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1. 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, address, date of birth, and your 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 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.

2. The optional Savings Account linked to your PORTE deposit account is made available to Accountholders through MetaBank, 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 $35,000.00 or less, the interest rate paid on the entire balance will be 2.97% with an annual percentage yield (APY) of 3.00%.

•  If the Average Daily Balance is more than $35,000.00, the interest rate paid on the portion of the Average Daily Balance which exceeds $35,000.00 will be 0.49% with an APY of 0.50%, and the interest paid on the portion of the Average Daily Balance which is $35,000.00 or less will be 2.97%. The APY for this tier will range from 3.00% to 0.50%, depending on the balance in the account.

The interest rates and APYs of each tier may change. The APYs were accurate as of 12/1/2019. No minimum balance to open Savings Account or obtain the yield(s). However, you must receive direct deposit(s) totaling at least $1,000 within one (1) calendar month to be eligible to open a Savings Account. Savings Account funds are withdrawn through the Porte Account (maximum 6 such transfers per calendar month) and transaction fees could reduce the interest earned on the Savings Account. Funds on deposit are FDIC insured through MetaBank. For purposes of FDIC coverage, all funds held on deposit by you at MetaBank will be aggregated up to the coverage limit, currently $250,000.00.

3. Charity

4. Porte Perks

5. Faster funding claim is based on a comparison of our policy of making funds available upon receipt of payment instruction versus the typical banking practice of posting funds at settlement. Fraud prevention restrictions may delay availability of funds with or without notice.  Early availability of funds requires payor’s support of direct deposit and is subject to the timing of payor’s payment instruction.

 

PORTE is a deposit account established by MetaBank®, Member FDIC. Certain products and services may be licensed under U.S. Patent Nos. 6,000,608 and 6,189,787.

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