Earning a higher-than-average interest rate on your money is really simple. Just swipe, deposit, and start earning!
- Make 15 or more debit card purchases.* For example...
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- + Set up and receive a single Direct Deposit of $250 or more.*
- = Earn up to 4.59% APY*.
That's it.
It's that simple. Plus, you'll have access to your money with the Allpoint® Network and over 55,000 surcharge-free ATMs.
So ask yourself again, what does your checking account pay?
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 debit card purchase. Account to Account transfers utilizing mobile wallet or an incoming Zelle transfer that uses the debit card do not count as a debit card purchase.
No, there is a limit of one per person as the primary owner.
To allow time to set up your Direct Deposit, activate a debit card, and begin making debit card purchases, we will waive all account transaction requirements for the first Qualification Period. During this time, there will be no monthly maintenance fee, and you will enjoy a premium interest rate on account balances up to $25,000 through the second Evaluation Date. For full details, please review our Checking Brochure and the First Performance Checking Account Guide.
*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/Statement Date which is on the 5th of each month. On the Analysis/Statement Date, interest is credited to the account, a monthly maintenance fee may be assessed, and the account statement is generated. 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 4.50% will be paid on the portion of the account balance up to $25,000.00 (the APY for this tier will be 4.59%); and the portion of the account balance that is $25,000.01 or more will be paid a lower interest rate of 0.10% (the APY for this tier will range from 4.59% 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 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 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/Statement Date following the Evaluation Date. When the qualifications of 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/Statement Date following the Evaluation Date.
Interest Rates and Annual Percentage Yields (APYs) are accurate as of 03/26/2023. 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. The interest rate of 4.50% paid on the portion of the account balance up to $25,000 is over 70 times the “national rate” as defined on fdic.gov/resources/bankers/national-rates as the average of rates paid by all insured depository institutions and credit unions for which data is available, with rates weighted by each institution’s share of domestic deposits; as of February 21, 2023, the interest checking account national rate was .06% and was based on the $2,500 product tier.
Special Rules for New First Performance Checking Accounts: A new account has the status of a Qualifying Account and earns the premium interest rate (as described above) through the second Evaluation Date after the account’s effective opening date as determined by our system. For a new account, the first Qualification Period starts on the business day after the effective opening date of the account, and it may not be a full period. The monthly maintenance fee is not assessed for the first Qualification Period. On the account’s second Evaluation Date, the posted account activity in the second Qualification Period 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 a Non-Qualifying Account throughout the next Qualification Period. If the account changes to the status of a Non-Qualifying Account, the interest rate will change on the business day after the second Evaluation Date. The account will continue to be evaluated on each monthly Evaluation Date. See the First Performance Checking Account Guide for more information and exact dates of all Qualification Periods, Evaluation Dates, Analysis/Statement Dates, and Dates When Interest Rates May Change.