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 Reward Checking


Accounts: Rewards Checking

 

Reward Checking

Requirements:

  • Minimum balance to open = $1.00
  • Consumer accounts only

Benefits:

  • Earn interest on your checking account balance.
  • If your account meets the monthly qualification requirements detailed below:
    • Earn a higher interest rate on balances up to $15,000 (effective January 1, 2014 this will reduce to $10,000) and
    • earn a lower rate on balances above the threshold described above.
    • Automatic ATM fee refunds up to $30.00
  • If your account DOES NOT meet the monthly qualification requirements detailed below, your account will earn the lower interest rate.
  • Free single wallet bank stock checks
  • No monthly account fee
  • No minimum balance
     

Qualification Requirements::

All three (3) of the following qualifications must be met during the monthly qualification cycle (calendar month) in order to qualify for the benefits described above:
  1. Enroll in e-statements – You will not meet the requirements for #1 if you request a paper statement by mail.
  2. Make at least ten (10) debit card purchases that post and settle to your account. Examples of transactions that qualify are swiping your debit card as debit or credit at the grocery store, gas station, restaurant, etc. Examples of transactions that do not qualify include electronic check conversions, preauthorized debits or ATM withdrawals.
  3. Have at least one (1) automatic payment (ACH) or direct deposit that posts and settles to your account. Examples of transactions that qualify are direct deposit of your paycheck or auto debit of your monthly utility bill. Examples of transactions that do not qualify include online transfers, interest payment, point of sale or debit card transactions, wire transfers, provisional credit, electronic check conversion, adjustments, preauthorized transfer (customer originated), internal loan payment to First State Bank, online bill pay or refund of an NSF or OD item.

If monthly qualifications are not met, your account will earn the minimum rate on the account.

The qualification cycle is one calendar month (i.e. February 1 – February 28 or March 1 – March 31).

Reward Checking account statements are generated on the first business day of the month after the qualification cycle ends.

 

 

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