Update 3/28/09: The top yield has fallen to 3.01% APY. Refer to the bottom of the post for the rate history.
Haverhill Bank has a reward checking account that pays 3.01% APY on balances up to $50,000 (1.01% for over) and refunds ATM fees if the following monthly requirements are met: 1) 10 debit card transactions, 2) one direct deposit or ACH auto debit, 3) access online banking, and 4) receive electronic statements. If these are not met, the rate falls to 0.15%.
As is common for reward checking accounts in Massachusetts, this one has a high cap of $100K in which you can earn the high yield. The average cap is $25K.
It appears that a branch visit is required to open an account. Branches are located in the MA cities of Haverhill and Bradford. The bank is FDIC insured (Certificate # 26411).
Other High Yield Reward Checking Accounts
For more information on reward checking accounts, please refer to one of these posts: reward checking overview, list of reward checking accounts around the nation, and the best checking account post.
03/15/09: 3.01% up to $50K; 1.01% over $50K
12/25/08: 3.51% up to $50K; 1.51% over $50K
03/31/08: 4.50% up to $50K; 2.50% over $50K
12/26/07: 6.01% up to $100K; 1.01% over $100K