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Posts Tagged ‘Checking’

What is Only One Checking?

Tuesday, June 3rd, 2014

76754637Quite simply, it’s the only account you’ll ever need.

Only One Checking is the checking account offered at First Source. It is aptly titled as such, as we offer just one account and you use it however you like best. Depending on how you use it, you get rewarded as well. Other financial institutions will offer promos like getting $100 for opening an account. If you look at the fine print, you usually have to sign up for direct deposit in order to get that money. Others offer no fees, but you often have to sign up for e-statements and auto bill pay, etc. Or they offer a few different accounts but each have stipulations to qualify for and the choices can be confusing, even overwhelming depending on how many they offer.

We know that your checking account should just be there for you, ready when you need it. You shouldn’t have to think about it. That’s why we’ve stripped it down and made it simple.

Only One Checking at its basic level has no stipulations. If you’d like a plain old checking account, this is for you. However, if you’d like to get a little more out of it, you can be rewarded as you go. For example, if you have a higher monthly balance, your account can earn tiered dividends. If you are a frequent debit card user, you can access travel perks, online coupons and monthly rebates.

The account is set up to be your main hub. Money comes in (via direct payroll deposit if you choose), and then money goes out as you need and as you’d prefer. You can write paper checks, or sign up for auto bill pay. And with our One Card debt card, powered by VISA® you can swipe it like a credit card but manage the funds through your Only One account. You have access to over 28,000 nationwide surcharge-free ATMs and our mobile app.

It truly is everything you need, all in one place.

Checking Made Easy: Member Testimonial

Monday, June 2nd, 2014
Kathy_Pezzulo

Kathleen Pezzulo
Member

If you’re like us, you’d love to simplify your life. We have just the solution: our Only One Checking account. It’s, well, the only one we offer, since it’s the only one you’ll ever need. It grows with you. With all the conveniences of checking, and none of the worries about which account works best for you, you’ll have more time to dream! See what Member Kathleen Pezzulo has to say about the account:

Only One Checking makes it easy to manage my money. Whether I’m home, at work or on the go, it’s a convenient way to access my account. I rely on Only One Checking to check my balances, see what checks have cleared, and to make fund transfers. The free debit card gives me peace of mind knowing I can easily make purchases wherever I go. Only One Checking makes my life so much easier.”

Simplify your life today. Click below to get started.
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Actual Balance versus Available Balance

Tuesday, February 4th, 2014

76754637Ever catch yourself overdrawing your account and you could have sworn that money was in there? Here’s what may have happened. If you made a check deposit after 2:00 p.m. at many financial institutions that money is actually not available until the next business day. If it’s a Friday, you’re not seeing it until Monday! This means if you had $40 in your account and deposited $100 (after 2:00 p.m.), your actual balance is $140, but your available balance is still only $40. If you go grocery shopping that night and spend $75, you’ve just overdrawn your account.

If you’re depositing a check for a large amount, or from an unfamiliar business, there may be a hold placed on the check. On average this can be from 3 – 5 days. While it may seem unfair at first, this is actually done to protect you. You would not want to go spending that money and have the check not clear. Then you would be on the hook to pay overdraft fees on the money you spent that never actually made it into your account. The good news is we will notify you if a check is being held so you should be aware that those funds are not yet available.

With First Source, here are some instances that this will not happen. 1. If you deposit cash versus a check. Cash will always be available immediately, including Saturdays. 2. If you deposit a payroll check. These funds are always available immediately.

What about an ATM deposit? No matter how much you deposit through an ATM, (check or cash) only $200 is available immediately per day. The full amount is available after 2 days. So if you deposit $500 on Wednesday, you’re actual balance is $500. But your available balance is only $200 on Wednesday and Thursday. Your available balance will jump up to $500 on Friday.

Sometimes the actual date a transaction happened can vary from the date when the place you’ve spent the money pulls those funds. You may go to dinner on a Saturday night and spend $50. That $50 may not actually be withdrawn from your account until Tuesday. It’s up to you to know that you’ve already spent it. The best thing you can do is keep your register current and check your balance frequently online.

Only One Checking

Tuesday, June 4th, 2013








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