Q:  What are the requirements to earn 3.00% APY1 on my Vault Checking account?
A:  The account requirements are as follows:

• 10 Visa® debit card transactions each month totaling a minimum of $100 (excludes ATM transactions)
• Set up one monthly direct deposit or debit with $250 minimum
• Enroll in Personal Online Banking
• Download mobile banking app
• Receive eStatements²

Q:  Is this account FDIC insured?
A:  Yes, this account is FDIC insured up to $250,000.

Q:  What happens if I don’t meet the requirements for Vault Checking?
A:  If you have not met the requirements of the account, the interest rate and APY paid on the balance in your account will be 0.01%.

Q:  Can I “carry forward” check card transactions in excess of the 10 required Visa® Check Card transactions?
A:   No, requirements must be met within each statement period.

Q:  How can I convert my current CRBT checking account to a Vault Checking account?
A:  Contact any CRBT Account Executive at 319.862.2728 or visit any of our locations. They will assist you to make sure you have the correct account to best meet your needs.
 
Q:  Will I be able to use my existing Visa® Check Card from CRBT if I convert my account to Vault Checking?
A:  Yes, you will be able to use your existing Visa® Check Card.  Also, your account number, checks, online banking, automatic withdrawals and direct deposits will be carried over to your Vault Checking account.

Q:  Will the ACH transactions that were attached to my old CRBT account automatically transfer over to my new Vault Checking account?
A:  Yes, you will not have to re-initiate these transactions.

Q:  Do I receive 3.00% APY1 on my total balance?
A:  You receive 3.00% APY1 on balances of $10,000 or less.

Q:  Will transactions from the statement cycle on my old CRBT account be allowed as required transactions for my new Vault Checking for this statement period?
A:  No, you will not be allowed to carry over transactions as required transactions for the existing statement cycle.

Q:  Will the prior history from my transferred CRBT account be viewable on online banking?
A:  Yes, this information will transfer over to your Vault Checking account.

Q:  Will my statement cycle/period change?
A:  Possibly. Your Vault Checking statement period will start on the first day of the month and end on the last business day of the month. All Visa check card transactions (excludes ATM transactions) that occur during the statement cycle will count towards the required transactions.

Q:   Is there a minimum balance requirement?
A:  No, there is no minimum balance requirement. However, there is a $100 minimum balance requirement to open your account.

Q:   If I qualify, when will I receive my interest?
A:  You will receive your interest at the end of each statement cycle, which is the last business day of each month.

Q:  Do I receive 3.00% APY1 on my total balance?
A: You can receive 3.00% APY1 on balances of $10,000 or less as long as you have met the account requirements.

Q:  What about balances over $10,000.01?
A:  An interest rate of .10% will be paid only for that portion of your daily balance that is greater than $10,000.01. The APY range for this tier will be 3.00% to 0.22%. Regardless of your balance, if you do not meet the requirements listed, the interest rate and APY will be 0.01%.

Q:  Can the interest rate change on my Vault Checking account?
A:  Yes, this is a variable rate account and the rate may change at any time at our discretion.

Q:  How is my interest calculated?
A:  Interest is compounded monthly and will be credited to the account monthly. We use the average daily balance method to calculate the interest.  This method applies a daily periodic rate to the average daily balance in the account for the statement cycle.

Q:  If I use my Visa® Check Card at an ATM and enter my PIN, will that transaction count toward my 10 required transactions?
A:  No, ATM transactions do not count toward this total.

Q:  How do I know whether to select “credit” or “debit” at a merchant?
A:  CRBT prefers that you run your transactions as credit-based. To do so, please inform the merchant that you would like to use the “credit” function of your card and have them process as a “credit” transaction.

Q:  What if I use my check card at a merchant and they ask me to input my PIN #?
A:  Inform the merchant that you would prefer to use the “credit” function of your card and have them process it as a “credit” transaction.

Q:  What if I’m at a merchant and they do not ask me to sign or enter a PIN #?
A:  Some merchants have made the decision to not require a PIN or a signature for small dollar items. In this case, this transaction will count towards your 10 transactions per month.  

Q:  If I use another bank’s ATM and pay a fee, will I receive a refund?
A:  No. However, you have access to a network of surcharge-free ATMs through CRBT’s affiliation with the Shazam Privileged Status Network. The network includes approximately 1,000 ATMs nationwide and over 100 in the greater Cedar Rapids area. Just look for ATMs that display the Privileged Status logo or visit https://www.shazam.net/atms/.