State Bank of Countryside has a reward checking account called Best Ever Checking that pays 3.58% APY on balances up to $25,000 (0.58% for above) and refunds ATM fees (up to $25 per cycle) if the following monthly requirements are met: 1) 10 debit card transactions, 2) one direct deposit or ACH auto debit, and 3) receive electronic statements. If these are not met, the rate falls to 0.08%. There are no monthly service charges. The minimum opening deposit is $5, and a $5 minimum balance must be maintained.
It appears likely that they require a branch visit to open accounts. I've reported on many reward checking accounts from other Illinois banks, but this is the first that has offices in Chicago and its suburbs. The bank has been FDIC insured since 1975 (FDIC Certificate # 21952).
For other high yield reward checking accounts and to learn more about these accounts, please refer to my High Yield Checking website.
Thanks to the FW member who posted on this reward checking account in this Fatwallet thread.
10/23/09: 3.58% APY up to $25K; 0.58% over; 0.08% base
09/01/09: 3.58% APY up to $25K
04/28/09: 4.08% APY up to $25K
04/13/08: 5.08% APY up to $25K; 1.08% over; 0.18% base