Deposit Account opening subject to registration and ID verification. 2
As a Flare Account® accountholder, you’ll have the opportunity to earn 0.01% Annual Percentage Yield (APY) on the funds in your Flare Account.1 This means that not only can you earn interest with an optional high yield savings account of up to 6.00% APY,3 but you can also earn with your Flare Account as well.
Every little bit helps on your savings journey!
The interest rate on your Account is variable and we may change the rate on your Account at any time. The current interest rate on your Account is 0.01% with an Annual Percentage Yield (APY) of 0.01%. APY was accurate as of 5/15/2024. No minimum balance is required to open and maintain a Flare Account® or to obtain the disclosed APY. Transaction fees could reduce the interest earned on the Account. The Flare Account is established by Pathward®, National Association, Member FDIC. Funds on deposit are FDIC insured through Pathward, National Association. For purposes of FDIC coverage, all funds held on deposit by you at Pathward, National Association, will be aggregated up to the coverage limit, currently $250,000.00.
IMPORTANT INFORMATION FOR OPENING A NEW DEPOSIT ACCOUNT: To help the federal government fight the funding of terrorism and money laundering activities, the USA PATRIOT Act requires us to obtain, verify, and record information that identifies each person who opens an Account. WHAT THIS MEANS FOR YOU: When you open an Account, we will ask for your name, street address, date of birth, and government ID number. We may also ask to see a copy of your driver’s license or other documents at any time. All Accounts are opened subject to our ability to verify your identity by requiring acceptable types of identification. We may validate the information you provide to us to ensure we have a reasonable belief of your identity. If we are not able to verify your identity to our satisfaction, we will not open your Account or we may close the Account if it was previously funded. Your Account is subject to fraud prevention restrictions at any time, with or without notice.
The optional Savings Account linked to your Flare Account is made available to Accountholders through Pathward, N.A., Member FDIC. To open a Savings Account, consent to receive communications from us in electronic form is required. Interest is calculated on the Average Daily Balance(s) of the Savings Account and is paid quarterly.
If the Average Daily Balance is $2,000.00 or less, the interest rate paid on the entire balance will be 5.87% with an annual percentage yield (APY) of 6.00%.
If the Average Daily Balance is more than $2,000.00, the interest rate paid on the portion of the Average Daily Balance which exceeds $2,000.00 will be 0.49% with an APY of 0.50%, and the interest paid on the portion of the Average Daily Balance which is $2,000.00 or less will be 5.87%. The APY for this tier will range from 6.00% to 0.60%, depending on the balance in the account.
The interest rates and APYs of each tier may change. The APYs were accurate as of 08/15/2024. No minimum balance to open Savings Account or obtain the yield(s). However, you must receive direct deposit(s) totaling at least $500 within one (1) calendar month to be eligible to open a Savings Account. Savings Account funds are withdrawn through the Flare Account and transaction fees could reduce the interest earned on the Savings Account. Funds on deposit are FDIC insured through Pathward, N.A. For purposes of FDIC coverage, all funds held on deposit by you at Pathward, N.A., will be aggregated up to the coverage limit, currently $250,000.00.
Card can be used everywhere Visa® debit cards are accepted.
The Flare Account® is a demand deposit account established by Pathward®, National Association, Member FDIC, and the Flare Account Debit Card is issued by Pathward, N.A., pursuant to a license from Visa U.S.A. Inc. Ouro Global, Inc. is a service provider to Pathward, N.A.
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