The Page Valley Bank is offering a reward checking account that pays 4.25% APY for balances up to $25K (1.01% over) 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 direct debit, 3) enroll and receive electronic statements, and 4) access online banking. If these requirements are not met, the rate falls to 0.10%. The account requires a minimum initial deposit of $100. There are no minimum balance requirements.
Update 7/04/09: A branch visit is required to open an account. In addition, a reader has reported that it's only offered in Page County, and it's not available to those in northern Virginia.
Branches are located in Luray, Shenandoah and McGaheysville. The bank is FDIC insured (Certificate # 6872).
Other Reward Checking Accounts
For other reward checking accounts in other parts of the country, please see my reward checking account page and my best checking account post.
08/14/09: 4.25% APY up to $25K
01/26/09: 5.01% APY up to $25K
10/28/07: 6.01% APY up to $25K; 1.01% APY over $25K; 0.10% if requirements not met