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Heartland Bank RCA Changes Effective 9/11/13

Wednesday, July 24, 2013 - 4:45 PMHeartland Bank - Details
Heartland Bank is making the following changes effective 9/11/13:

Current setup of Interest Plus + Cash Back:
3%APY on up to $15k when the following qualifications are met:
10 debit card transactions post and clear
1 automatic payment or direct deposit post and clear
Receive Estatements
Access online banking monthly

Bonus of $0.10 cash back per debit card transaction on purchases of $50 or more made during qualification cycle (maximum cash back reqard $5 per monthly cycle)

 
New setup of Interest Plus + Cash Back effective 9/11/13:
a) 3%APY on up to $15k when the following qualifications are met:
25 debit card transactions of $5 or more post and clear
1 automatic payment or direct deposit post and clear
Receive Estatements
Access online banking monthly

b) 2%APY on up to $15k when the following qualifications are met:
10 debit card transactions of $5 or more post and clear
1 automatic payment or direct deposit post and clear
Receive Estatements
Access online banking monthly

In addition, effective 9/11/13,
a) customers may have up to 2 Interest Plus + Cash back accounts per Social Security number, instead of only one per SSN.

b) there is a new bonus of 0.25% cash back on credit / signature based Master Card debit purchases of $50 or more (limit of $250 cash back per monthly qualifying cycle)

Kudos to the bank for giving customers advance notice of this change. 
3
pearlbrownpearlbrown1,356 posts since
Nov 2, 2010
Rep Points: 5,954
1. Thursday, July 25, 2013 - 10:09 AM
At 25 debits of at least $5 to get 3% on $15K makes no sense! Even shopping at the Dollar Stores gets to be a pain for that many items. How about a chart showing the point of diminishing returns on these types of account? 
4
Patty4usPatty4us2 posts since
Jul 25, 2013
Rep Points: 6
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