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Power Checking

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

Features
Power Checking
Minimum balance to open
$100.00
Minimum daily balance
$0.00
Monthly service charge3
$0.00
Free and Required
Paper Statement Fee3
$3.00/statement
Paper Image Statement Fee3
$3.00/statement
Earns Interest1,2
Yes - Tiered Rate Structure
FREE
FREE
$2.00/month
No initial setup fee
No initial setup fee
$10.00 initial setup fee
MidWestOne-owned ATM withdrawals
FREE 
Non-MidWestOne-owned ATM withdrawals
$1.00/withdrawal.  Refunds up to $15.00 per month#
Additional Benefits & Information
To qualify for the Power Rate and receive ATM fee refunds, each qualification cycle, you must:
1. Receive monthly Online Secure eStatements;
2. Have at least 10 check card transactions post and clear (excludes ATM and PIN-based transactions); and
3. Have at least one direct deposit, automatic debit from a third party, or an online bill payment transaction post and clear.
  # Refunds up to $15.00 per qualification cycle will be made for domestic ATM surcharges paid as well as ATM usage fees.  ATM surcharges greater than $4.00 are not autoamatically refunded and require the presentation of a receipt for refund.

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
  • 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.

 

(1) Daily Balance Method used to calculate interest on account. This method applies a daily periodic rate to the principal balance in the account each day.
(2) Interest rates are variable and subject to change at the bank’s discretion at any time. The annual percentage yield may vary due to the interest rate changes and fees. Please refer to our Deposit Rates for current interest rates and annual percentage yields based on designated balance tiers.
(3) Sales Tax will apply to these items.
(4) This relationship includes personal checking, savings, certificate of deposits, IRA's and current balance on consumer loans.  Excluding residential real estate loans, demand deposit loans, and Fresh Start loans.
(5) The mobile app is free.  The service is free.  Message and data rates may apply from your wireless carrier.

MidWestOne Bank will deem your transactional account inactive if you do not make any deposits to, or withdrawals from the account for a 12-month period. An inactive account remains subject to service charges and may be assessed a non-refundable monthly $5 inactivity fee. The statement cycle may also change to semi-annual with June 30 and December 31 statements.