First Arkansas Bank & Trust

Trying once again to beat the skimpy, less than .1% banks offer on savings accounts, we discovered First Arkansas Bank & Trust (FABT). They offer a generous 2.03% annual interest rate on their checking accounts. So you win 2 ways: you get more than 10X the rate of most savings accounts AND you have physical paper checks for when you have to pay someone in the old school method.  

The requirements for earning this monthly rate are fairly easy:  

. Have at least 12 debit card purchases post and clear. 

• Have at least 1 direct deposit, ACH automatic payment, or online bill pay post and clear 
• Receive electronic statements 

If your month qualifies, interest is paid out and all ATM fees up to $15.00 total are refunded. 

Another bonus for international nomads is no foreign exchange fee.   

We use their debit card for all our smaller purchases like coffee, fast food or a convenience store so we can meet the 12 POS requirement. We use our airline credit cards earning miles for all our larger purchases.  

The only weird hitch to keep in mind is maintaining your balance UNDER $30K. It sounds counter intuitive but they pay way less interest if your monthly balance is over this amount, somewhere in the basement of .01%! 

Here’s a link to their site:  1st FAB&T

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