First National Bank is offering a reward checking account called the First Reward Checking Account. It pays 3.29% APY on balances up to $25,000 (1.01% over) and offers automatic refunds of ATM fees if the typical reward checking requirements are met: 1) 10 check card transactions per cycle, 2) ACH auto debit or direct deposit and 3) receive electronic statements. If these requirements are not met, no interest is paid and no ATM fees are refunded. There is no minimum balance to maintain account and no service charges regardless of meeting the requirements.
I contacted the bank yesterday and was told that a branch visit is required to open the account. Branches are located in the Arkansas cities of Walnut Ridge, Hoxie, and Pocahontas. The bank is FDIC insured (FDIC Certificate # 3896).
For other reward checking accounts in other parts of the country, please see my reward checking account page and my best checking account post.
10/01/09: 3.29% APY up to $25K (Rates are not on website. Update was based on email. Rate had changed some time ago.)
03/27/08: 5.09% APY up to $25K
06/29/07: 6.15% APY up to $25K; 1.01% over