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Kasasa Accounts Disclosure

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2 KASASA ACCOUNTS DISCLOSURE

$100 minimum deposit required to open CashReward, CashBack and Saver accounts.  No recurring monthly service charges or fees.  No minimum balance is required to obtain reward or bonus.  Limit 1 account per social security number. Kasasa checking account products auto-qualify the first cycle. For Saver, a condition of account is to have a linked CashReward or CashBack account and be linked for automatic savings and rewards.  

Account transactions and activities may take one or more days to post and settle to the account and all must do so during the Monthly Qualification Cycle in order to qualify for the account’s rewards. The following activities do not count toward earning account rewards: ATM-processed transactions, transfers between accounts, debit and credit card purchases processed by merchants and received by our bank as ATM transactions, non-retail payment transactions and purchases made with debit or credit cards not issued by our bank. Transactions bundled together by merchants and received by our institution as a single transaction count as a single transaction for the purpose of earning account rewards. “Monthly Qualification Cycle” means a period beginning one (1) business day prior to the first day of the current statement cycle through one (1) business day prior to the close of the current statement cycle. For ATM reimbursements, an ATM receipt must be presented for reimbursements of individual ATM withdrawal fees of [$4.99] or higher. We reimburse ATM withdrawal fees based on estimates when the withdrawal information we receive does not identify the ATM fee. If you have not received an appropriate reimbursement, we will adjust the reimbursement amount if we receive the transaction receipt within sixty (60) calendar days of the withdrawal transaction.

 

Purpose and Expected Use of Account.

This account is intended to be the accountholder’s primary checking account in which payroll transactions and day-to-day spending activities including but not limited to grocery, gasoline, apparel, shopping, dining, sporting, and entertainment transactions are posted and settled.

Commensurate with the spending activities identified above, we expect the account's debit card to be used frequently throughout each month and for transaction amounts to reflect a wide dollar range. Small debit card transactions conducted on the same day at a single merchant and/or multiple transactions made during a condensed time period particularly near the end of a Monthly Qualification Cycle are not considered normal, day-to-day spending behavior. For example, five debit card transactions, each for a dollar, conducted at a convenience store, two days before the end of the cycle period would not be considered by our institution as normal, day-to-day spending behavior. These types of transactions appear to be conducted with the sole purpose of qualifying for the account's rewards and thus will be deemed inappropriate transactions and will not count toward earning the account's rewards.

Bank 34 reserves the right to determine if the account is being maintained for a purpose other than day-to-day, primary use. Accountholders who persist in making debit card transactions in a calculated and limited fashion in order to meet their monthly qualifications may have their accounts converted to a different checking account or closed altogether. We also reserve the right to convert the account to a different checking account if the account does not have consistent active use over [04] consecutive Statement Cycles.

We have the right to close this account at any time, with proper notice. Our decision to close the account will not affect your existing obligations to us including any obligation to pay fees or charges incurred prior to termination. No deposits will be accepted, and no checks will be paid after the account is closed. If the account is closed, you will forfeit any rewards that have not been credited to your account. A Bank 34 check for the remaining balance, if applicable, will be mailed to accountholder at the address indicated on our current records. Upon termination of your Kasasa account, any optional add-on products / services associated with this account will also be terminated at the same time.

 

Qualifications and Rewards vary by account.

Depending on what Kasasa account you open, you will receive one of the following rewards when you meet your account’s qualifications during a Monthly Qualification Cycle: Interest on your checking balances (Kasasa CashReward) or Cash back on debit card purchases (Kasasa CashBack). When your Kasasa account qualifications are not met, only non-qualifying interest is earned in the interest bearing accounts and all other reward distributions are not made. Rewards will be credited to your Kasasa account on the last business day of the current statement cycle.  

See qualifications and rewards of specific account below.

