Vault Checking
3.00% APY1
Earn more money as you maximize your balances up to $10,000 with Community Bank & Trust's premium rate. Simply meet all of the below requirements:
- 10 Visa® debit card transactions posted per statement cycle totaling $100 (excludes ATM transactions)
- Set up one monthly direct deposit or debit with $250 minimum
- Enroll in Personal Online Banking
- Download mobile banking app featuring bill pay, person-to-person payment and mobile deposit
- Receive eStatements2
POWERFUL BUILT-IN SECURITY
Enjoy peace of mind as you protect your hard-earned money with Community Bank & Trust's powerful multi-layer account security - regardless of which device you're on!
- Fingerprint and Face ID login available for mobile banking app
- Verification Code Texts for log ins from unfamiliar PC
- Chip-enabled Visa® debit card
- Free 24/7 credit score access via mobile app and online banking including free monthly credit reports, credit alerts to help monitor for fraud, and personalized tips to improve your score.
- 24/7 Debit card fraud alerts
- Ability to turn "off" your card if lost or stolen with CBT Card Control
- Fraud recovery services with dedicated fraud specialist
Additional perks: Free Visa® debit card. Checks available. 24 hour phone banking. Safe deposit box free for first year.3
Q: What are the requirements to earn 3.00% APY1 on my Vault Checking account?
A: The account requirements are as follows:
- 10 Visa® debit card transactions posted per statement cycle totaling $100 (excludes ATM transactions)
- Set up one monthly direct deposit or debit with $250 minimum
- Enroll in Personal Online Banking
- Download mobile banking app featuring bill pay, person-to-person payment and mobile deposit
- Receive eStatements2
Q: Is this account FDIC insured?
A: Yes, this account is FDIC insured up to $250,000.
Q: What happens if I don’t meet the requirements for Vault Checking?
A: If you have not met the requirements of the account, the interest rate and APY paid on the balance in your account will be 0.01%.
Q: Can I “carry forward” debit card transactions in excess of the 10 required Visa® Debit Card transactions?
A: No, requirements must be met within each statement period.
Q: How can I convert my current CBT checking account to a Vault Checking account?
A: Contact any CBT Account Executive at 319.291.2000 or visit any of our locations. They will assist you to make sure you have the correct account to best meet your needs.
Q: Will I be able to use my existing Visa® Debit Card from CBT if I convert my account to Vault Checking?
A: Yes, you will be able to use your existing Visa® Debit Card. Also, your account number, checks, online banking, automatic withdrawals and direct deposits will be carried over to your Vault Checking account.
Q: Will the ACH transactions that were attached to my old CBT account automatically transfer over to my new Vault Checking account?
A: Yes, you will not have to re-initiate these transactions.
Q: Do I receive 3.00% APY1 on my total balance?
A: You receive 3.00% APY1 on balances of $10,000 or less.
Q: Will transactions from the statement cycle on my old CBT account be allowed as required transactions for my new Vault Checking for this statement period?
A: No, you will not be allowed to carry over transactions as required transactions for the existing statement cycle.
Q: Will the prior history from my transferred CBT account be viewable on online banking?
A: Yes, this information will transfer over to your Vault Checking account.
Q: Will my statement cycle/period change?
A: Possibly. Your Vault Checking statement period will start on the first day of the month and end on the last business day of the month. All Visa® debit card transactions (excludes ATM transactions) that occur during the statement cycle will count towards the required transactions.
Q: Is there a minimum balance requirement?
A: No, there is no minimum balance requirement. However, there is a $100 minimum balance requirement to open your account.
Q: If I qualify, when will I receive my interest?
A: You will receive your interest at the end of each statement cycle, which is the last business day of each month.
Q: Do I receive 3.00% APY1 on my total balance?
A: You can receive 3.00% APY1 on balances of $10,000 or less as long as you have met the account requirements.
Q: What about balances over $10,000.01?
A: An interest rate of .10% will be paid only for that portion of your daily balance that is greater than $10,000.01. The APY range for this tier will be 3.00% to 0.22%. Regardless of your balance, if you do not meet the requirements listed, the interest rate and APY will be 0.01%.
Q: Can the interest rate change on my Vault Checking account?
A: Yes, this is a variable rate account and the rate may change at any time at our discretion.
Q: How is my interest calculated?
A: Interest is compounded monthly and will be credited to the account monthly. We use the average daily balance method to calculate the interest. This method applies a daily periodic rate to the average daily balance in the account for the statement cycle.
Q: If I use my Visa® Debit Card at an ATM and enter my PIN, will that transaction count toward my 10 required transactions?
A: No, ATM transactions do not count toward this total.
Q: How do I know whether to select “credit” or “debit” at a merchant?
A: CBT prefers that you run your transactions as credit-based. To do so, please inform the merchant that you would like to use the “credit” function of your card and have them process as a “credit” transaction.
Q: What if I use my debit card at a merchant and they ask me to input my PIN #?
A: Inform the merchant that you would prefer to use the “credit” function of your card and have them process it as a “credit” transaction.
Q: What if I’m at a merchant and they do not ask me to sign or enter a PIN #?
A: Some merchants have made the decision to not require a PIN or a signature for small dollar items. In this case, this transaction will count towards your 10 transactions per month.
Q: If I use another bank’s ATM and pay a fee, will I receive a refund?
A: No. However, you have access to a network of surcharge-free ATMs through CBT’s affiliation with the Shazam Privileged Status Network. The network includes approximately 1,000 ATMs nationwide and over 100 in the greater Cedar Valley area. Just look for ATMs that display the Privileged Status logo or visit https://www.shazam.net/atms/.
(1) Annual percentage yield. Rate may change after account opening. APY is accurate as of July 1, 2024, and is not an introductory rate. Opening deposit requirement of $100. APY is for balances up to $10,000. An interest rate of 2.96% will be paid only for that portion of your daily balance that is $10,000 or less. The APY for this tier will be 3.00%. An interest rate of .10% will be paid only for that portion of your daily balance that is greater than $10,000. The APY range for this tier will be 3.00% to 0.33%. Regardless of your balance, if you do not meet the requirements listed, the interest rate and APY will be 0.01%. Limit one Vault or MAXX checking™ account per Tax Identification Number. (2) Valid email address required. A $5 statement fee will be assessed on all accounts that do not sign up for e-statements within 90 days of account opening. Fees may reduce earnings. (3) Receive free 3x5 safe deposit box or 3x5 discount on all other available sizes during first year only. All fees subject to state and local sales tax.