Kasasa Saver Disclosure
*Qualifications Information: Account transactions and activities may take one or more business days to post and settle to the account and all must do so during the Monthly Qualification Cycle in order to qualify for the account’s rewards. The following activities do not count toward earning account rewards: ATM-processed transactions, transfers between accounts, debit card purchases processed by merchants and received by CNB Bank, Inc. as ATM transactions, non-retail payment transactions and purchases made with debit cards not issued by our bank. Transactions bundled together by merchants and received by our institution as a single transaction count as a single transaction for the purpose of earning account rewards. “Monthly Qualification Cycle” means a period beginning one (1) business day prior to the first day of the current statement cycle through one (1) business day prior to the close of the current statement cycle. “Statement Cycle” means the period of time for which CNB Bank, Inc. provides a summary of the financial activities and transactions that post and settle to the accountholder’s account. “Business Day” means a calendar day other than a Saturday or Sunday and federal holidays.
Reward Information: When your Kasasa Cash or Kasasa Cash Back account qualifications are met during a Monthly Qualification Cycle, the following rewards will be distributed to your account(s) on the last day of the statement cycle:
- Kasasa Saver: Balances up to and including $10,000 receive APY* of 0.50%; and balances over $10,000 earn 0.25% interest rate on the portion of balance over $10,000, resulting in a range from 0.50% to 0.27% APY* depending on the account’s balance.
- Kasasa Cash: Balances up to and including $10,000 receive APY* of 2.25%; and balances over $10,000 earn 0.25% interest rate on the portion of balance over $10,000, resulting in a non-compounding range from 2.25% to 0.43% APY* depending on the account’s balance.
- Kasasa Cash Back: 3.00% cash back on up to a total of $250.00 debit card purchases that post and settle to the account during that cycle period. A maximum of $7.50 cash back may be earned per Monthly Qualification Cycle.
When Kasasa Cash and Cash Back qualifications are not met,
- Kasasa Saver: All balances earn 0.03% APY*.
- Kasasa Cash: All balances earn 0.03% APY*.
- Kasasa Cash Back: No cash back payments are made.
When linked to the Kasasa Saver account, the interest earned within the Kasasa Cash account does not compound since it is automatically transferred to the Kasasa Saver account the day after being credited to your Kasasa Cash account. Note: This transfer may cause an overdraft to your Kasasa Cash account, if the account’s balance is less than the transferred amount when transfer occurs. For clarity, when linked to Kasasa Saver all of the rates shown above would be non-compounding APYs.
The Kasasa Saver APYs may be less than the Kasasa Cash APYs. *APY = Annual Percentage Yield. APYs accurate as of 06/01/2016. Rates and rewards are variable and may change after account is opened. Fees may reduce earnings.
Additional Information: Account approval, conditions, qualifications, limits, timeframes, enrollments, log-ons and other requirements apply. A $50 minimum deposit is required to open the account. Enrollment in online banking, receipt of electronic statements, having an active CNB Bank, Inc. debit card and maintaining a valid email address with CNB Bank, Inc. are conditions of this account. Log-on activity to electronic services may be required to meet some of the account’s qualifications. Limit one account per primary account holder social security number. A Kasasa Cash or Kasasa Cash Back account is required to have a Kasasa Saver account. A linked Kasasa Saver account is required for automatic savings. There are no recurring monthly service charges or fees to open or close this account. Contact a CNB Bank, Inc. service representative for additional information, details, restrictions, processing limitations and enrollment instructions. Member FDIC. Kasasa, Kasasa Cash Back & Kasasa Saver are trademarks of Kasasa, Ltd., registered in the U.S.A.