Golden Rewards Checking FAQ

General

Q: Who is eligible for a Golden Rewards Checking account?
A: Golden Plains Credit Union Members and Kansas Residents ONLY.   Specifically, anyone who resides in Central, Western or Southeast (Anderson, Allen, Bourbon, Cherokee, Crawford, Labette, Linn, Montgomery, Neosho and Wilson counties) Kansas are eligible for a Golden Rewards Checking account.

Q: What is the minimum opening deposit for a Golden Rewards Checking account?
A: $100

Q: Is there a limit on how many Golden Rewards Checking accounts I can have?
A: Yes. There is a limit of one Golden Rewards Checking account per member; a limit of two Golden Rewards Checking accounts per household.

Q: Is there a monthly service charge for a Golden Rewards Checking account.
A: A Golden Rewards Checking account is a FREE account and there is never a monthly service charge for this account.

Q: What are the "Rewards" for the Golden Rewards Checking account?
A: 2.26% Annual Percentage Yield (APY) for balances up to $25,000 and 0.16% APY on the remaining balance over $25,000. And, ATM refunds nationwide.

Q: How does the dividend rate for Golden Rewards Checking work?
A: You will receive 2.26% APY if the requirements are met. If the requirements are not met, you will earn 0.05% APY.

Q: Can the dividend rate on my Golden Rewards Checking account change?
A: Yes. The rate may change at any time. However, the 2.26% APY is not designed to be a "teaser rate."

Q: How is the interest calculated?
A: The rate is calculated daily and paid monthly.

Q: Is there a minimum balance requirement in order to receive my Rewards Rate or ATM refunds?
A: There is no minimum balance requirement in order to receive rewards.

Q: Is there a limit on the amount of money I can keep in my Golden Rewards Checking account?
A: No, you can keep as much as you want in the account.

Q: Can multiple people use the same Golden Rewards Checking account?
A: Anyone who is listed on the account may use the Golden Rewards Checking account.

Q: Is there a limit on the number or kind of transactions you can do on a Golden Rewards Checking account?
A: There is no limit on the number or kind of transactions you can do.

Q: If I meet the requirements, when will I receive my rewards?
A: On the last day of the calendar month in which they were earned.

Q: Will I receive a 1099 at the end of the year reflecting dividends earned on my Golden Rewards Checking account?
A: Yes. If you earn $10 or more in dividends during the year, the credit union will send you a 1099 form.

ATMs

Q: I met the monthly requirements and ATM charges still appeared on my statement. Why?
A: You will be charged ATM fees on all ATM transactions. But, if you meet the monthly requirements, the ATM charges will be refunded up to $25 at the end of your statement cycle. ATM fees are refunded, not waived.

Q: Do I have to do anything in order to get my ATM refunds?
A: All you need to do is meet the requirements for the Golden Rewards Checking account and the refund will automatically be credited to your Golden Rewards Checking account on the last day of the month. There is no need to submit any receipts.

Q: Are ATM fees refunded outside of the United States?
A: No. Fees are not refunded internationally. Fees are refunded nationwide throughout the United States.

Requirements

Q: What monthly requirements must I meet to qualify for 2.26% APY and ATM fee refunds?
A: 1) Log-on to Golden Plains Online at least once. 2) Complete 10 GPCU VISA Check Card transactions that post and clear per qualification cycle. 3) Receive GPCU e-Statements.

Q: During what time period must I meet the requirements?
A: Between the first day of the calendar month and the last day of the calendar month. On that last day, all transactions must be posted and cleared from your account by 5 p.m. Central Standard Time (CST) in order to count towards your monthly requirements.
Example start date: October 1st
Example end date: October 31st (by 5 p.m. CST)

Q: How often must I meet the requirements to qualify?
A: On a monthly basis.

Q: What happens if I fail to meet the requirements?
A: You will receive 0.05% APY and your ATM fees will not be refunded for that month. You will have the chance to start over and meet the requirements the next month and you will not be charged a maintenance fee.

Q: What if I open my account late in the month and I don’t have time to meet the requirements?
A: New Golden Rewards Checking accounts will automatically receive rewards during the first month the account is open.

Q: How will I know if I qualified for 2.26% APY and ATM fee refunds?
A: You will receive an email that lets you know whether or not you qualified for the rewards and why.

Q: If my account goes negative, will I still be able to qualify?
A: Yes, as long as the requirements are met, you will receive your rewards.

Q: If I make VISA check card or ACH transactions through my savings account, will those count towards my requirements?
A: No. The transactions must occur on your Golden Rewards Checking account to fulfill the requirements.

e-Statements Requirement

Q: Do I need to have an email address to receive e-Statements?
A: Yes. You will be asked to provide a valid email address when you sign-up for Golden Rewards Checking. You can use an existing email account or set-up a FREE email account via Hotmail, Yahoo or another email provider.

Golden Plains Online Requirement

Q: Do I need to make any transactions within Golden Plains Online in order to meet the requirements?
A: No. You just need to make sure you log-on to Golden Plains Online (under your Golden Rewards Checking account number) at least once per calendar month.

VISA Check Card Requirement

Q: If I use my VISA Check Card at an ATM, will that transaction count towards my requirements?
A: No. The 10 VISA check card transactions must be accumulated by making purchases directly through merchants. Both pin-based (debit) and signature-based (credit) transactions count towards the requirement.

Q: Can I "carry forward" VISA Check Card transactions in excess of 10 to the next month?
A: No, at the start of each qualification cycle (calendar month), your VISA Check Card transactions will start over.

Q: What if I make a VISA Check Card purchase and it posts to my Golden Rewards Checking account three days after I made the transaction? Which date will count towards meeting the requirements: the purchase date or the posting date?
A: The posting date is the only date our system can recognize when counting VISA Check Card transactions. In order to qualify, transactions must be posted and cleared from your account between the first day of the calendar month and by 5 p.m. Central Standard Time on the last day of the calendar month. To ensure your transactions qualify, make sure to use your VISA Check Card early and often.

Members Converting to a Golden Rewards Checking Account

Q: How do I convert my old checking account to a Golden Rewards Checking account?
A: Come in and visit with one of our Member Service Representatives. They will convert everything over from your old checking account to your new Golden Rewards Checking account.

Q: Will I be able to use my existing VISA Check Card, checks and member number with my Golden Rewards Checking Account?
A: Yes. As long as your member number doesn’t change, there is no need to order new checks or a new VISA Check Card.

Q: Will the transactions on my old checking account count towards meeting the requirements for my new Golden Rewards Checking account?
A: No. You must meet the requirements with your Golden Rewards Checking account.

Q: I have officially converted to a Golden Rewards Checking account. Do I need to update my recurring bill payments and transfers within Golden Plains Online?
A: Yes. You will need to manually update those payments and transfers with your new Golden Rewards Checking account information.