Gold Checking Frequently Asked Questions
Benefits and Qualifications
High-dividend on balances up to $10,000.
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Dividends on balances above $10,000.
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Nationwide ATM fees refunded up to $25 a month.
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Free Online Bill Pay.
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Make 12 debit card purchases (Non-ATM. Transactions must post before the end of the month).
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Receive your monthly account statement electronically.
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Set up one Direct Deposit, authorize one automatic payment from your account, or use online bill payment at least once during the month (transaction must post before the end of the month).
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- How often must the qualifications be met to qualify for Gold Checking benefits?
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The qualifiers must be met each month.
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Your checking is still free and you have the opportunity to meet the qualifiers the next month to earn benefits. Dividends will be paid at the base rate on your entire balance.
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No. There are no monthly service fees on Kitsap Credit Union’s Gold Checking accounts.
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Yes, all rates on Gold Checking may change at Kitsap Credit Union’s discretion.
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No, this is a high Annual Percentage Yield account. However, Gold Checking rates may fluctuate from time to time at Kitsap Credit Union’s discretion.
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Dividends are paid monthly and posted on the last day of the statement cycle.
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If the qualifications are met, ATM fees will be refunded on the last day
of the month.
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Members who meet the Gold qualifications automatically receive up to $25.00 in domestic ATM fees refunded for that month (this includes both surcharges charged by the ATM owner for using their machine as well as Kitsap Credit Union’s ATM usage fee for not using an ATM owned by Kitsap Credit Union.)
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he Gold qualifications are not met, the ATM fees are not refunds.
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No. Refunds are made for use only with domestic ATMs.
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You must have a direct deposit, automatic payment, or bill payment post to your account during the calendar month to qualify. Since direct deposits may post at the beginning or end of the month, we recommend that you have more than one of the qualifiers. For example, direct deposit and an automatic payment. Or, direct deposit and use the online bill payment.
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You can log into online banking to review your account activity and confirm that you have met the minimum account qualifications at anytime.
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- Will Gold Checking members receive a 1099 at the end of the year reflecting interest earned?
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Yes, as long as the qualifications are met.
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- If I fail to meet the qualifications during the month, can I still have
a chance to qualify during the next month?
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You may not qualify for the benefits for that month. However, you still earn dividends at the base rate and are not charged a fee. You can always qualify the following month.
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No. However there are no service charges and you will still earn the base rate on
your balance.
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Statement Cycle
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The statement cycle begins on the first day of the month and ends on the last business day of the month. Qualifying transactions must be posted to the account on or before the last business day of the month.
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A qualification cycle is the period beginning with the first business day of the month and ending with the last business day of the month.
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- Will all Gold Checking members be on the same cycle?
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No. All Kitsap Credit Union checking accounts are on the same statement cycle.
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Debit Card Transactions
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No. Only non-ATM, point-of-sale transactions count and they must be posted to the account before the last business day.
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A settled transaction is one that has posted to your account. When you use your Visa debit card, the merchant may place a memo hold on your account in the amount of your purchase. Though most Visa debit card transactions post quickly, it can take up to three business days before the transaction posts or clears.
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No. You must meet the qualifications each month.
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Electronic Statements
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You must choose to receive your monthly statements electronically and with a valid e-mail address rather than in paper, delivered via the U.S. Postal Service. You are not required to look at it online, but we strongly recommend that you review your statement to properly reconcile to your check register and to ensure there are no fraudulent transactions.
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You will receive an email when your electronic statement is available to view. Log into CU@Home, our online banking product, then click on the
“Statement” tab. Click on the date of your statements to view it, print it, or save it to your computer’s hard drive.
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Most check images are available for you on CU@Home, our online banking product.
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Yes, of course! You don’t have to own a computer, but you must provide a valid e-mail address for notification of availability of each electronic statement. You can access email through most public libraries, some senior centers, or at the computer kiosks located at Kitsap Credit Union branches.
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You can print a check or statement from your computer. Additionally, Kitsap Credit Union keeps records of all statements and checks as required by state and federal laws.
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You must update your email address through CU@Home, our online banking product. Failure to update your email address may result in not meeting the monthly qualifications.
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Electronic statement delivery is a requirement for all Gold Checking accounts. Delivery of paper statements is still an however you will not be eligible for the Gold Checking benefits of higher dividends and refunded atm fees.
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Account Limits
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There is no limit to the amount you may put into your account, however only the first $10k will receive the higher dividend rate. Other high yielding options available to you are our Money Market Savings, Other Savings, and Certificates of Deposit.
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Is there a minimum balance requirement in order to receive my
Gold Checking benefits?
- What is the minimum opening balance for a Gold Checking
account?
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Yes. You can receive up to $25 per month in refunded domestic ATM fees when qualifications are met (this includes both surcharges charged by the ATM owner for using their machine as well as Kitsap Credit Union’s ATM usage fee for not using an ATM owned by Kitsap Credit Union.)
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Opening/Converting Accounts
- Is overdraft protection available for Gold Checking accounts?
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Yes, if your account is already a Kitsap Credit Union account, everything will remain the same, except that your account will be coded as a Gold Checking account.
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There is no paperwork necessary. Simply stop by one of our offices, call us at 360-662-2000 or 1-800-422-5852, chat with us online, or send a secure email through online banking to talk with a Kitsap Credit Union Financial Service Representative about converting your account to Gold Checking.
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You may open an account through our Contact Center if you prefer, however for your convenience we offer Online Account Opening via our website at Kitsapcu.org.
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Yes, as long as each account is a fully utilized transactional account. KCU retains the right to close non transactional accounts that are not being utilized as intended. If you maintain multiple Gold Checking accounts you must meet the qualifications on each account to recieve the higher dividend rate
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No. Gold Checking is only available on personal, consumer accounts.
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