Ultimate Savings
What does it take for a savings account to be ultimate? How about one that builds your savings for you. Out of thin air.
The account is linked to your free Ultimate Checking account. The massive 2.58% APY* and ATM fee refunds you earn from Ultimate Checking are automatically transferred to Ultimate Savings. What's even cooler is Ultimate Savings earns a rate way above the national savings average. In a word…ultimate!
- Summary
- No monthly service charge
- No minimum balance to earn rewards
- 1.00% APY* on balances up to $25,000 when qualifications are met
- 0.80% interest rate* on amount of balance over $25,000 (resulting in 0.84% – 1.00% APY depending on balance)
- 0.05% APY* on entire balance if qualifications aren't met
- Automatic deposit of earnings from Ultimate Checking: up to 2.58% APY* and nationwide ATM fee refunds*
- Free online banking
- Free online statements available
- Free ATM card
- Free telephone banking
- $100 minimum deposit to open
- FDIC insured
Qualifications
By qualifying for Ultimate Checking you automatically qualify for Ultimate Savings too.
- Have at least 12 debit card purchases post and clear each monthly qualification cycle
- Have at least one direct deposit or automatic payment each monthly qualification cycle
- Receive your bank statements online each monthly qualification cycle
Best of all, even if you don't qualify there's no punishment or loss of your account. Your Ultimate accounts are still completely free and will earn the base rate of 0.05% APY* on all balances. You can get right back to earning the full rewards the very next monthly qualification cycle.
Disclosure
And now, since our lawyers say we have to include an official disclosure, we present the same information in legalese.
*APY=Annual Percentage Yield. APYs accurate as of 1/23/13. Rates may change after account is opened. Minimum to open is $100 for Ultimate Checking and $100 for Ultimate Savings. For Ultimate Checking, if qualifications are met each monthly qualification cycle: (1)ATM fees incurred using Ultimate Checking debit card during qualification cycle will be reimbursed up to $25 and credited to account on the last day of monthly statement cycle; (2)If your daily balance is $15,000 or less, the interest rate paid on the entire balance will be 2.55% with an annual percentage yield of 2.58%; and (3)An interest rate of 0.80% will be paid only for that portion of your daily balance that is greater than $15,000. The annual percentage yield for this tier will range from 1.03% to 2.58%, depending on the balance in the account. When the Ultimate Checking qualifications are not met, the interest rate on your account will be 0.05% and the annual percentage yield will be 0.05%. Qualifying transactions must post to and clear Ultimate Checking account during monthly qualification cycle. Transactions may take one or more banking days from the date transaction was made to post to and clear account. "Monthly Qualification Cycle" means a period beginning one day prior to the first day of the current statement cycle through one day prior to the close of the current statement cycle. The advertised Ultimate Checking APY is based on compounding interest. Interest earned in Ultimate Checking is automatically transferred to Ultimate Savings each statement cycle and does not compound. Actual interest amount paid may be less than advertised Ultimate Checking APY. The Ultimate Savings APYs may be less than Ultimate Checking APYs. If qualifications in Ultimate Checking account are met each monthly qualification cycle: (1)If your daily balance is $25,000 or less, the interest rate paid on the entire balance will be 1.00% with an annual percentage yield of 1.00%; and (2)An interest rate of 0.80% will be paid only for that portion of your daily balance that is greater than $25,000. The annual percentage yield for this tier will range from 0.84% to 1.00%, depending on the balance in the account. When the Ultimate Checking qualifications are not met, the interest rate on your Ultimate Savings account will be 0.05% and the annual percentage yield will be 0.05%. Fees may reduce earnings. Limit one account per SSN.
