Mad Money | Frequently Asked Questions
4.25% APY* interest rate
Electronic Statements
Free ATMS anywhere
*APY means Annual Percentage Yield. Rate is accurate as of June 1, 2009. Rate subject to change after account opening. Minimum opening deposit is $50. If one or more requirements are not met, customer earns 0.05% APY on the entire balance for the month. Monthly statement cycle requirements to earn 4.25% APY are as follows: receive eStatements, use your VISA® Debit Card a minimum of 10 times (non-ATM transactions) and have at least one direct deposit or automatic draft completed by a third party. 4.25% APY is good for balances up to $25,000. An interest rate of 0.05% will be paid for that portion of your daily balance that is greater than $25,000. The annual percentage yield for accounts with balances greater than $25,000 will range from 4.25% to 0.84%, depending on the balance in the account. (This blended rate was calculated assuming a daily balance of $100,000). Interest rates may vary. Mad Money product is for personal accounts only.
Have 10 (non-ATM) debit card transactions per statement cycle
Receive estatements
1 direct deposit or Automatic draft** per statement cycle
**Automatic draft must be completed by a third party. BillPay transactions are excluded.
The maximum amount we'll pay the high interest on is $25,000. You must meet all 3 requirements each month to receive the high interest rate. On balances over $25,000, you will receive 0.05% APY
Per statement cycle
If you don't meet the monthly requirements you will receive an interest rate of 0.05% APY for that month.
Yes, NCBT reserves the right to change rates
It is based on the balance of your account each day.
At the end of each month
Yes, NCBT will mail you a 1099 at the end of the year
As long as your account is in the negative, you will not receive interest for those days. However, once your account is back in the positive you will begin to receive interest again.
If you open a new Mad Money Checking account the requirements for the high interest rate are waived for your first statement cycle. However, if you are changing from an existing NCBT checking account to a Mad Money checking account, then you must meet all requirements for that month.
No, only non-ATM debit card transactions count.
No. You must meet the requirements each month; transactions do not carry over to the next month.
No, you are only required to sign up for estatements. However, NCBT strongly encourages everyone to view their statement each month for any inconsistencies.
Yes, you can access your account with any computer and a valid e-mail address.
No, this is a personal account only.