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Rewards and Requirements
Statement Cycle
Debit Card Transactions
eStatements
Account Limits
Opening/Converting Accounts
If you have any other questions about Elite Checking please call or visit any one of our 11 branches.
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Rewards and Requirements
What are the "rewards" for Elite Checking?
3.50% APY premium rate on average daily balances $0 - $25,000
0.25% APY premium rate on the remaining average daily balances above $25,000
0.10% APY base rate if qualifications are not met
Up to $20.00 nationwide ATM transaction fees are automatically reimbursed at the end of each statement cycle for qualifying accounts
What are the requirements that must be met to qualify for the "rewards" for this account?
For each qualification cycle, accountholders must:
Perform 10 or more debit card transactions
Enroll in eStatements
Receive one or more direct deposit(s) or ACH debit(s)/credit(s) transaction
How often must the requirements be met to qualify for the rewards?
Requirements must be met each qualification cycle.
If I do not meet the requirements for Elite Checking, what happens?
Dividends will be paid at the base rate of 0.10% APY and your ATM surcharge fees will not be refunded for that qualification cycle.
If I meet the requirements, when will I receive my rewards?
You will receive your rewards on the last day of each statement cycle.
Are there any monthly service fees or charges?
No. There are no monthly service fees or charges.
How does the tiered dividend rate for Elite Checking work?
When you meet the requirements, you will receive a premium rate of 3.50% APY on your average daily balance between $0 - $25,000. You will receive a premium rate of 0.25% APY on the portions of your balance above $25,000.* If you do not meet the requirements, you will receive a base rate of 0.10% APY on the entire account balance for that statement cycle.
Example: When you meet the requirements for that qualification cycle and your account has an average daily balance of $30,000, $25,000 of that balance will receive the 3.50% APY premium rate and the remaining average daily balance of $5,000 ($30,000 minus $25,000) will receive the 0.25% APY premium rate.
Can the dividend rates change on my Elite Checking account?
Yes. Dividend rates and APYs on Elite Checking are subject to change, at HawaiiUSA FCU's discretion, at anytime.
Is this just a "teaser" or promotion yield/rate?
No. However, all dividend rates and APYs on Elite Checking may change at HawaiiUSA FCU's discretion.
How is the dividend calculated?
By using the average daily balance method, dividends are compounded monthly and paid on the last calendar day of the month.
If I use another financial institution's ATM and pay a fee, when will I get my refund?
When the requirements are met, up to $20.00 nationwide ATM transaction fees are automatically reimbursed at the end of each statement cycle.
Aside from meeting the requirements each statement cycle, do I have to do anything in order to get my ATM refund?
No. ATM refunds are automatically paid at the end of each statement cycle. However, ATM surcharges above $4.99 per transaction are not automatically refunded. If you do not exceed the maximum ATM refund amount of $20.00 in that qualification cycle, you can still get your reimbursement for ATM surcharges in excess of $4.99. Visit any of HawaiiUSA FCU's convenient locations and present a valid receipt displaying the ATM surcharge.
Are fees refunded on ATMs used internationally?
No. Refunds of ATM surcharges are nationwide (United States) only.
How will I know that I have qualified for my rewards at the end of the statement cycle?
You will receive an e-mail notifying you as to whether you did or did not meet the requirements. If you did not qualify to receive the rewards, the e-mail will let you know which requirement(s) was not met. Also, you can log onto DirectLink, HawaiiUSA FCU's internet banking and review your account.
Will Elite Checking members receive a 1099 at the end of the year reflecting dividends earned over the year?
Yes.
If my account is overdrawn, will I still be able to qualify for my rewards during that statement cycle?
Yes, as long as the requirements are met. However, your account may be subject to overdraft fees.
If I fail to meet the requirements during this statement cycle, can I still have a chance to qualify during the subsequent statement cycles?
Yes.
If my new debit card does not arrive until late in the qualification cycle and I don't have time to earn my rewards, will I still get them?
All new Elite Checking accounts will automatically receive rewards for the first statement cycle, regardless of qualifications. This will give you time to get your debit card and start using it for the next qualification cycle.
