DNB First Bank has a rewards checking account that pays 3.50% APY on balances up to $35,000 (1.50% for above) and refunds ATM fees (up to $25 per cycle) if the following monthly requirements are met: 1) 10 check card transactions, 2) one direct deposit or ACH debit, and 3) receive electronic statements. If these are not met, the rate falls to 0.10%. There are no minimum balance requirements and no monthly fees.
It appears that a branch visit is required to open the account. Branches are located about 20 miles west of Philadelphia in the cities of Coatesville, West Chester, Downingtown, Exton, Kennett Square, and Chester Springs. The bank has been FDIC insured since 1934 (FDIC Certificate # 7464)
For other high yield reward checking accounts and to learn more about these accounts, please refer to my High Yield Checking website.
12/30/08: 3.50% APY for up to $35K, 1.50% for above, 0.10% if requirements not met
04/18/08: 4.25% APY for up to $35K, 2.25% for above, 0.20% if requirements not met