3. We will compare deposit accounts elsewhere to help you save and even grow your money.
We pride ourselves on having competitive rates on 3Rivers deposit accounts, but even more than that, we want to take the time to compare your current deposit accounts to see where you could save money on more than just rate.
That’s right, there’s more to a deposit account than just the rate, and when you sit down for a WalletCare conversation, we’ll look at things like fees, balance requirements, convenience factors, and other details that you may not realize are impacting your current accounts.
Every bank and credit union charges fees. Yes, we do too. But where we strive to set ourselves apart is our ongoing effort to help our members avoid fees whenever possible. At 3Rivers, we only charge fees for two basic reasons. Fees are meant to either make up the cost of providing a specific service (Foreign ATM fees) or to encourage healthier financial habits (Overdraft fees). If you ever want to know why a fee has been charged, just ask. We aren’t trying to hide fees, and we’ll always try to give you options to avoid them in the future. That’s one way we can determine the best deposit account for your spending needs.
That exciting deposit account you’ve seen advertised may seem great, but when you realize that it requires a minimum balance that isn’t realistic for you, that account may lose some of its appeal. If you’re looking for real answers about those “great deals” we’re happy to dig deeper with you and find out if they’re really as good as they sound. Chances are, 3Rivers probably has a better option for you.
Time is money. In most cases, even a slight rate increase is worth the convenience 3Rivers can provide. With 18 convenient branches, thousands of surcharge-free ATMs, and 24/7 access online and on your mobile devices, it may make more sense to keep your accounts at 3Rivers to avoid the hassle of dealing with an institution you can’t get to. Your WalletCare conversation will give you a chance to see just how convenient a 3Rivers membership can be.
Then there’s the rest. The key to a WalletCare conversation is taking the time to really examine your financial needs to find the right solutions personalized for you. We’re not just dealing a pre-packaged account bundle to everyone. We’ll listen to your needs and find the best way to save you time and money, not just with your deposit accounts, but with all of your money matters.
3Rivers is looking for three highly motivated individuals to work with our Young & Free Indiana Spokester, Aly Hess, this summer! The Summer Street Team will be blogging, attending events and representing the 15-25 crowd on all things money matters. To know more, visit YoungFreeIndiana.com!
We’re all looking for ways to make small improvements here and there as the new year begins, and saving money is always a good place to start! A great and simple way to save yourself a lot of money and a lot of headaches is to find ways to avoid fees on your checking and savings accounts whenever possible. We want to help you do that by giving you some quick info about your ATM/Debit card and how to avoid paying fees when using it.
First, it’s important to understand the types of fees and transaction terms you might see when looking at your transaction history. Here are some quick definitions:
Foreign ATM Fee:
A fee charged to 3Rivers members for use of a machine that is not owned by 3Rivers
A charge for use of the machine by the institution that owns the ATM.
Shared ATM Network:
A collection of several community banks and credit unions who have agreed not to collect surcharge fees from customers and/or members of other institutions who participate in the network. 3Rivers is a part of three Shared ATM Networks: Co-Op Network, AllianceOne and CU24.
Point of Sale (POS):
The use of your debit card in the course of a transaction for goods and services. You will be prompted to select whether you process as a credit (signature based) or debit (PIN based). Always choose credit in order to avoid potential card fees.
Now, let’s look at some basic scenarios to show you how these fees occur when using your 3Rivers card. Keep in mind, these situations will vary based upon the checking and/or savings accounts you have:
When using 3Rivers ATMs: ALWAYS FREE for Members of 3Rivers no matter what checking or savings accounts you own.
When using ATMs that are NOT owned by 3Rivers:
- $1 Foreign ATM Fee per transaction if making a transaction on a Standard Savings, Standard Checking or Reward Checking Account. This fee is charged by 3Rivers.
- A surcharge MAY apply and is charged by the institution that owns the machine. The amount is determined by the institution that owns the machine and 3Rivers has no hand in determining that amount or in charging. IF YOU HAVE AN EPIC or RHYTHM CHECKING ACCOUNT, we will REFUND up to $12 (limit of $3 per transaction) per month provided you meet the rewards qualifications during that rewards cycle.
- If using an AllianceOne, CU24 or Co-Op Network ATM, there is NO SURCHARGE from the institution that owns it. However, if transacting on a Standard Savings, Standard Checking or Reward Checking Account, a $1 per transaction Foreign ATM Fee is applicable. This is charged by 3Rivers.
