Checking

• Is there a monthly service charge for an LGE High Rewards Checking account?
  

  No, there is no monthly service charge as long as your account remains active.

• How often must the requirements be met to qualify for the rewards?
  

  The qualification period goes from the first day of the month through the last day of the month (the statement cycle).

• What happens if the requirements for High Rewards Checking are not met?
  

  You will not receive dividends and you will not be eligible to receive cash back on credit card purchases. In addition, non-LGE ATM fees will not be refunded.

• What are the rewards for High Rewards Checking?
  

  Higher dividend rates on the balance in the account up to a maximum balance of $25,000, refunds of all non-LGE ATM fees, and cash back on credit card purchases.

• Where do I find my High Rewards Checking qualification status?
  

  You don’t have to wait until the end of the statement cycle to confirm your qualification status. You can log into Online Banking any time during the month and select “High Rewards Checking” from the menu to check the status of your requirements.

• If my account balance goes negative, will I still be able to qualify for my rewards during that statement cycle?
  

  Yes, as long as you meet the requirements you will still qualify for your rewards.

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

  

  Yes, you can start over next month and work towards meeting the requirements.

• If I use my credit card for a cash advance, will that transaction count toward my requirements?
  

  No, cash advances do not count toward the requirements.

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

  No, ATM transactions do not count toward the requirements. Only point-of-sale transactions that post to your account during the statement cycle count (PIN entered or signature based).

• If I meet the requirements, when will I receive my rewards?
  

  You will automatically receive the refund for non-LGE ATM fees on the last day of the current month. Dividends will be paid on the first day of the following month. Any cash back earned on credit cards will also be paid on the first day of the following month.

• On a joint account, do debit card or credit card transactions from either of the account owners count towards the monthly requirement?
  

  Yes, transactions from each account owner count toward the monthly requirement.

• May I carry forward debit card or credit card transactions in excess of the required number to the next statement cycle?
  

  No, only transactions that post during the qualification period will count towards the requirements for that statement cycle.

• Is there a minimum balance requirement in order to receive my rewards?
  

  No, there is no minimum balance requirement to receive your rewards.

• What is the minimum opening balance for a High Rewards Checking account?
  

  There is no required minimum opening balance; however, we recommend that you deposit enough funds to cover the costs of any printed checks you wish to order.

• Why do you call it “dividends” instead of “interest?”
  

  Whereas banks pay interest, credit unions pay dividends. It’s a similar principle of earning money on your deposit.

• How is the dividend rate calculated?
  

  Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

• Will I receive a 1099 at the end of the year reflecting dividends earned over the year?
  

  Members will receive a 1099 if the combined dividends earned on all LGE accounts is $10.00 or more. Cash back earned on credit cards purchases is not included.

• What is the statement cycle for High Rewards Checking?
  

  The statement cut-off date for High Rewards Checking is the last day of the month, which is the same as all other LGE checking accounts.

• Do I have to use the debit card as a debit transaction at the point of sale, or may I tell the vendor to use it as though it were a credit transaction?
  

  As long as you use your debit card, it doesn't matter if you use it with your PIN, or as if it were processed as a credit card transaction (signature rather than PIN). However, transactions processed as credit card/signature transactions offer the security of VISA’s Zero Liability for fraudulent purchases.

• Can I have High Rewards Checking if I don't have a computer?
  

  Yes. You can use computers at your local library or an Internet café to sign up. However, be wary of security on public wide-area networks. It is best to ensure that a connection you use is secure. You do need a valid email account to enroll in eStatements and there are Internet service providers that offer free email accounts. You might check with Google and Yahoo to investigate free email accounts.

• Must I access my eStatement online in order to qualify for the rewards?
  

  No, you are not required to access your eStatement online. You are only required to sign up and receive the eStatement notification by email. We strongly encourage you to review your account statement regularly; however, this is your choice.

• What if I need a printed copy of my statement?
  

  Statements can be printed through Online Banking or you may contact the credit union for copies (refer to Fee Schedule).

• Is there a limit on the amount of money I can keep in my High Rewards Checking account?
  

  There is no limit on the amount of money you can keep in your High Rewards checking account. However, the higher dividend rate only applies to the first $25,000. Checking balances over $25,000 will earn a lower dividend. Refer to the Credit Union Rate Schedule for current rates and APYs that apply.

• Is overdraft protection available for High Rewards Checking accounts?
  

  Yes, overdraft protection is available for the High Rewards Checking account. Choose overdraft protection for your checking account from savings, personal line of credit, or a combination of the two. We also provide our members with a worry-free way to avoid bouncing checks with our Courtesy Pay service.

• Will I be able to use my existing debit card, printed checks, and account number if I convert my existing checking account to High Rewards Checking account or will those all change?
  

  Yes, you can use your existing LGE debit card, printed checks, and account number. The only thing that will change is the name of the checking account.

• How may I convert my current checking account to a High Rewards Checking account?
  

  To convert your current LGE checking account to a LGE High Rewards Checking account, visit your local LGE branch, call 770-424-0060 option 4, or log into Online Banking and open the High Reward Checking widget then select the “Convert to HRC Now!” button. Please note that High Rewards Checking accounts are not available for business accounts.

• Will the Direct Deposit and ACH transactions that were attached to my previous LGE checking account transfer over automatically to my High Rewards Checking account?
  

  Yes. Since your account number will not change, everything will work the same on your new High Rewards Checking account.

• Can I open multiple High Rewards Checking accounts?
  

  No, only one High Rewards Checking account is allowed per primary member.

• Can multiple people use the same High Rewards Checking account?
  

  To use the High Rewards Checking account, the user(s) must be added to the account.

• Can a DBA (“Doing Business As”) or business account use High Rewards Checking?
  

  No, only personal accounts are eligible for a High Rewards Checking account.

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