Institution for Savings

BONUS CHECKING

FREQUENTLY ASKED QUESTIONS

1. What happens if I don't meet the requirements for Bonus Checking?
Instead of 4.00% APY, you will receive the base interest rate of .25% based on the average collected balance on your account for the statement period and your ATM fees will not be refunded. However, you can begin working immediately towards receiving those benefits in the next statement.

2. Are my checks still free?
Yes.

3. If I use my check card at an ATM, will that transaction count toward my 10 required check card transactions?
No. Only transactions used to purchase goods and services will qualify as a required check card transaction.

4. May I "carry forward" debit card transactions in excess of the 10 required check card transactions?
No. Requirements must be met during each statement cycle…then you start at 0 the following month.

5. Can I have a Bonus Checking account if I don't have a computer?
Computer access and a valid email address are required in order to have Bonus Checking because you need to be enrolled in Internet Banking and Bill Pay, and receive your statements electronically to qualify for the bonuses. If you do not have your own computer, you must at least have an email address and access to a computer to view your monthly statements online, pay bills, etc.

6. What if I need a printed copy of my statement and/or check image?
Statements can be printed or saved from your online access for approximately three months from the statement date. Images can be accessed and printed individually from your online account transactions during that time.

7. Can the interest rate change on my Bonus Checking account?
Yes. This is a variable rate account and the rate may change at any time.

8. If I qualify, when will I receive my benefits?
If you meet the criteria, you will receive the premium interest rate and your ATM fees will be refunded to you at the end of each statement date, which falls on the third Wednesday of each month. You must qualify by the end of the statement cycle, which ends at midnight on the third Tuesday of each month.

9. If I use another bank's ATM and pay a fee, how will I get a refund?
When you meet the requirements for Bonus Checking during a given statement period, a refund will be made to your account at the end of that statement period to a maximum of $20 per month. Only ATM fees in the US qualify for refunds.

10. Is there a minimum balance requirement in order to receive these benefits?
Yes: you must maintain a $500 minimum daily balance to receive these benefits. A $10 monthly fee will be assessed if your balance drops below $500.

11. What happens to my fund balance if it exceeds $50,000?
Funds in excess of $50,000 will be swept daily into a companion checking account, or swept back as your Bonus Checking balances dictates. The interest rate on funds in excess of $50,000 is 0.25% APY.

12. Will my statement cycle change?
Yes. Your new statement cycle will end at midnight on the 3rd Tuesday of each month and your combined statement will be cut on the next day (the 3rd Wednesday). Though it may fall on a different date each month, it will always be the 3rd Wednesday.

13. Will I be able to use my existing Institution for Savings Visa Debit Card with Bonus Checking or do I need to get a new one?
You can use your existing card.

14.If I already have an Institution for Savings checking account, can I convert it to a Bonus Checking account?
Yes, please consult with a Customer Service Representative to do this.

15.Will my business account qualify for Bonus Checking?
No, this account is for personal customers only.