Is there a limit to the number of transactions I can make per month?
No, there is no limit to the number of transactions you can make each month.
How is the interest calculated?
Interest is compounded daily and deposited into your account on the 10th of each month (unless it falls on a holiday or a weekend, then the interest is deposited on the business day before) based on your daily balance and satisfying the point of sale eligible transactions requirements per statement cycle.
How often can the interest rate change?
We may change the interest rate on your account at any time without notice.
What happens if I don’t meet the qualifying transaction requirements for the APY?
If you do not meet the qualifying transaction requirements, your account will earn interest at the default rate of 0.01% APY.
What are not considered a qualifying transactions?
ATM- processed transactions; transfers between accounts; purchases made with debit cards not issued by our bank; cash over portions of point-of-sale transactions; Peer-to-Peer (P2P) payments (such as Apple Pay Cash*); loan payments or account funding made with your debit card and purchases made using third-party payment accounts.
Are there any requirements to earn the advertised Annual Percentage Yield (APY)?
Earn the current APY on all balance tiers when you make at least 10 qualifying debit card point of sale transactions of $10 or more per statement cycle. Failure to make qualifying transactions will result in 0.01% interest and APY.