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  • Free checking that pays you 2.00% APY on balances up to $10,000
  • 0.25% APY on balances over $10,000
  • 0.01% APY if qualifications are not met
  • ATM fee refunds nationwide (up to $25 monthly)
  • No Minimum Balance
  • $100 minimum deposit required
  • FREE – Ready to use Debit Card, issued at the time of account opening 

*See Account Summary tab and Additional Information tab for details.

PayU Interest is a whole new way to bank; it’s free checking that rewards you with 2.00% APY and nationwide ATM fee refunds.  All you have to do to earn these rewards is meet some easy monthly qualifications. Even if you don’t meet the qualifications, your account is still free! It’s high-interest checking with no minimum balance requirements, and no monthly service fees. Link it to PayU Savings; a free savings account to build your savings automatically. Account Features:

  • 2.00 APY on balances up to $10,000
  • 0.25% APY on balances over $10,000
  • 0.01% APY if qualifications are not met
  • ATM fee refunds nationwide (up to $25 monthly)
  • May be linked to a free PayU Savings account
  • No minimum balance required to earn rewards
  • No monthly service charge
  • Free Internet Banking with Bill Pay
  • Free eStatements

Qualifications: Each time you qualify, you earn really high interest and nationwide ATM refunds. To earn these rewards, simply do the following activities and transactions in your PayU Interest account each monthly qualification cycle:

  • Receive either online statements or email statements
  • Have at least 12 debit card purchases during statement cycle
  • Access online or mobile banking at least 1 time per month

If you don’t qualify for the rewards in a given cycle, don’t worry. You still earn our base rate of interest and get unlimited checking and you can get back to earning rewards the very next qualification cycle.

*Qualification Information: The following qualifications, which are subject to change, within the Monthly Qualification Cycle are: 1) receipt of online or email statements, 2) monthly log-ons to online or mobile banking, 3) twelve (12) posted and settled applicable transactions within the monthly cycle. Account transactions and activities may take one or more days to post and settle to the account and all must do so during the Monthly Qualification Cycle in order to qualify for the account’s rewards. “Monthly Qualification Cycle” means a period beginning one (1) business day prior to the first day of the current statement cycle through one (1) business day prior to the close of the current statement cycle.

Non-Qualification Information: The following activities do not count toward earning account rewards: 1) ATM-processed transactions, 2) transfers between accounts, 3) debit and credit card purchases processed by merchants and received by Bank of St. Elizabeth as ATM transactions, 4) PIN-based, signature based transactions, non-retail payment transactions and purchases made with debit or credit cards not issued by Bank of St. Elizabeth.

Reward Information: Rewards vary by account. Depending on what PayU account you open, you will receive the following rewards when you meet your account’s qualifications during a Monthly Qualification Cycle:

PayU Interest: Balances up to $10,000 receive APY of 2.0%; and balances over $10,000 earn 0.25% interest rate on the portion of balance over $10,000, resulting in a range from 0.25% to 2.00% APY depending on the account’s balance.

PayU Savings: (must be linked to a PayU Interest or PayU CashBack account): Balances up to $25,000 in your PayU Savings account receive an APY of 0.75% and balances over $25,000 earn 0.25% interest rate on the portion of balance over $25,000, resulting in a range from 0.25% to 2.0% APY depending on the account’s balance.

ATM Fee Refunds: you will receive reimbursements up to $25 ($5.00 per single transaction) for nationwide ATM fees incurred during the Monthly Qualification Cycle in which you qualified. ATM receipt must be presented within sixty (60) calendar days of transaction for reimbursements of individual ATM fees greater than $5.00.

Additional Information: When your PayU account qualifications are not met all balances in a PayU Interest account earn 0.01% APY; all balances in a PayU Savings account earn 0.01% APY; cash back payments are not made, and ATM fees are not reimbursed. A minimum deposit of $25 is required to open an account. Limit 1 account(s) per social security number. There are no recurring monthly maintenance charges or fees to open or close this account. Rewards and ATM fee reimbursements will be credited to the appropriate PayU account on the last day of the current statement cycle. Automatic transfer from PayU Interest to Payu Savings occurs within one day and may cause an overdraft to your Payu Interest  account if the account’s balance is less than the transferred amount when transfer occurs. A PayU Interest or CashBack account is required to have a PayU Savings account. A linked PayU Savings account is required for automatic savings. When linked to the PayU Savings account, the interest earned within the linked PayU Interest account does not compound since it is automatically transferred to the PayU Savings account. Due to non-compounding, the actual interest amount transferred from the PayU Interest account to the PayU Savings account may be less than the advertised PayU Interest APY, if the advertised APY is represented without a linked PayU Savings account. APY = Annual Percentage Yield. APYs accurate as of 09/25/2017. Rates and rewards are variable and may change after account is opened. Fees may reduce earnings. Contact one of our bank service representatives for additional information, details, restrictions, processing limitations and enrollment instructions.

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