MrNovember said:DavidScubadiver said:glxpass said:So it appears that the wording shouldn't be on the order of meeting the ACH and check card transaction requirements monthly, and shouldn't attempt to define a qualification period different from the statement period. Instead, the wording should state that the ACH and check card transactions should post during a given statement cycle in order to meet those requirements for that statement cycle.this is what they wrote: "The statement cycle ends on the second to last day of the month. The
cycle for April is from March 29th - April 29, May's statement cycle is
from April 30 - May 29th." And since it was 3 days befor this cycle, if 2nd to last day is a weekend, roll it back to first business day before 2nd to last day. In any case, get them done by the 25th and you should be golden.

So let me get this straight... Fulfill requirements for each cycle by doing them from the 1st to the 25th of each month, and you're all set with no ifs ands or buts?
IMO, the 25th is too close for comfort because it could take up to 3 days for a transaction to post, and the cycle ends with the second to last business day of the month. If 2/28 is a Monday, then 2/25 is the cycle-end date. Why not make all transactions by, say, the 20th, and have no worries, regardless of the month? You still have a a few more days if you really need it, but I'm superconservative about these things.

I haven't read the entire thread-any charge for checks?

How long after they sent you the online access before you receive the ATM/Debit Card?

i just signed up online. It's quite simple. But how can I make the initial deposit by mail? There is only a mail address listed, not form, no insturction. Shall I wait until I get the documents from them before I mail any check?

I also live in northeast and had pretty much the same experience. They are slow but their stuff is very friendly and helpful. Hope their 6.01% can last long.

umafuaba said:tambun said:How long after they sent you the online access before you receive the ATM/Debit Card?

This information has already been posted by me. I live in the Northeast, so time frames might be different for other geographic locations.

February 29 - Applied online
March 14 - received signature page and check request form, as well as pre-paid postage envelope for the return
March 15 - using my account number that I received in the mail with signature page, I signed up for online banking on the website
March 20 - gained access to online banking via email notification
March 28 - received my Debit card in the mail
March 31 - received the PIN in the mail

Is there some way to automate the 10 mandatory debit transactions? I can add 3 or 4 auto-debits in the form of Cable, telephone, cell phones, etc. But I am at a loss on how to ensure 10 debits are made automatically. Any ideas will be appreciated.

Qualifying for the second statement cycle is difficult. You automatically qualify for the first statement cycle, but to qualify for the second statement cycle you have to meet the requirements by the end of the first statement cycle, which begins when you open the account and ends on the second to last business day after that.

Also, it takes time for them to mail you the signature card, for you to mail the signature card back, and then for them to mail you the debit card, all of which happens after the account opens, so it may be 3 weeks or more before you can start making debit card transactions.

If you open the account at the beginning of the month, it may be possible to cram 10 debit card transactions into the end of the first qualification period, but otherwise it's probably best to let the second month go and try to qualify for the third month.

I haven't received my debit card yet, but here is what happened so far:

4/03 Received email saying my application was received, but I need to send in a notarized copy of license
4/17 Mailed a notarized copy of my license
4/23 Received email saying my account was approved and the documents were mailed out
4/29 Received the signature card and other documents
4/30 Mailed the signature card and initial deposit check
5/07 Received online banking ID and password
5/08 Talked to a CSR, found out the account was opened on 4/23. CSR confirmed that to qualify for the second month you have to meet requirements by the end of the first qualification period (which was 4/23-4/29 for me). CSR said the debit card should come in 7-10 business days

glxpass said:cfiziksh86 said:Qualifying for the second statement cycle is difficult. You automatically qualify for the first statement cycle, but to qualify for the second statement cycle you have to meet the requirements by the end of the first statement cycle, which begins when you open the account and ends on the second to last business day after that.

Also, it takes time for them to mail you the signature card, for you to mail the signature card back, and then for them to mail you the debit card, all of which happens after the account opens, so it may be 3 weeks or more before you can start making debit card transactions.

If you open the account at the beginning of the month, it may be possible to cram 10 debit card transactions into the end of the first qualification period, but otherwise it's probably best to let the second month go and try to qualify for the third month.

I haven't received my debit card yet, but here is what happened so far:

4/03 Received email saying my application was received, but I need to send in a notarized copy of license
4/17 Mailed a notarized copy of my license
4/23 Received email saying my account was approved and the documents were mailed out
4/29 Received the signature card and other documents
4/30 Mailed the signature card and initial deposit check
5/07 Received online banking ID and password
5/08 Talked to a CSR, found out the account was opened on 4/23. CSR confirmed that to qualify for the second month you have to meet requirements by the end of the first qualification period (which was 4/23-4/29 for me). CSR said the debit card should come in 7-10 business days
What the CSR told you sounds wrong to me, unless they've changed their policies. If your first qualification period is 4/23 - 4/29, then your second qualification period follows that, and corresponds to the statement period for May. See this post. I'd talk with another CSR in order to confirm this.

I talked to another CSR, who said the first CSR was wrong and that my first statement cycle is actually 5/07-5/29. The account opening date listed on my application was 4/23, but the account was entered into their system on 5/07, and it's the date when the account was entered into the system that determines when the first statement cycle starts.

So it is possible to qualify for the second month, but there is still a waiting period to get the debit card, and if the account is entered into the system near the end of the month then it becomes difficult to qualify.

So if you're applying for this account and it's late in the month, it may be best to wait until a few days before the end of the month to send in your signature card so that they receive it just after the second to last business day of the month.

I got my debit card today (5/14). It only took 5 business days, faster than the 7-10 business days estimate they give.

ahearnb said:FW2112 said:I got my PIN for the debit card Monday (5-12) and I used it a couple of times; once at a gas pump and the second time at a convenience store. The transactions showed up online today and both were listed like this "ATM TRANSACTION MEMO POSTING." Surely Charter will know those weren't ATM withdrawals, right??
Yes, they will change to POS transactions tomorrow.

Whew! Thanks for that