PerkStreet Financial

PerkStreet Financial was launched in 2009 with an unusual offering: checking accounts only and a debit card rewards program. The idea, according to the site, is to encourage people not to go into debt by charging purchases. Instead, customers earn cash back (between 1 percent and 5 percent) for non-PIN debit card purchases. The account is free, but there is a $4.50 per month inactivity fee.

PerkStreet is on PCMag.com's recent list of five top Internet banks; as the review puts it, "PerkStreet is all about the perks. You don't get an interest-generating checking account, but instead, checking with a… debit card that loads on the rewards."

PerkStreet makes extensive use of online and social media, including Facebook and Twitter, and hosts its own blog where customers share money-saving tips. Customers are also asked to weigh in on which merchants and categories will earn them PowerPerks (5 percent cash back); choices rotate monthly. In addition, even if you don't have an account with PerkStreet, you can sign up for free e-mail based courses on financial management.

There is no minimum to open an account, and customers can make free withdrawals from more than 42,000 ATMs in the STAR network; there is an ATM locator on PerkStreet's website. You can link your PerkStreet account to other bank accounts to transfer money, but checks must be mailed to PerkStreet for deposit; they do pay the postage, however.

Consumers are enthusiastic about PerkStreet; MyBankTracker.com reports that users give it the highest customer ratings of any bank on the site. Note, however, that PerkStreet is not really a bank, but its partnership with Bancorp Bank means that deposits are FDIC insured. ConsumerAffairs.com analyzed more than7,000 comments about PerkStreet on blogs, Facebook and Twitter, and it reports "a net sentiment in the 90% neighborhood towards year's end (2011), which is about as good as it gets."

NerdWallet.com has two positive reviews of PerkStreet, one more detailed than the other, and personal finance journalist Kevin Mulligan of GoodFinancialCents.com includes it on his list of the best online checking accounts.