High Yield Checking
A CapEd High Yield Checking™ Account earns more than regular checking account with 5.25% APY1. Plus, you can support local schools with the Get $100 & Give $100 Program!
How does a High Yield Checking account benefit me?
When qualifications are met, a CapEd High Yield Checking account rewards you with 5.25% 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 5.25% 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 of $500 or more must post and settle your High Yield Checking account each qualification cycle
- At least twelve debit card purchases of $5 or more must post and settle 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) | 5.13% | 5.25% |
| Over $10,000 (qualifications met) | 0.10% | 0.10% |
| $0 - $10,000 (qualifications not met) | 0.01% | 0.01% |
| Over $10,000 (qualifications not met) | 0.01% | 0.01% |
Boost Your Savings With High Yield Checking™+
CapEd's High Yield Checking™+ helps you save more. Rewards from a High Yield Checking™+ account will be deposited into a High Yield Savings account and earn 4.00% APY3 for balances up to $50,000 with no minimum balance or hidden fees. Limit one High Yield Checking™+ account per social security number.
| Balance | Dividend Rate | APY3 |
|---|---|---|
| $0 - $50,000 (qualifications met) | 3.928% | 4.00% |
| Over $50,000 (qualifications met) | 0.10% | 0.10% |
| $0 - $50,000 (qualifications not met) | 0.01% | 0.01% |
| Over $50,000 (qualifications not met) | 0.01% | 0.01% |
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 Request Form. Opens in new tab..
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 choice4. It's a win-win for you and education! Learn more about the Get $100 & Give $100 Program.
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.
FAQs
Yes, you can open multiple CapEd High Yield Checking Accounts.
Members receive monthly emails to the email address associated with the account indicating if they qualified for rewards during the qualification cycle .
No, only debit card purchase transactions count.
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 0.01% instead of 5.25% 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 you make your purchases several days before the end of the month.