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Power Checking

You're the One® who has the POWER with Power Checking at MidWestOne Bank!

Important Account Changes Coming April 24, 2014.

To earn the Power Rate on up to $25,000 and receive domestic ATM surcharge refunds nationwide, follow these 3 simple requirements and helpful tips:

Have at least 10 signature-based check card purchases post & clear each qualification cycle

  • As a rule of thumb, whenever you swipe your Check Card and don’t enter your PIN, that counts as a signature-based transaction
  • Debit or credit? Choose “credit”
  • Gas pumps, if given a choice, select “Pay Credit Here”
  • Online purchases count as signature-based transactions
  • Qualification cycle always ends the fourth Wednesday of each month, and transactions may take a few days to post (Hint: Try to get your 10 purchases done early on in the month).

Have at least one direct deposit, automatic debit from a third party, or a bill payment transaction post & clear each qualification cycle. Such as:

  • Payroll into your account
  • Automatic monthly payment to your insurance company
  • Automatic monthly payment to a utility company
  • Online bill payments do count as automatic debits if you are using MidWestOne Bank’s bill pay service
  • If using another means to make a bill payment, it will count as an automatic debit if you are using our routing number and your account number to make the payment or it will count as a signature-based check card transaction if using your Check Card to make the payment
  • Automatic transfer to loans or other deposit accounts within MidWestOne Bank do not count

Enroll and receive online Secure eStatements

  • Register for Online Secure eStatements online at MidWestOne.com (under Personal Banking, click through to Personal Online Services, MidWestOne Secure Statements, then click Enroll Now)
  • or Enroll in Online Banking at MidWestOne.com (under Personal Banking, click through to Personal Online Services, then click Enroll Now). This automatically registers you for Online Secure eStatements.
  • You must accept electronic delivery with a valid email address. You must also access online banking at least once every 180 days to keep both your online banking account and Secure (electronic) eStatements active.
  • Qualifying accounts can receive up to $25 in refunded domestic ATM surcharges each qualification cycle
  • Qualifying accounts earn the “Power Rate” on balances up to $25,000
  • Qualifying accounts earn the “Second Tier Rate” on the remaining balance above $25,000
  • For example: An account balance of $30,000 will receive the “Power Rate” on the first $25,000 and the remaining $5,000 will earn the “Second Tier Rate”
  • Accounts that do not meet the qualification requirements will earn the “Base Rate” and operate similar to a Free Checking Account
  • The qualification cycle is the same as the current statement cycle. The qualification cycle ends on the fourth Wednesday of the month.
  • Rates are subject to change at any time. Minimum balance to open account is $100.00