Debunking Myths About Reward Checking
You may have heard a lot of buzz around rewards-based checking accounts but think ‘what’s the catch?’ or ‘what hoops do I need to jump through before I can truly earn the rewards?’ Well, check out these tips below to help debunk the questions around rewards-based checking accounts and get on the road to savings.
- Financial institutions may ask you to complete a few tasks to qualify for the rewards. Honestly, these are things most people are already doing and why not consider rewards just for the banking at your financial institution.
For example, at Centric, we pay our members 4.15% APY on their balances all for completing 12 debit card swipes, enrolling in an e-statement and one direct deposit all within one monthly cycle. Sounds easy huh? Better yet,Centric will refund ATM fees incurred during the month when you qualify.
- When reviewing the rewards-based checking accounts, verify what happens if you don’t qualify. Ask questions like:
- What’s the minimum balance on my account to earn rewards?
- What happens if I don’t qualify?
- Is the account free?
At Centric, there’s no minimum balance to maintain or to earn rewards and no penalties if you don’t qualify—the account is still free plus there’s a non-qualifying late earned each month you may miss the mark!
Being curious is rewarding and if you have questions, our team has answers. We would love to share the wealth with you and your family. To start earning today, open your account online at or give us at a call at 318-340-9656.
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