Pocket Your Change Checking
Each debit card purchase is rounded up to the nearest dollar and the difference is transferred from your PYC Checking to your PYC Savings. It’s so easy! Open your Free Pocket Your Change Checking with $25 and pocket your change every time you use your debit card. Plus, you’ll enjoy the convenience of FREE Internet Banking with unlimited Bill Pay and eStatements. Watch your change add up! You’ll receive one monthly statement that will show each of your Pocket Your Change transactions so you can see how much savings went in your pocket.
Pocket Your Change Savings
We want to help you save even more so we’ll match 10% of your Pocket Your Change savings up to $300 a year.* Your savings can really add up! Just $100 opens your Pocket Your Change Savings. Plus, you’ll pocket even more with a premier interest rate. Build your savings even faster, by setting up an automatic transfer from your PYC Checking to your PYC Savings account.
*Only the rounded up portions of the Premier Bank Debit Card transactions (excluding ATMs) are eligible for the match on the Pocket Your Change (PYC) program. Matching funds will be credited to your PYC savings semi-annually on 6/30 and 12/31. To receive matching funds, your PYC Accounts must be open and in good standing, and you must still be enrolled in the program. Annual match will not exceed $300 per year. Matching funds will be reported on IRS Form 1099. PYC Checking requires a $25 minimum opening balance, Internet Banking and eStatements. PYC Savings requires a $100 minimum opening balance and pays a variable Annual Percentage Yield of 1.00%. APY is accurate as of 07/01/10. APY may change without notice anytime after the account is opened. Fees may reduce earnings on the PYC Savings Account.
What do I need to do to enroll in Pocket Your Change?
To enroll in Pocket Your Change (PYC), you will need a Premier Bank Pocket Your Change Checking Account and a Pocket Your Change Savings Account, as well as a Premier Bank Debit Card. Once you have all three, you’re ready to start pocketing your change!
Are there additional requirements to participate in Pocket Your Change?
Yes. You must sign up for Internet Banking and eStatements. You must also have at least one qualified debit card transaction per calendar quarter.
Are other types of checking accounts eligible for Pocket Your Change?
No. The Pocket Your Change Checking Account is the only one eligible for this program. Other types of personal checking accounts and business accounts are not eligible to participate in the program.
What types of savings accounts are eligible for Pocket Your Change?
Only the Pocket Your Change Savings Account is eligible to receive the round up amounts for Pocket Your Change. Checking, Money Market, Investment Savings, CDs and IRAs are not eligible to receive round up amounts.
Can a PALS member participate in Pocket Your Change?
Yes. However, the benefits of a Pocket Your Change Checking Account cannot be added to a PALS Checking Account. PALS members must either open a PYC PALS Checking Account or switch their existing PALS Checking account to a Pocket Your Change PALS Checking Account, which does not earn interest or receive free checks. PALS members who switch their existing PALS Checking Account to a PYC PALS Checking Account are still PALS members and eligible for all the other benefits of the PALS program.
How much do I need to open my Pocket Your Change Checking and Savings Accounts?
Pocket Your Change Checking requires a $25 minimum opening balance. Pocket Your Change Savings requires a $100 minimum opening balance.
Is there a charge for Pocket Your Change?
No. The Pocket Your Change Checking Account has no monthly maintenance fee or minimum balance requirement. The Pocket Your Change Savings Account has no monthly maintenance fee as long as you maintain a $100 average daily balance. If your average balance falls below $100 there is a $3 monthly maintenance fee.
What percent of my Pocket Your Change savings will Premier Bank match?
We will match 10% of the rounded up portions of your Premier Bank Debit Card transactions (excluding ATMs), up to $300 per year.*
When will my match be deposited to my Pocket Your Change Saving Account?
Once enrolled, the matching funds will be credited to the Pocket Your Change Savings Accounts semi-annually on the last business day of June and December. To receive matching funds, your Pocket Your Change Checking and Pocket Your Change Savings Accounts must be open and in good standing, and you must still be enrolled in the program.
What is the maximum amount Premier Bank will match?
The annual match will not exceed $300 per year.
How often are my round-ups transferred to my Pocket Your Change Savings?
The round-ups from your debit card purchases are accumulated and transferred from your Pocket Your Change Checking Account to your Pocket Your Change Savings Account daily. The total daily transfer amount will be shown on your PYC Savings statement as one transaction.
Am I limited on the amount I can save with Pocket Your Change?
No. There is no limit to the amount of money you can save. The amount you save is based on your debit card usage.
Can I transfer funds to a PYC Savings Account for a Child or Grandchild?
Yes. As long as you are a signer on the PYC Checking and PYC Saving Account.
Can I split my Pocket Your Change round up amount between two accounts?
No. There can only be one Pocket Your Change Savings Account receiving the round up amount.
Can I change my mind and choose not to participate in Pocket Your Change?
Yes. However, if you choose to no longer participate or become ineligible for Pocket Your Change; the semi-annual match will not be paid. Your PYC Checking Account will switch to a Free Checking Account and your PYC Savings Account will switch to a Premier Savings Account unless otherwise directed by you. If you are a PALS member, your PYC Checking Account will switch to a Free PALS Checking Account.
How do I sign up for Pocket Your Change?
If you would like to sign up for Pocket Your Change, please visit one of our convenient banking centers and one of our Personal Bankers will be happy to sign you up!
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