Point of Sale Transactions using a 3Rivers Debit Card: Regardless of the account you have, if you process as a signature-based transaction (as Credit), they are completely free. However, if you process the transaction as a PIN-Based transaction (as Debit) and you are making a transaction on a Standard Savings, Standard Checking or Reward Checking Account, a $1 per transaction Foreign ATM Fee is applicable. This is charged by 3Rivers.
We want to help you save money so you can use it for what matters most to you instead of paying fees. The most important point to remember is that you have control and don’t have to incur the fees. If you are unclear about these or any fees, you can always ask your local branch representatives or give us a call (260.490.8328 or 800.825.3641, option 1).
As always, thanks for your relationship with us. We’re excited to be part of making your new year a financially healthy one!
Rhythm Checking officially launches on August 1 (that’s tomorrow!). This new solution offers exciting rewards options for using the services you probably already use every day.
- Do you make purchases with a debit card?
- Do you go online or use your mobile phone to manage your accounts?
- Do you use direct deposit or automatic payments or online bill pay?
- Do you receive your monthly statements electronically?
If you’re vigorously nodding your head “yes” then Rhythm Checking is going to be a great new solution for your spending needs.
Rhythm Checking members will have the ability to earn their choice of rewards types. If earning dividends is important to you, then you may want to choose dividend rewards when you open your Rhythm Checking account.
But, if you’re a frequent purchaser from iTunes or Amazon.com, you might consider the tunes rewards option. Plus, members opening a new Rhythm Checking with tunes rewards get $10 in tunes credits right away! So, let’s say you open a Rhythm Checking with the tunes option on August first and use your 3Rivers debit card to make at least $10 in purchases from iTunes and/or Amazon.com. At the end of the qualifications cycle, we’ll tally your purchases and you’ll receive a refund in your Rhythm Checking for up to $10 of your total purchases.
Earning rewards will be simple. Just complete these 4 monthly qualifying steps:
- Make 10 purchases with your Rhythm Checking debit card
- Login to Online Access and/or make a transaction (transfer of funds) to/from your Rhythm Checking with Mobile Access
- Do one of the following with your Rhythm Checking: Direct Deposit, Automatic Payment, Online Bill Pay
- Receive eStatements
Like you read earlier, you’re probably doing these things already so it couldn’t be easier to earn some really great rewards. Your chance to open a Rhythm Checking account is coming August 1! Yes, that’s tomorrow!
[Minimum to open account is $50. Earn $10 in iTunes® and/or Amazon® / Amazon.com® refunds with initial account opening regardless of qualifications. Earn up to $5 in iTunes® and/or Amazon® /Amazon.com® refunds each cycle the minimum qualifications are met. Refunds will only apply to iTunes® and/or Amazon® / Amazon.com® purchases made with your debit card associated with your 3Rivers Rhythm Checking account. Qualifying transactions must post and clear the account during the monthly qualification cycle. Transactions may take one or more business days to post and clear an account after the date a transaction is made. ATM transactions do not count as qualifying transactions. Intra-bank transfers do not count as qualifying ACH transactions. Nationwide ATM surcharge fee refunds up to $12 provided only if qualifications are met during the monthly qualification cycle. If monthly qualifications are not met, a $7 fee will be charged to the Rhythm Checking account. iTunes is a registered trademark of Apple, Inc. and Amazon.com is a registered trademark of Amazon Inc. Apple Inc. and Amazon Inc. are not participants in or sponsors of this program. Personal accounts only. Limit one account per household.]
Thanks to the folks over at NerdWallet for noticing a great thing when they find it. They’ve identified the Livin’ Free Spending account as one of the top free checking accounts available from credit unions across the nation. Here’s a little of their comments:
Big banks may be raising their fees, but credit unions are rolling out the welcome mat. Many credit unions have offered free checking for years, and an increasing number have started offering extra perks like debit rewards and interest to go along with it
The Livin’ Free Spending Account gives you free access to thousands of ATMs through two major networks and Credit Union Shared Branching, which allows you to use other credit union branches that participate in the program. The Oops Refunds program will refund your penalty charges up to three times a year.
To learn more about Young & Free Indiana and The Livin’ Free Spending Account visit youngfreeindiana.com.