I wouldn't be concerned about the hard pull. I don't think it affects your credit the same as a loan application. However, there are similar accounts that don't require a pull (you can try kasasa.com).
I have 2 accounts of this type to manage my cash. If this one is similar, beware you need to keep careful track of the statement cycles and how many debit card purchases you have made during each statement cycle. One of my accounts requires 10, the other 12. I do tiny purchases with them (cup of coffee, pack of gum, etc.), using the rewards cards for the significant purchases thereby optimizing rewards. As a result, I earn an average of 2.75% on my cash.