Click on the links below to expand the tiles and learn more about Rewards Checking!

• Is there a monthly service fee for Rewards Checking?
  • No, there is never a monthly service fee.

• Are Rivermark ATM fees also refunded?
  • Yes. Rivermark ATM fees on Rewards Checking will be refunded up to a maximum of $25 per month when you meet the requirements. 
  • Each month, the first five non-Rivermark ATM transactions are free. After that, a $1.50 fee applies. This fee will appear on your account at the time of the transaction, but like all other non-Rivermark ATM fees, fees will be refunded on the last day of the month when you meet requirements.
  • Savings account ATM fees are not refunded.

• Is direct deposit required?
  • No, but we highly recommend it. Members with direct deposit will earn dividends faster.

• Is there a minimum balance requirement?
  • No. There is no minimum balance requirement to earn APY, to avoid a fee or to receive rewards.

• What if I do not meet the requirements for Rewards Checking?
  • You will receive 0.10% APY* on your entire Rewards Checking balance and your ATM fees will not be refunded for that month.
  • You will still have a great free checking account and a fresh chance to earn your rewards again the next month.

• When will I receive my rewards payout (interest and ATM refunds)?
  • Your rewards will be deposited to your account on the last day of the month in which it was earned.

• Is there a maximum balance requirement?
  • No, you can deposit as much as you like, however balances over $25,000 earn 0.25% APY*

• How will I know that I have qualified for rewards (high rate and ATM fee refunds)?
  • You will receive a monthly e-mail that lets you know whether you qualified or not.

• Can the interest rate on my Rewards Checking account change?
  • Yes. The rate may change at any time based on financial and market conditions.
  • However, Rewards Checking is designed to be a high-yield account. 

• During what time period must I meet the requirements (Click to view Requirements Cycle table)
  • The requirements cycle ends two days before the last day of the month.
    
    

    Cycle Begins	Cycle Ends
    Dec 30	Jan 29
    Jan 30	Feb 26
    Feb 28	Mar 29
    Mar 30	Apr 28
    Apr 29	May 29
    May 30	Jun 28
    Jun 29	Jul 29
    Jul 30	Aug 29
    Aug 30	Sep 28
    Sep 29	Oct 29
    Oct 30	Nov 28
    Nov 29	Dec 29

• Is the cycle for Rewards requirements different than the cycle for my account statement?
  • Yes. Your statement reflects transactions from the first day of the month to the last day of the month.

• How much do I need to open Rewards Checking?
  • $20
  • Existing members with checking do not need to deposit any additional funds.

• Is Rewards Checking federally insured?
  • Yes. Rewards Checking is federally insured by NCUA up to at least $250,000.

• When will I receive my first rewards after opening my account?
  • You will receive rewards in the first month in which you meet the requirements.
  • If your account is opened late in the month, you may not have time to meet the requirements until the following month.

• Do I have to do anything to receive my ATM refunds?
  • No. When you meet the requirements, you will receive a refund of all ATM fees and surcharges automatically on the last day of the month.

• Do I need to perform any transactions within Online Banking to meet the requirements?
  • No. You only need to log in once per month (viewing your E-Statement online would fulfill this requirement).

• If I have more than 12 debit transactions in one month, can I carry them forward to count toward the next month? 
  • No. Your debit card transaction count will start over each month (with the Requirements cycle).

• What if I use my debit card and the transaction posts to my Rewards Checking Account three days later? Does the purchase date or the posting date count toward the requirement?
  
  • The Posting Date: For example, if you initiated a transaction on June 27, but it didn’t appear in your account history until July 2, it would count as a July transaction.
  • Most transactions post within three days but it depends on the merchant’s processing systems.

• If my account balance goes negative, will I still qualify for rewards?
  • Yes, as long as the requirements are met, you will receive your rewards.

• I already have a Rivermark checking account. Do I need to complete any paperwork to open Rewards Checking?
  • No. Just give us a call or stop in any Rivermark branch.
  If you are a member without a checking account, you will complete a short “Account Changes and Additions” form.

• Can I use my existing debit card, checks, and account number with my Rewards Checking account?
  • Yes.

• Will the transactions on my old checking account count towards meeting the requirements for my new Rewards Checking account?
  • No.
  Transactions will be counted starting the day your account type becomes Rewards Checking.

• Will I notice any changes in Online Banking? Will I need to update my recurring bill payments and transfers?
  • No. You will not notice any change in Online Banking.
  • You will retain all of your existing Online Banking set-ups for bill payments and transfers.
  • Your checking account will retain a continuous account history, however, the account name will change to “Rewards Checking.”