Hometown Reward Checking *5.01 Annual Percentage Yield (APY) paid on all daily balances $0-$70,000.00 and 3.30% APY* paid on daily balances $70,000.01 and above each cycle if the minimum requirements are met.(This account earns only 0.25% APY standard rate if requirements are not met) No minimum balance. To earn the Bonus Rate, perform all of the following requirements each cycle: **Free ATM Refunds up to $25.00 per cycle. Include all transaction fees charged when using another bank’s ATM. ATM fee refunds are automatic and receipts are not required to receive refunds. NO REIMBURSEMENT FOR FOREIGN COUNTRY ATM FEES. Filled out application on-line. Received Account Number and welcome package in the mail -- required to notarize two slips of paper and sign the account agreement and Debit Card application. Send back with your deposit. Sign up for internet banking as soon as you get your account number in the mail as they require you to fill out a short confirmation form indicating you signed up for internet banking before they give you access to the internet banking. You will not get your Debit card until up to four weeks after you send back their application. I received my card in 3 weeks. I registered for the internet/electronic statement access. You have to do that manually with your account number. Remember you need to have electronic statements to get the great rate so don't forget to do this. After "registering" with username and password and security question it thanks you and says your application is awaiting approval. They are using "fundsXpress" for this part of their website. E-mail confirmation "You should get a confirmation as to your application status in the next 7 days." (I assume it was okay to apply before sending back my notarized forms, but we'll see). On 7/12 I received a form to acknowledge that my opening deposit was being held for 10 business days because it was used to open a new account. (Note ordinarily they claim checks will be available next business day and if not they will so inform you) Received the internet banking confirmation letter on 7/13 (It need not be notarized - it just gives you the logon name you chose and asks you to confirm that you signed up for the service, as part of the "know your customer" procedures). I faxed it 7/13 evening. I received an e-mail on 7/13 advising that I qualified for the period 7/9 through 7/12 for the reward rate. 7/9 was the "date of initial deposit". I asked for a second grace period as my interest was credited only 4 days (on the 13th) after my deposit was received and I still have/had not received my debit card. That was promptly granted. Note, they do not grant a second grace period to everybody. Its not worth making a large opening deposit, IMHO. Wait until you get the debit card before fully funding. Otherwise the risk is too great that you earn nothing on your money. On Monday, 7/16 I was finally given access to my account and was able to see my statement, including my opening deposit, two trial deposits plus my interest earned (credited on 7/13) for the few days the account was opened. You cannot "link" external accounts from within the Toledo Bank website. $8.56 fee for 100 standard checks. (The site provides images of canceled checks for download/printing). Am told that despite the terms and conditions statement to the contrary, the bill pay is free regardless of how often you use it. And, an ACH Push from GMAC takes 2 days to arrive and be credited to the account. (Exited GMAC on the 18th, arrived at Toledo on the 20th and is immediately available). They will "reset" your debit card to permit $500 in atm withdrawals rather than the $200 it defaults at. Just ask. I've had no trouble using my debit card at the atm (they rebate the $1.00 out of state fee as well as the 7 cent sales tax on that fee, if the reward requirements are met). Only real risk I see here is if you lose your debit card you may have difficulty making the 10 purchases, especially so if they cancel the card while issuing another. |