If I miss my requirements by only one debit card transaction, can I call in and get my interest and ATM refunds anyway?
No. All requirements must be met in order to receive the rewards.
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Statement Cycle
What is a qualification cycle for Elite Checking?
The qualification cycle is a period beginning one business day prior to the start of the current statement cycle through one business day prior to the close of the current statement cycle.
What is a statement cycle for Elite Checking?
The statement cycle ends on the last calendar day of each month.
Will all Elite Checking members be on the same statement cycle?
The statement cycle ends on the last calendar day of each month.
If my account is converted to an Elite Checking account, will my statement cycle change?
If your statement is not already being issued on the last calendar day of each month, it will change.
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Debit Card Transactions
If I use my debit card at an ATM, will that transaction count towards my requirements?
No. Only POS (point-of-sale) transactions count towards qualifications, whether it is PIN or signature based.
What is a "settled transaction"?
A settled transaction is one that has been posted to an account. Debit card transactions must be considered "settled" to be counted within each qualification cycle.
Note: Debit card transactions may not post to an account immediately.
May I "carry forward" debit card transactions in excess of the required number to the next statement cycle?
No.
Will the transactions from this statement cycle on my old checking account count towards the required transactions for this statement cycle on my Elite Checking account?
No. The requirements must be done on the new Elite Checking account. However, this is not necessary as all new Elite Checking accounts will automatically receive rewards for the first statement cycle, regardless of qualifications.
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eStatements
Must I access my eStatements online in order to qualify for the rewards?
No. You must enroll in eStatements; however, it is not required for you to view it. (HawaiiUSA FCU strongly recommends that members review their eStatements upon receipt.)
Can I receive check images with my Elite Checking account?
Yes. You can access check images if you enroll in eStatements.
Can I have an Elite Checking account if I don't own a computer?
Yes. You do not have to own a computer; however, you must provide a valid e-mail address for notification of qualification. Also, to access your eStatements, you must be enrolled in DirectLink, HawaiiUSA FCU's internet banking service.
How can I receive printed copies of my statements and/or check image?
You may print a check or statement from a computer. Internet banking archives 12 months of statements for viewing and/or printing. Also, HawaiiUSA FCU may print statements and checks for you for a nominal fee.
How long will my statements be available online?
Internet banking archives 12 months of statements.
What happens if I change my e-mail address?
You must notify HawaiiUSA FCU when your e-mail address changes so that you will receive the notification of qualification.
What if I decide not to have my statement delivered electronically?
Electronic statement delivery is one of the qualification requirements for Elite Checking. If you do not intend to receive your statements electronically, you will not qualify to receive the premium rate and ATM refund benefits.
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Account Limits
Is there a limit on the amount of money I can keep in my Elite Checking account?
No. You can keep as much money as you want in your Elite Checking account. Also, you can choose to consolidate all of your accounts at other financial institutions into your Elite Checking account.
What is the minimum deposit to open an Elite Checking account?
$20.00.
Is there a minimum balance requirement in order to receive my rewards?
No.
Is there a limit on the amount of ATM refunds that I can receive during a statement cycle?
Yes. You can receive up to $20.00 in ATM refunds during a qualification cycle.
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Opening/Converting Accounts
Is overdraft protection available for Elite Checking accounts?
Yes. Overdraft protection is subject to approval.
What accounts can be converted to an Elite Checking account?
Any existing sharedraft checking account can be converted to an Elite Checking account.
When I convert my account, will I be able to use my existing debit card, checks, and account number with my Elite Checking account?
Yes. When your account is converted, your existing debit card, checks, and account number will remain the same.
How do I convert my current checking account to an Elite Checking account?
Visit any of HawaiiUSA FCU's ten convenient locations and talk to a New Account representative. We would gladly help you!
Can I open an Elite Checking account over the phone?
No. Not at this time.
Can I open an Elite Checking account over the internet?
No. Not at this time.
Can I open multiple Elite Checking accounts under the same account number?
No.
Can a DBA or Business use an Elite Checking account?
No.
Will I receive free checks with my new Elite Checking account?
You may receive free custom checks with net payroll direct deposit. Designer checks are also available for a nominal fee.
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