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IBD note: It is 4% "maximum" cashback for $25 purchases ($1 per purchase) .
Terms:
Program Summary. There are three required components to the Program: (1) a First Citizens Bank retail checking account, (2) a linked Visa Check Card, and (3) a Bonus Savings Account, which must be linked to the retail checking account. The Bank will place $1 into your Bonus Savings Account for every non-PIN Visa Check Card "bonus transaction" made by you, another account owner, or an authorized signer or other agent on your Bank retail checking account after you have reached the required number of "monthly bonus qualifiers" for that statement cycle. A retail checking account can only be linked to one Bonus Savings Account at one time; however, multiple retail checking accounts can be linked to a particular Bonus Savings Account.
Eligibility and Enrollment. All individuals (business entities are excluded) who are First Citizens retail checking account customers and who qualify for and obtain a Visa Check Card linked to that account are eligible to participate in the Program if they also open and maintain a Bonus Savings Account and meet and maintain all other requirements of the Program as explained below. Customers must formally enroll in the Program to participate.
Qualified Transactions. Only bonus transactions that post to your linked checking account trigger the $1 bonus. A "bonus transaction" is any non-PIN Visa Check Card transaction in the amount of $25 or greater that occurs after your checking account reaches the required number of monthly bonus qualifiers for that month. For purposes of this Program, a "month" is defined as a statement period for your applicable checking account. A "monthly bonus qualifier" is a posted non-PIN Visa Check Card transaction in any dollar amount. For "new" customers (customers who enroll in the Program within 90 days of opening their retail checking account), the required number of monthly bonus qualifiers is five during the initial 12-month introductory period (the introductory period is counted from the end of the checking account statement cycle containing your Program enrollment date). For "new" customers after the 12-month introductory period, and for existing (not "new") retail checking account customers, the required number of monthly bonus qualifiers is ten. Banking transactions not specified above (including, but not limited to, point-of-sale PIN transactions, ATM transactions, checks, wire transfers, deposits, transfers, and online bill pay transactions) do not count as monthly bonus qualifiers or bonus transactions. We reserve the right in our sole discretion to determine whether a particular transaction is a bonus transaction or a monthly bonus qualifier.
Program Details. At the close of business on the last day of your checking account statement cycle, we will total the number of bonus transactions (see Section 3) that post to your checking account for that statement cycle period and process a single lump sum deposit of bonus dollars into your Bonus Savings Account the following business day. You will not receive the bonus unless your checking account and Bonus Savings Account are both open, linked, and in good standing at the time the bonus is credited. If you enroll in the Program mid-checking account statement cycle, you will not receive bonus dollars based on transactions posting prior to the date you enroll in the Program; however, we will count non-PIN Visa Check Card transactions initiated during the statement period but prior to enrollment as monthly bonus qualifiers. The maximum total bonus dollars per checking account is $500 per calendar year. We may cancel or change the Program at any time.
Details on Your Bonus Savings Account. The Bonus Savings Account is established solely for purposes of automating our deposit of your monthly bonus dollars. You may not maintain it as a stand-alone account. You may open your Bonus Savings Account with a zero balance. During the account's lifetime, you may make deposits and withdrawals in accordance with our Deposit Account Agreement. At the start of the Program, the annual percentage yield ("APY") on your Bonus Savings Account will be the same as the APY on our Regular Savings Account. However, the Bonus Savings Account is a variable-rate account and interest rates are subject to change at any time. For information on interest rates, fees and withdrawal limitations on this and all First Citizens Bank checking and savings accounts, refer to our Disclosure of Products and Fees - Checking and Savings. If your Bonus Savings Account is no longer linked to your checking account, or if no bonus dollars have been deposited into your Bonus Savings Account within the previous 12-month period, we may close your account or convert it to a Regular Savings Account without prior notice to you.
Termination of Your Participation in the Program. Customers may voluntarily cancel their participation in the Program at any time by contacting us. Upon cancellation, any bonus dollars accrued for the current checking account statement period will be forfeited. If, for any reason, whether by you or by us, your Bonus Savings Account is converted to another type savings account or a checking account, your participation in the Program will be terminated; however, on the business day following the end of the statement cycle period, you will receive any bonus dollars accrued during the checking account statement cycle period. Once the accrued bonus dollars have been paid to your converted account, we will automatically sever the link between your checking account and the converted account.
Program Changes, Termination. We reserve the right to suspend, terminate, or change the Program, or your participation in the Program, at any time without prior notice to you. We may also close or convert your Bonus Savings Account to another type of deposit account when we consider it appropriate or necessary to do so.
Tax Information. Bonus dollars that exceed $600 per Bonus Savings Account in any one calendar year will be reported to the IRS on Form 1099-MISC for the year credited.
Attached Files
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comp_freq.gif 6.33KB
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comp_all.gif 6.73KB
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