 

 

Qualification information for Kasasa CashReward Checking:

For CashReward, monthly [12 debit card swipes minimum PIN or SIG] that post and settle to the account during that cycle period, [1 ACH auto debit or credit], [enroll and receipt of electronic statements] are qualifiers of this account.  Reward information: For CashReward, when your CashReward account qualifications are met during a Monthly Qualification Cycle, (1) balances up to [$25,000] receive [1.4898%] IR/[1.50%] APY; and balances over [$25,000] earn [0.1998%] IR/ [0.20%] APY on the portion of balance over [$25,000], resulting in a blended range from [1.50%] to [0.46%] APY depending on the account’s balance and (2) you will receive reimbursements [up to an aggregate total of $25.00] with [max. $4.99 per single transaction] for nationwide ATM withdrawal fees imposed by other financial institutions and incurred during the Monthly Qualification Cycle in which you qualified.  Interest and ATM withdrawal fee reimbursements will be credited to your CashReward account on the last business day of the current statement cycle. Qualifications not met: When CashReward qualifications are not met, all balances in the account still earn [0.02%] IR/ [0.02%] APY and ATM withdrawal fees are not refunded.  Account is still free and can still try again the next month to earn the rewards.  See additional ²KASASA ACCOUNTS DISCLOSURE.             

 

Qualification information for Kasasa CashReward Checking with Saver:

For Kasasa CashReward, monthly [12 debit card swipes minimum PIN or SIG] that post and settle to the account during that cycle period, [1 ACH auto debit or credit], [enroll and receipt of electronic statements] are qualifiers of this account. For Saver, simply qualify in Kasasa CashReward.  Reward information for Kasasa CashReward, when your Kasasa CashReward account qualifications are met during a Monthly Qualification Cycle, (1) balances up to [$25,000] receive [1.4898%] IR/[1.50%] APY; and balances over [$25,000] earn [0.1998%] IR/ [0.20%] APY on the portion of balance over [$25,000], resulting in a blended range from [1.50%] to [0.46%] APY depending on the account’s balance and (2) you will receive reimbursements [up to an aggregate total of $25.00] with [max. $4.99 per single transaction] for nationwide ATM withdrawal fees imposed by other financial institutions and incurred during the Monthly Qualification Cycle in which you qualified.  Interest and ATM withdrawal fee reimbursements will be credited to your Kasasa CashReward account on the last business day of the current statement cycle. Reward information for Saver, when Kasasa CashReward account qualifications are met during a Monthly Qualification Cycle, the following rewards will be distributed to your account(s) on the last business day of the current statement cycle.  Saver balances up to [$50,000] receive [0.4989%] IR/ [0.50%] APY; and balances over [$50,000] earn [0.1998%] IR on the portion of balance over [$50,000], resulting in a range from [0.50%] to [0.26%] APY depending on the account’s balance. When Kasasa CashReward is linked to the Saver account, the interest earned within the Kasasa CashReward account does not compound since it is automatically transferred to the Saver account within one processing day. This automatic transfer may cause an overdraft to your Kasasa CashReward account if the account’s balance is less than the transferred amount when transfer occurs.  Qualifications not met: When Kasasa CashReward qualifications are not met, all balances in the Kasasa CashReward account still earn [0.02%] IR/ [0.02%] APY and ATM withdrawal fees are not refunded. Saver balances still earn [0.02%] IR/ [0.02%] APY.  Account is still free and can still try again the next month to earn the rewards.  ²KASASA ACCOUNTS DISCLOSURE.   

 

Qualification information for Kasasa CashBack Checking:

For CashBack, monthly [12 debit card swipes minimum PIN or SIG], [1 ACH auto debit or credit], [enroll and receipt of electronic statements] are qualifiers of this account.  Reward information: For CashBack, when Kasasa CashBack qualifications are met during a Monthly Qualification Cycle, you will receive (1) [3.00%] cash back on up to a total of [$250.00] debit card purchases that post and settle to the account during that cycle period, (2) up to a maximum of [$7.50] cash back may be earned per Monthly Qualification Cycle. (3) You will also receive reimbursements [up to an aggregate total of $25.00] with [max. $4.99 per single transaction] for nationwide ATM withdrawal fees imposed by other financial institutions and incurred during the Monthly Qualification Cycle in which you qualified. Cash back payments and ATM fee reimbursements will be credited to your Kasasa CashBack account on the last business day of current statement cycle.  Qualifications not met: When Kasasa CashBack qualifications are not met, no cash back payments are made and ATM fees are not refunded. Account is still free and can still try again the next month to earn the rewards.  See additional ²KASASA ACCOUNTS DISCLOSURE.            

