Truth in Savings – my Advantage Checking

my Advantage Checking 05.07.2024
[email protected]

Mailing address:

P.O. Box 189
Claremore, OK 74018

ELIGIBILITY REQUIREMENTS. You must meet the following requirements each monthly statement cycle to earn Tier 1 interest (the
interest cycle is the same as the statement cycle):
1) A minimum of twenty (20) debit card merchant or point-of-sale transactions must post to this account (excludes ATM transactions and refunds).
2) A minimum of one (1) ACH transaction must post to this account (automatic deposit or withdrawal).
3) Receive electronic statements (eStatements). If a paper statement is requested the paper statement fee will be charged, and you will not meet eligibility requirements.

Limit of two (2) my Advantage Checking accounts per household.

Any accrued interest will be forfeited if the product type is changed during the statement cycle, if minimum transaction requirements are not met, or if you revoke your eStatement consent. After a product type has been updated, interest will begin to accrue as of the date changed. Interest will not be paid on the statement cycle previous to the product update.

RCB Bank reserves the right to modify, change and/or terminate the Interest program without notice.

RATE INFORMATION. The interest rate listed in a tier will be paid for only that portion of your daily balance range that is equal to or greater than the low balance amount but less than the high balance amount within that tier.

Your interest rate and annual percentage yield may change.

Determination of Rate. At our discretion, we may change the interest rate on your account.
If you do not meet the eligibility requirements during the qualification cycle, the rate paid in your account on the entire balance will be 0.010% with an annual percentage yield of 0.01%.

Frequency of Rate Changes. We may change the interest rate on your account at any time. The qualification cycle listed above is the statement cycle.

Limitations on Rate Changes. There are no maximum or minimum interest rate limits for this account.

Additional Rate Information. The interest rate on your account is determined by our Investment Committee using a composite of various rates and economic factors.

If you meet the eligibility requirements during the statement cycle, the rate paid in your account on balances between $0.00 and $19,999.99 will be the rate listed in Tier 1.

If you meet the eligibility requirements during the statement cycle, the rate paid in your account for the portion of the account balance greater than or equal to $20,000.00 will be the rate listed in Tier 2. If you do not meet the eligibility requirements during the statement cycle, the rate paid in your account for the entire balance will be the rate listed in Tier 2.

COMPOUNDING AND CREDITING. Interest will be compounded monthly and will be credited to another account monthly. If you close your account before interest is credited, you will not receive the accrued interest.

MINIMUM BALANCE REQUIREMENTS. You must deposit $100.00 to open this account. A monthly service fee of $10.00 will be imposed every statement cycle if the daily balance on any day of the statement cycle falls below $2,500.00.

You must maintain a minimum daily balance of $100.00 in the account each day to obtain the disclosed annual percentage yield.

DORMANT/INACTIVE ACCOUNT INFORMATION. A dormant account fee of $10.00 per month will be charged after 365 days of inactivity. An account is considered dormant and a dormant account fee of $10 per month will be charged when an account lists an invalid address for the primary owner and the account has been inactive for 365 days.

PROCESSING ORDER. All credits post first. Then debits are generally posted in the following transaction type order; within each transaction type, transactions post by amount order, low to high. Items with check numbers post in serial order; when a check number is not present, then posting occurs by amount order, low to high.

Debit Transaction Type Posting Order

ATM Withdrawals
Online Banking and Anytime Banker Transfers
On-Us Teller Cashed Checks
3rd Party Cashed Checks
ITM Cashed Checks
Debit Card PIN transactions
Debit Card POS Signature transactions
Debit Card Recurring transactions
ACH Debits
ITM Checks Deposited at RCB Bank
On Us Checks Deposited at RCB Bank
Checks Deposited at another institution

*This is not an all-inclusive list. These are the most common types of transactions and may not include transactions used less frequently. If you have any questions, please contact us at (855) 226-5722.

**Serial Order – Chronological order of the serial number. (i.e. check number 1001 will post before check number 1007 if both are received on the same day within the same group listed above.) The processing order of these items is important because if there is not enough money in the account to pay for the items in the order they are processed in accordance with the processing order, there may be an overdraft on your account which may result in overdraft or non-sufficient funds fees or an increase in the amount of these fees.

OVERDRAFT PROTECTION. An overdraft on your account occurs when you do not have sufficient funds in your account to cover items such as a traditional paper check, a teller withdrawal, an automatic payment (ACH) transaction or a recurring debit payment.

Overdrafts can occur through the use of your RCB Bank debit card, if you opt in to Enhanced Bounce Protection. Please refer to the Bounce Protection disclosure contained in your account paperwork for a complete description of how and when Bounce Protection may be added to your account. Repeated overdrafts could result in account closure. See TRANSACTION LIMITATIONS section for further information.

BALANCE COMPUTATION METHOD. We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.

The daily balance that we use when calculating interest is the collected balance. That means we only include those funds for which we have actually received payment when we determine the daily balance on which interest is paid.

ACCRUAL ON NONCASH DEPOSITS. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

TRANSACTION LIMITATIONS. Repeated overdrafts created through debit card transactions that are authorized against a positive balance in the account but results in or creates a negative balance upon settlement may result in account closure.


PRINTED CHECKS. Two boxes of RCB Bank custom checks (wallet or duplicate) may be ordered per year upon request at no charge.

ERROR RESOLUTION. If you have questions about your Rewards qualifications, please call or write your local RCB Bank branch or call our Call Center at 855-226-5722 within 30 days of the statement. We will promptly research any problems or errors you believe have occurred.

NEGATIVE REPORTING TO CREDIT BUREAUS. We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected in your credit report.

STATEMENT DELIVERY. We will provide an electronic (eStatement) on your account at no charge each month. If a paper statement is requested, a paper statement fee may be assessed to your account.

ACCOUNT CLOSURE. Please see the Deposit Agreement for specific account closure terms and conditions. RCB Bank will consider your account closed when the account balance has been at zero ($0.00) for seven (7) consecutive days. Removing all funds from the account may result in accidental closure. See OVERDRAFT PROTECTION and TRANSACTION LIMITATIONS sections for further information.

CURRENT RATE INFORMATION. The rate(s) and annual percentage yield(s) disclosed above were offered within the most recent seven calendar days, and were accurate as of 12/31/2099. To obtain the current rate(s) and annual percentage yield information, please call (855)226-5722.

FEES AND CHARGES. Please refer to the separate Fee Schedule provided to you with this disclosure for information about fees and charges associated with this account. A Fee Schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.