The bank has emailed customers notice of the rate and balance cap cuts that will take effect on January 2, 2014. Thanks to the reader who forwarded me the email.
Effective Jan 2, 2014, the Pure Checking will change to:
- 2.01% APY on balances up to $20,000 (currently 2.51% on up to $25,000)
- 0.10% rate on portion of balance over $20,000 (currently 0.26% on portion over $25,000)
- 0.025% rate on entire balance if requirements not met (currently 0.05%)
Also, worldwide ATM refunds will be limited to $25 per month.