Vault Checking

Vault Checking - Built to Protect and Grow Your Money

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Vault Checking Benefits

3.00% APY¹

Earn more money as you maximize your balances up to $10,000 with Cedar Rapids Bank & Trust's premium rate. Simply meet all of the below requirements:

  • 10 Visa® debit card transactions per month totaling a minimum of $100 (excludes ATM transactions)
  • Set up one monthly direct deposit or debit with $250 minimum
  • Enroll in Personal Online Banking
  • Download mobile banking app featuring bill pay, person-to-person payment and mobile deposit
  • Receive eStatements²

Powerful Built-In Security

Enjoy peace of mind as you protect your hard-earned money with Cedar Rapids Bank & Trust's powerful multi-layer account security - regardless of which device you're on!

  • Fingerprint login available for mobile banking app
  • Verification Code Texts for log ins from unfamiliar PC
  • Chip-enabled Visa® debit card
  • 24/7 Debit card fraud alerts
  • Receive ID Theft Personal Risk Score to determine if you are at low, medium or high risk of ID theft.
  • Fraud monitoring services - first 6 months FREE!4
  • Fraud recovery services with dedicated fraud specialist
  • Free ID Protection Roller Stamp
  • COMING SOON! Debit card turn on/off controls and a financial aggregation & budgeting tool

$300 Bonus³

Don't miss our limited-time, new account bonus extended through November 3, 2018.

Frequently Asked Questions

Q:  What are the requirements to earn 3.00% APY1 on my Vault Checking account?
A:  The account requirements are as follows:

  • 10 Visa® debit card transactions each month totaling a minimum of $100 (excludes ATM transactions)
  • Set up one monthly direct deposit or debit with $250 minimum
  • Enroll in Personal Online Banking
  • Download mobile banking app
  • Receive eStatements²

Q:  Is this account FDIC insured?
A:  Yes, this account is FDIC insured up to $250,000.

Q:  What happens if I don’t meet the requirements for Vault Checking?
A:  If you have not met the requirements of the account, the interest rate and APY paid on the balance in your account will be 0.01%.

Q:  Can I “carry forward” check card transactions in excess of the 10 required Visa® Check Card transactions?
A:   No, requirements must be met within each statement period.

Q:  How can I convert my current CRBT checking account to a Vault Checking account?
A:  Contact any CRBT Account Executive at 319.862.2728 or visit any of our locations. They will assist you to make sure you have the correct account to best meet your needs.
 
Q:  Will I be able to use my existing Visa® Check Card from CRBT if I convert my account to Vault Checking?
A:  Yes, you will be able to use your existing Visa® Check Card.  Also, your account number, checks, online banking, automatic withdrawals and direct deposits will be carried over to your Vault Checking account.

Q:  Will the ACH transactions that were attached to my old CRBT account automatically transfer over to my new Vault Checking account?
A:  Yes, you will not have to re-initiate these transactions.

Q:  Do I receive 3.00% APY1 on my total balance?
A:  You receive 3.00% APY1 on balances of $10,000 or less.

Q:  Will transactions from the statement cycle on my old CRBT account be allowed as required transactions for my new Vault Checking for this statement period?
A:  No, you will not be allowed to carry over transactions as required transactions for the existing statement cycle.

Q:  Will the prior history from my transferred CRBT account be viewable on online banking?
A:  Yes, this information will transfer over to your Vault Checking account.

Q:  Will my statement cycle/period change?
A:  Possibly. Your Vault Checking statement period will start on the first day of the month and end on the last business day of the month. All Visa check card transactions (excludes ATM transactions) that occur during the statement cycle will count towards the required transactions.

Q:   Is there a minimum balance requirement?
A:  No, there is no minimum balance requirement. However, there is a $100 minimum balance requirement to open your account.

Q:   If I qualify, when will I receive my interest?
A:  You will receive your interest at the end of each statement cycle, which is the last business day of each month.

Q:  Do I receive 3.00% APY1 on my total balance?
A: You can receive 3.00% APY1 on balances of $10,000 or less as long as you have met the account requirements.

Q:  What about balances over $10,000.01?
A:  An interest rate of .10% will be paid only for that portion of your daily balance that is greater than $10,000.01. The APY range for this tier will be 3.00% to 0.22%. Regardless of your balance, if you do not meet the requirements listed, the interest rate and APY will be 0.01%.

Q:  Can the interest rate change on my Vault Checking account?
A:  Yes, this is a variable rate account and the rate may change at any time at our discretion.

Q:  How is my interest calculated?
A:  Interest is compounded monthly and will be credited to the account monthly. We use the average daily balance method to calculate the interest.  This method applies a daily periodic rate to the average daily balance in the account for the statement cycle.

Q:  If I use my Visa® Check Card at an ATM and enter my PIN, will that transaction count toward my 10 required transactions?
A:  No, ATM transactions do not count toward this total.

Q:  How do I know whether to select “credit” or “debit” at a merchant?
A:  CRBT prefers that you run your transactions as credit-based. To do so, please inform the merchant that you would like to use the “credit” function of your card and have them process as a “credit” transaction.

Q:  What if I use my check card at a merchant and they ask me to input my PIN #?
A:  Inform the merchant that you would prefer to use the “credit” function of your card and have them process it as a “credit” transaction.

Q:  What if I’m at a merchant and they do not ask me to sign or enter a PIN #?
A:  Some merchants have made the decision to not require a PIN or a signature for small dollar items. In this case, this transaction will count towards your 10 transactions per month.  

Q:  If I use another bank’s ATM and pay a fee, will I receive a refund?
A:  No. However, you have access to a network of surcharge-free ATMs through CRBT’s affiliation with the Shazam Privileged Status Network. The network includes approximately 1,000 ATMs nationwide and over 100 in the greater Cedar Rapids area. Just look for ATMs that display the Privileged Status logo or visit https://www.shazam.net/atms/.

 

¹ Annual Percentage Yield. Rate may change after the account is opened. APY accurate as of July 23, 2018, and is not an introductory rate. Opening deposit requirement of $100. APY is for balances up to $10,000. An interest rate of 2.96% will be paid only for that portion of your daily balance that is $10,000 or less. The APY for this tier will be 3.00%. An interest rate of .10% will be paid only for that portion of your daily balance that is greater than $10,000.01. The APY range for this tier will be 3.00% to 0.22%. Regardless of your balance, if you do not meet the requirements listed, the interest rate and APY will be 0.01%. Limit of one Vault or MAXX acct per TIN.
² Valid email address required. A $5 monthly statement fee will be assessed on all accounts that choose to receive a monthly paper statement and may reduce earnings.
³ $300 bonus will be credited to client’s new Vault Checking in the month after all account requirements are met. Requirements must be met within the first six months. Client must be a new checking account client. $300 bonus will be reported as miscellaneous income to IRS on 1099-MISC. Offer ends 11/3/2018.
4 A monthly fee of $9.75/individual or $16.75 for joint account applies. New ID theft clients are eligible to receive first six months of service free with a 12 month contract. Annual contract will auto-renew unless client provides 30 days written notice to The Bank. If client terminates service prior to fulfilling 12 month contract, account will still be auto-deducted for remainder of 12 month term.