What makes Elite Checking so "rewarding"?

Simply put, it gives you everything you want in a checking account:


Is this just a teaser rate? How soon will my rate change?

We currently have no plans to change the rates.

What if I put in more than $50,000?

The portion of your balance up to $50,000 earns the highest yield, while the portion greater than $50,000 earns a somewhat lesser amount*; upon meeting "reward requirements" of course.


Are all ATMs free?

Meet the qualifications each cycle (see below, under Miscellaneous for definition of "cycle") and you can use any ATM in the nation and all transaction fees will be refunded.


How do I qualify?

It's easy... just use the services that come free with your Checking Account! Specifically:

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

You'll receive your rewards on the first business day of the next qualifying cycle, including the refund of your ATM fees.

What if I don't qualify in any given month?

If you don't qualify in a particular cycle, you still get great benefits: interest on your balance, free e-statements, free debit card, etc. You simply won't be reimbursed for ATM fees you might have incurred that period. Each new cycle is a chance to earn rewards.


What if my new debit card doesn't arrive until late in my first cycle and I don't have time to earn my rewards. Or what if my automatic debit or direct deposit does not occur during my first cycle: will I still get rewards?

All requirements on your account must be met each statement cycle prior to receiving your rewards.

Does a debit card reversal count AGAINST my requirements?

Yes it will effect the total number of transactions.

What if I use my debit card 15 times one month and only eight times the next? May I roll over debit card transactions to the next cycle?

Sorry, no. Each qualifying cycle starts new.

Upon opening my Checking Account, will the transactions from my old account count towards the required transactions?

They don't need to since you will get your rewards for your first cycle whether you qualify or not.


Do I have to access my e-Statement online in order to qualify for the rewards?

No, but you must accept electronic delivery exclusively each statement cycle.

Do I receive images or checks back with my Checking Account?

Yes, they are available through your Online Banking account.

Can I open an account even if I don't own a computer?

Yes, of course! You may utilize free computers at libraries, etc. to access your account monthly.


Is there a limit on the amount of money I can keep in my Checking Account?

There is no limit to the amount you may put into your account. Feel free to consolidate savings, CDs, and accounts from other institutions.

Is there an annual fee or a per-usage fee for the debit card, online banking or online bill pay?

No. These services are free to you, year round, regardless of how often you use them.


How much do I need to deposit in order to open my Checking Account?

There is a $100.00 minimum opening balance.

Can I open an account on-line?

The account opening process may begin online and then a representative will contact you to come in and present your identification.

Do I get Overdraft Protection with my account?

Overdraft Protection is available. Fees may apply.

I'm already a customer. Can I use my existing debit card, checks, and account number and just start earning rewards?

Sorry, no. This is considered a new account with a new account number.

Can I open multiple Checking Accounts for the same address?

Yes. You can open as many accounts as you need. Each account must meet the "reward requirements" independently.

Can multiple people use the same Checking Account?


Can a DBA use this account or can it be used as a business account?

Sorry, no.

Is there a limit on the number or kind of transactions you can do on the account?

There are no limits.

How many checks do I get when I open an account?

As this is a paperless account complete with a free debit card and free Online Bill Pay, there is no need for an abundance of paper checks. As with any new account, you will receive a sample pack of checks upon account opening and you will be provided the opportunity to order additional checks if needed.


How long is a statement or qualifying cycle?

The period of time from the beginning of one statement to the beginning of another; basically a calendar month minus the last business day, which is used for processing the "reward requirements".

The interest earned: is it taxable?

Yes. You will receive a 1099 showing your total interest earned for one year at the beginning of the next year.

What if I need a printed copy of my statement and/or a check image?

You can call us and request it (fees may apply). Or simply print the e-Statement, or the check contained within it, directly from your Online account.

What is an automatic debit?

Often referred to as an ACH transaction, an automatic debit is an electronic transfer of funds that is initiated by the payees' financial institution. For example, if you give your mortgage or insurance company (payee) permission to withdraw your monthly payment automatically from your (payor) account, that is an automatic debit. Online Bill Pay does not count towards the automatic debit requirement.

Do regularly scheduled transfers from one account to another count as automatic debits?

Account transfers (such as savings-to-checking), even made on a regular basis DO NOT count as automatic debits for the purpose of earning account rewards.

What is APY?

APY stands for Annual Percentage Yield. It is the actual amount of interest an account will earn, or yield, for you over the course of a year. With Elite Checking, interest is compounded monthly and paid monthly on your daily ledger balance.

Need Assistance?

If you have additional questions, contact First State Bank & Trust for assistance.


The account is an interest bearing account which pays an interest/annual percentage yield in accordance with the First State Bank & Trust rate chart. At the discretion of the bank, and at a time, frequency and interest rate/annual percentage yield determined by the bank, the bank may change the interest rate/annual percentage yield on the account. Interest will be compounded monthly and will be credited to the account monthly. If you close the account before interest is credited, you will not receive the accrued interest. $100 is required to open the account but no minimum balance is required to maintain it. Unlimited ATM fees are refunded each statement cycle once qualifications are met. Requirements that need to be met on the account to earn above the base interest/annual percentage yield on balances up to $50,000 are: receive monthly electronic statements, have one ACH direct deposit or payment, fifteen settled debit card signature based Point Of Sale (POS) transactions and log into online banking one time per statement cycle. The bank uses the daily balance method to calculate interest on the account. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example: checks).