Home » Personal » Savings » PayU Savings
  • Linked to free PayU checking account
  • Automatic transfers of PayU checking rewards
  • .75% APY on balances up to $25,000
  • .25% APY on portion of balance over $25,000
  • .01% APY on the entire balance if qualifications are not met

Account Features:

  • Linked to free PayU checking account
  • Automatic transfers of PayU checking rewards
  • .75% APY on balances up to $25,000
  • .25% APY on portion of balance over $25,000
  • 0.01% APY* if qualifications are not met on PayU checking
  • No minimum deposit to open PayU Savings Account

Qualifications:

Qualifying for the PayU checking rewards automatically qualifies you for the highest PayU Interest Savings rate too. To earn these rewards, simply do the following during the 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. Your accounts are still free, and you still earn our base rate of interest in both PayU Interest or Cashback and PayU Interest Savings; and you can get back to earning the rewards the very next qualification cycle. Does your bank PayU? 

*Qualification Information:

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. The following activities do not count toward earning account rewards:  ATM-processed transactions, transfers between accounts, debit and credit card purchases processed by merchants and received by Bank of St. Elizabeth as ATM transactions, PIN-based, signature based transactions, non-retail payment transactions, and purchases made with debit or credit cards not issued by Bank of St. Elizabeth. Transactions bundled together by merchants and received by our institution as a single transaction count as a single transaction for the purpose of earning account 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. 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 Cashback: 3.0%] cash back on up to a total of $300.00 PIN-based/signature-based debit card purchases that post and settle to the account during that cycle period. A maximum of $9.00 cash back may be earned per Monthly Qualification Cycle.

 PayU Savings:

(if 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 of $5.00 or higher. 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. 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. 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 Savimgs 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. Additional Information: Account approval, conditions, qualifications, limits, time frames, enrollments, log-ons and other requirements apply. No minimum deposit is required to open a PayU account. Monthly enrollment in online banking, receipt of electronic statements may be a condition(s) of these accounts. Enrollment in electronic services (e.g. online banking, electronic statements, and log-ons may be required to meet some of the account’s qualifications. Limit 1 account(s) per social security number. There are no recurring monthly maintenance charges or fees to open or close this account. A PayU Interest or Cashback account is required to have a PayU Savings account. A linked PayU Savings account is required for automatic savings. Contact one of our bank service representatives for additional information, details, restrictions, processing limitations and enrollment instructions.