Ultimate e Checking » Frequently Asked Questions

Can I have an Ultimate e Checking account if I don't own a computer?

Yes, as long as you have a valid email account. Free email accounts are available through several different websites. Public libraries have internet access to help with this also.

What is the statement cycle for Ultimate e Checking?

The statement cycle begins on the first business day of each month and ends on the last business day of each month. Transactions must be posted to your account prior to the last business day of the month.

How does the split interest rate for Ultimate e Checking work?

Accounts will earn a high yield interest rate on balances up to and including $25,000 and at our current Select Interest Checking rate on balances over $25,000. If requirements are not met you will earn the current Select Interest Checking rate on the entire balance.

Can the interest rate change on my Ultimate e Checking account?

Yes. The interest rate can change anytime.

Will I receive a tax statement reflecting interest earned over the year?

Yes.

Is there a minimum balance requirement in order to receive my (benefit/high yield interest)?

The Bank does not require a minimum balance as long as the requirements are met.

If my account balance goes negative, will I still be able to qualify for my (benefit/high yield interest) during that statement cycle?

Yes, if the requirements are met.

What do I have to do to meet the Direct Deposit requirement?

There are several ways you may sign up for Direct Deposit: contact the Social Security Administration and have your monthly check set up on Direct Deposit; contact your employer to see if they offer payroll Direct Deposit; dividend checks may be set up on Direct Deposit; or set up a recurring transfer from an account at another bank to have a deposit made into your Ultimate e Checking account.

How do I sign up for Internet Banking and Online Bill Payment?

If during the account opening process you are not enrolled for internet banking and bill payment, you can enroll by clicking on the following link Internet Banking Enrollment. You will also find the link on our home page located on the left hand side under Request Enrollment labeled Personal Internet Banking.

If I use my debit card at an ATM, will the transaction count toward my requirements?

No. Transactions at ATM machines do not count towards the Visa? Check Card transaction requirements. Purchases or transactions made over the Internet or Telephone are also excluded. Only debit card/POS transactions count. (Transactions made in person with your card)

How long does it take for a POS to post to my account?

POS transactions can take up to 3 business days to post to your account. We suggest that all transactions are completed 5 days prior to the end of the statement cycle (the last business day of the month) to ensure that all transactions are posted to your account in the current month.

May I "carry forward" POS transactions in excess of the required number of transactions to the next statement cycle?

No. Each month starts a new requirement cycle.

If I fail to meet the requirements during a statement cycle, can I still have a chance to qualify during the next statement cycle?

Yes. Each month is viewed as a new requirement period.



 
Home | About Us | Locations | Contact Us | Sitemap
Copyright © 2014 BAC & ECC Bank. All rights reserved.