When you graduate from Elevate to a traditional checking account, there are several key differences you’ll want to keep in mind. Here’s a summary.
Graduation: What Will Change
Elevate and Select Checking Comparison
| Features | Elevate Checking | Full Service Select Checking |
|---|---|---|
| ATM withdrawals | $500 daily limit | $1,000 daily limit |
| Debit card changes | $500 PIN, $15,000 signature daily limit | $1,500 PIN, $15,000 signature daily limit |
| ACH payments | $500 daily limit initiated by you; $1,000 initiated by a financial institution | $2,000 limit initiated by you; $5,000 limit initiated by a financial institution |
| Check deposits via ATM check | <$250 available immediately, >$250 available after 2 days | <$2,000 available immediately |
| Courtesy pay | $10 monthly for optional coverage; no per occurrence fees | $25 fee per occurrence; no monthly fee |
| Automatic overdraft transfers from savings | None | $3 per occurrence |
| Non-sufficient funds (NFS) | None | $25 per occurrence |
| Courtesy pay covered transactions | No coverage available for ATM or one-time debit card transactions | Optional expanded coverage for ATM and one-time debit card transactions; subject to same $25 fee per occurrence |
| Courtesy pay coverage allowance | Provides up to $100 in coverage | Provides up to $500 in coverage with direct deposit or $300 without |
| Account Type | ATM withdrawals | Debit card changes | ACH payments | Check deposits via ATM check | Courtesy pay | Automatic overdraft transfers from savings | Non-sufficient funds (NFS) | Courtesy pay covered transactions | Courtesy pay coverage allowance |
|---|---|---|---|---|---|---|---|---|---|
| Elevate Checking | $500 daily limit | $500 PIN, $15,000 signature daily limit | $500 daily limit initiated by you; $1,000 initiated by a financial institution | <$250 available immediately, >$250 available after 2 days | $10 monthly for optional coverage; no per occurrence fees | None | None | No coverage available for ATM or one-time debit card transactions | Provides up to $100 in coverage |
| Full Service Select Checking | $1,000 daily limit | $1,500 PIN, $15,000 signature daily limit | $2,000 limit initiated by you; $5,000 limit initiated by a financial institution | <$2,000 available immediately | $25 fee per occurrence; no monthly fee | $3 per occurrence | $25 per occurrence | Optional expanded coverage for ATM and one-time debit card transactions; subject to same $25 fee per occurrence | Provides up to $500 in coverage with direct deposit or $300 without |
The limits listed for Select Checking in the top half of this table are applicable to Full Service and not unique to the product. There are members in Full Service – Monitored and Limited Service – Checking levels that have Select Checking and their limits are different than what is shown here.