdraft protection
  • Free online Bill Pay
  • Federally insured by NCUA

How to Qualify for Rewards

  • At least one direct deposit or automatic payment must post or clear your High Yield Checking account each qualification cycle
  • At least twelve debit card purchases must post and settle on your High Yield Checking account each qualification cycle
  • Must be enrolled in and agree to receive eStatement notices

Rates

Balance Dividend Rate APY1
$0 - $10,000   (qualifications met) 2.47% 2.50%
Over $10,000   (qualifications met) 0.20% 0.20%
$0 - $10,000   (qualifications not met) 0.05% 0.05%
Over $10,000   (qualifications not met) 0.05% 0.05%

Get $100 & Give $100

Open a CapEd High Yield Checking™ account and you could Get $100 deposited directly into your account and you could be able to Give $100 to a school of your choice3. It’s a win-win for you and education!

Generate a promo code by selecting a school district, school, and program in the drop downs below. Copy and paste the generated promo code into the promo code field on the High Yield Checking sign up page.

Clear promo code and drop downs


Get a High Yield Checking Account

Easily apply online for a High Yield Checking Account, or find a CapEd location to apply in person.


If you already have a CapEd checking account and you want to convert to a High Yield Checking, fill out an Account Change Card and drop it off at a CapEd branch.


FAQs

No, only one CapEd High Yield Checking Account is allowed per member social security number.

Members receive monthly emails to the email address associated with the account indicating if they qualified for rewards during the qualification cycle .

If you do not meet the qualifications during a qualification cycle, your account will still function as a free checking account; however, your APY1 for that cycle will be 0.05% instead of 2.50% and you will not receive ATM refunds.

A posted and settled transaction means that the transaction amount has been deducted from your account. Remember, it can take several days for a transaction to post and settle. Since it may take a week or more for purchases to post to your account, we recommend we you make your purchases several days before the end of the month.


Disclosures

1 APY is Annual Percentage Yield. Rates are accurate as of the last dividend declaration date and may change after the account is opened. Fees or other conditions could reduce earnings on the account. Rates are earned when qualifications are met. APY is paid on balances up to $10,000 and the non-qualifying APY is paid on the balance over $10,000 for each qualification cycle that the qualifications are met.

2 Nationwide ATM fee refunds are rewarded when qualifications are met.

3 To receive your $100 deposit and give $100 to your selected School District/Foundation, you must meet qualifications in any of the first three full qualification cycles after your account is opened. To earn the 2.50% APY on balances up to $10,000 and get the ATM refunds, you must meet qualifications each qualification cycle. To meet qualifications, 12 debit card transactions must post and settle to the account during the qualification cycle, at lease one direct deposit or automatic payment must post and settle this account during the qualification cycle, and you must be enrolled in and agree to receive eStatement notices during the qualification cycle.