It is a $2 minimum to open the account. You may then choose between a $2, $5, $10, or $20 payment option.
Payments should be made weekly using the coupon. Each account has 50 payment coupons. The 49th payment must be made by October 15th.
The final payment (Bonus) will be paid to the account upon check issuance. Payments may be set up on automatic transfer from an account with this bank.
You will earn a Bonus which will be one (1) payment equal to the payment account you selected.
This account does not earn interest and will not have an Annual Percentage Yield (APY).
A minimum of 49 weekly payments are required to earn the Bonus payment. “Catch-up” payments must be made no less than monthly in order to earn the Bonus.
If you close the account prior to October 15th you will NOT earn the Bonus.
New accounts may be opened from November 1 to March 31 of each year. You will receive a check for the balance plus Bonus no later than November 1st of each year. Except for accounts set up on automatic transfer the account is considered “closed” at this time.
If payments are made by automatic transfer, transfers will continue to be made until canceled by you.