*EDIT* littleconsumer beat me to it.
Looks like will soon be dead for earning miles.
New changes rolling out effective June 1, 2015.
Airline Rewards Checking
Account Features:
- Earn 1 Mile/Point for every $ 3.00 Point-of-Sale (POS) debit transaction posted to your account.
- Miles/Points for your checking account is credited on a monthly basis.
- Miles/Points will be applied to your one designated participating Airline membership account within 60 days after the end of each month.
- Limited to earning 120,000 miles/points per calendar year.
- Merchants who accept Visa/MasterCard cards are assigned a merchant code which is determined by the merchant or its processor in accordance with Visa/MasterCard procedures based on the kinds of products and services they primarily sell. Bank of Internet cannot control how merchants choose to classify a transaction; Bank of Internet cannot guarantee a transaction will qualify. Purchases made at Super Markets, Super Stores, Grocery Stores, Wholesale Stores, Discount Stores, USPS, and financial or money transfer institutions are not eligible. Purchases made using virtual wallets, funds transfer services, or other similar technology are not eligible.
- If you close your account mid-cycle, your accrued Miles/Points will be forfeited. If your account is at zero at the end of your statement cycle, your accrued Miles/Points will be forfeited for that cycle and your account will be closed.
- The Bank has the right to change or cancel this rewards program at any time.
- Participating Airlines may change at any time.
- First order of personal checks (50-pack) free (if ordered at account opening)
- Unlimited ATM Fees Reimbursed (excludes International ATM transactions)
I apologize if this was already in their terms. I actually only use this for deposits and not to earn AA miles.