 

Qualification information for Kasasa CashBack Checking with Saver

For Kasasa CashBack, monthly [12 debit card swipes minimum PIN or SIG], [1 ACH auto debit or credit], [enroll and receipt of electronic statements] are qualifiers of this account.  For Saver, simply qualify in Kasasa CashBack. Reward information for Kasasa CashBack, when Kasasa CashBack qualifications are met during a Monthly Qualification Cycle, you will receive (1) [3.00%] cash back on up to a total of [$250.00] debit card purchases that post and settle to the account during that cycle period, (2) up to a maximum of [$7.50] cash back may be earned per Monthly Qualification Cycle. (3) You will also receive reimbursements [up to an aggregate total of $25.00] with [max. $4.99 per single transaction] for nationwide ATM withdrawal fees imposed by other financial institutions and incurred during the Monthly Qualification Cycle in which you qualified. Cash back payments and ATM fee reimbursements will be credited to your Kasasa CashBack account on the last business day of current statement cycle.  Reward information for Saver, when Kasasa CashBack account qualifications are met during a Monthly Qualification Cycle, the following rewards will be distributed to your account(s) on the last business day of the current statement cycle.  Saver balances up to [$50,000] receive [0.4989%] IR/ [0.50%] APY; and balances over [$50,000] earn [0.1998%] IR on the portion of balance over [$50,000], resulting in a range from [0.50%] to [0.26%] APY depending on the account’s balance.  Qualifications not met: When Kasasa CashBack qualifications are not met, no cash back payments are made and ATM fees are not refunded. Saver balances still earn [0.02%] IR/ [0.02%] APY.  Account is still free and can still try again the next month to earn the rewards.  See additional ²KASASA ACCOUNTS DISCLOSURE.

 

Qualification information for Saver: 

For Saver, a condition of this account is to have a linked Kasasa CashReward or Kasasa CashBack account for automatic savings and rewards.   Reward information:  When Kasasa CashReward or Kasasa CashBack account qualifications are met during a Monthly Qualification Cycle, the following rewards will be distributed to your account(s) on the last business day of the current statement cycle.  Saver balances up to [$50,000] receive [0.4989%] IR/ [0.50%] APY; and balances over [$50,000] earn [0.1998%] IR on the portion of balance over [$50,000], resulting in a range from [0.50%] to [0.26%] APY depending on the account’s balance. When Kasasa CashReward is linked to the Saver account, the interest earned within the Kasasa CashReward account does not compound since it is automatically transferred to the Saver account within one processing day. This automatic transfer may cause an overdraft to your Kasasa CashReward account if the account’s balance is less than the transferred amount when transfer occurs.  Qualifications not met:  Saver balances still earn [0.02%] IR/ [0.02%] APY.  Account is still free and can still try again the next month to earn the rewards.  See additional ²KASASA ACCOUNTS DISCLOSURE.            

 

Kasasa and Kasasa Cash are trademarks of Kasasa, Ltd., registered in the U.S.A.

IR=Interest Rate/APY = Annual Percentage Yield. Rates and rewards are variable and may change after account is opened. Fees may reduce earnings. Rate is calculated on current balance (not available balance) on Kasasa Accounts.  Account approval, conditions, qualifications, limits, timeframes, enrollments, and other requirements apply. Contact one of our bank service representatives for additional information, details, restrictions, processing limitations and enrollment instructions.

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