Not all checking accounts are over-achievers, but First Performance Checking is. With this checking account, you'll rack up interest simply by meeting a few basic qualifications.
- Earn interest on your entire balance with an opportunity to earn premium interest on the first $25,000 by just making 15 or more debit card purchases and a single Direct Deposit of $250 or more during a monthly Qualification Period*.
- Save with surcharge-fee free access to cash at over 55,000 ATMs worldwide that are in the Allpoint Network.
- Enjoy the convenience of free eBanking, Mobile Banking and eStatements.
- Use Mobile Deposit to quickly deposit checks.
- Access complimentary money orders and Cashier’s Checks.
- Avoid paying the $15.00 monthly maintenance fee when you have 5 or more debit card purchases during a monthly Qualification Period*.
- Compare to our other Checking Products.
First Performance Checking FAQs
The interest rate will display as 0.00% because the account can earn two different interest rates at the same time (a premium interest rate for balances of $0.01 to $25,000.00 and a lower interest rate for balances $25,000.01 and over). If the interest rate is displayed as 0.00%, this signifies that it is a Qualifying Account and is earning the highest interest tier at that time. See Rates for current Interest Rates and Annual Percentage Yields (APYs).
Yes, once the first statement has generated you will be able to see the APY earned and interest earned on the account. After the first statement this will also populate the values in eBanking for the Last Statement APY earned and Interest YTD section.
If you are using mobile wallet functionality (Apple Pay, Samsung Pay, Google Pay) where the purchase transaction is utilizing the First Bank debit card tied to your First Performance Checking, then yes, it will look just like a regular purchase. Account to Account transfers utilizing mobile wallet or an incoming Zelle transfer that uses the debit card do not count as a purchase.
No, there is a limit one per person (primary owner or TIN).
To allow time to set up your direct deposit and activate and begin making debit card purchases, we will waive all account transaction requirements for the first Qualification Period. During this time, you will enjoy a premium interest rate on account balances up to $25,000 and no monthly maintenance fee. For full details, please review our Checking Brochure.
*An account is evaluated each month on a specific Evaluation Date to determine if qualifications were met during a monthly Qualification Period; this Evaluation Date is three business days before the account’s Analysis Date (determined by the account’s analysis cycle code). The Analysis Date is typically the same as the Statement Date (unless a combined statement is utilized) and is the date interest is credited to the account. The Evaluation Date is the last day of the monthly Qualification Period which begins one business day after the previous month’s Evaluation Date, and it is similar to a lookback period. Qualifying transactions must post to the account during the monthly Qualification Period. Transactions may take one or more business days from the date of purchase to post to the account. Qualifications to earn a premium interest rate are:
- 15 or more debit card purchases; and
- A single Direct Deposit of $250 or more.
When all of the above qualifications are met and posted to the account during a monthly Qualification Period, the account is a Qualifying Account, and effective on the business day after the Evaluation Date, a premium interest rate of 3.00% will be paid on the portion of the account balance up to $25,000.00 (the APY for this tier will be 3.04%); and the portion of the account balance that is $25,000.01 or more will be paid at a lower interest rate of 0.10% (the APY for this tier will range from 3.04% to 0.10%, depending on the balance in the account); the account will be considered a Qualifying Account through the next Evaluation Date. When all of the above qualifications are not met and posted to the account during the monthly Qualification Period, the account is a Non-Qualifying Account, and effective on the business day after the Evaluation Date, a lower interest rate of 0.10% will be paid on the entire account balance (the APY will be 0.10%); the account will be considered a Non-Qualifying Account through the next Evaluation Date.
When the qualifications of five (5) or more debit card purchases are met and posted to the account during a monthly Qualification Period, the monthly maintenance fee will not be assessed on the Analysis Date following the Evaluation Date. When the qualifications of five (5) or more debit card purchases are not met and posted to the account during a monthly Qualification Period, the monthly maintenance fee will be assessed on the Analysis Date following the Evaluation Date.
Interest Rates and Annual Percentage Yields (APYs) are accurate as of 12/04/2022. First Performance Checking is a variable-rate account, and the interest rates for a Qualifying Account and a Non-Qualifying Account may change after the account is opened. $100 minimum balance to open. Fees may reduce earnings. Limit one First Performance Checking account per person.
Special Rules for New Accounts: When a new First Performance Checking account is opened, it has the status of a Qualifying Account, and effective on the account opening date, earns the premium interest rate as described above. The monthly maintenance fee is also not assessed for the first Qualification Period. During the second Qualification Period, and every Qualification Period thereafter, the account activity will be evaluated as described above to determine if a monthly maintenance fee will be assessed and if the account will retain the status of a Qualifying Account or change to the status of a Non-Qualifying Account throughout the next Qualification Period.