Sierra Reward Checking
With Sierra Reward Checking, you get more than just a free checking account. You also get an account that pays you back -- with a sky high interest rate, no monthly service charge, monthly Sierra eStatements, and so much more.*
- Features
- Earn 0.89% APY on balances up to $25,000 1*
- Earn 0.25% APY on balances above $25,000 1*
- If monthly qualifications are not met, you still earn 0.05% APY*
- Reimburses up to $25.00 in ATM fees nationwide per statement cycle 1 3 4
- Free Sierra eStatement every month
- Free Sierra Bill Pay
- Free Sierra Check Card
- No monthly service charge
- No minimum deposit required
- Overdraft protection available with a savings account or apply for a line or credit. 2
Qualifications:
- Minimum 12 Sierra Check Card purchases per qualification period 3 (Purchases must be posted and cleared -- excludes ATM transactions)
- Minimum one direct deposit or automatic payment from your account per qualification period 3 (must be posted and cleared). Intra-bank transfers do not count as qualifying for Direct Deposit or ACH automatic payment.
- Make at least one payment using Sierra BillPay per qualification period 3 (must be posted and cleared)
- Enroll & receive Sierra eStatements
- Must be opened online
1When you meet the minimum qualifications for that statement cycle. Your qualifying transactions must be posted during the qualification period. Transactions may take one or more business days to post and clear to an account from the date the transaction is made.
2Subject to Bank approval
3Statement period ends the first Thursday of every month with the qualifying period ending the business day prior, meaning that the qualifying number of days will vary from month to month
4We make our best effort to identify those ATM fees eligible for reimbursement, based on information received from card networks and ATM operators. In the event that you did not receive a reimbursement for a fee that you believe is eligible, please call a Customer Service Representative for assistance
*Annual Percentage Yield (APY) accurate as of September 7, 2012. Rate tiers are as follows: 0.89% applies to balances of $.01 - $25,000 and 0.25% paid on balances over $25,000 as long as qualifications are met each statement cycle. 0.05% will be earned on all balances if qualifications are not met. All balances will earn 0.25% - 0.89% as long as qualifications are met. Variable Rate Account. Rates may change after the account is opened. Fees may reduce earnings. If you close your account before interest is credited, you forfeit the interest. The annual percentage yield (APY) disclosed assumes that interest earned in the Sierra Reward Checking account compounds. However, if you elect to open a Sierra Reward Savings account and it is linked to this Sierra Reward Checking account, the interest earned in your associated Sierra Reward Checking is automatically transferred into your Sierra Reward Savings account on the first business day after your statement cycle and therefore does not remain in your Sierra Reward Checking account and does not compound. Additionally, you understand that the interest amount earned in the Sierra Reward Savings account may be less than the interest amount earned in the Sierra Reward Checking account. We use the daily collected balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. For accrual on noncash deposits, interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
Sierra Reward Checking accounts are offered exclusively for California residents and must be opened online. This account is to be used for personal, family, or household purposes and is limited to two accounts per household.
New accounts funded by credit card transactions will be treated as a cash advance and your credit card issuer may impose a cash advance fee. Please contact your credit card issuer if you have a concern regarding a cash advance fee.
