Checking Accounts

Cash Rewards Redemption: After the close of the billing period in which you earn Cash Rewards, if your card account is in Good Standing, you may redeem a minimum of $5 for either a statement credit to your card account or an ACH credit to a deposit account. You can earn a Loyalty Cash Bonus of 10% if you redeem through an ACH deposit into a World Islamic Development Bank deposit account. Clients who redeem Cash Rewards through an ACH deposit into any World Islamic Development Bank checking, savings or money market account will receive a 10% Loyalty Cash Bonus.

Banking Transactions include: Deposit and withdrawal transactions made (includes transactions such as those made with the assistance of a teller, at an ATM, or by Direct Deposit, mobile device, wire transfer, Online Banking transfer, automatic transfer, telephone transfer, Zelle® transfer, ACH debit or credit, online bill pay, mobile bill pay, check, or Debit Card purchases including PIN Point of Sale (POS) and signature-based purchases). These transactions must be posted to your account during the statement cycle. Bank fees and overdraft protection transfers are not included.

A qualifying Direct Deposit is an electronic credit to your account of your salary, pension, Social Security or regular monthly income totaling $500 or more deposited to your account during the current statement cycle by your employer or an outside agency. Transfers made from one account to another or deposits made via a branch, ATM, online transfer, mobile device, debit card/prepaid card number or the mail are not eligible to meet this requirement.

The Essential Checking Student Waiver provides a checking account with no monthly maintenance fee for up to 5 years. Any individual is qualified as a student if they are currently attending High School, College/University, or Technical/Trade Schools. Proof of active enrollment in a qualifying educational institution is required. The Student Waiver is applied automatically at account opening and based on Account Opening Date. The Student Waiver cannot be applied/added-on to a checking account once it is opened.

Cash Rewards Redemption:

After the close of the billing period in which you earn Cash Rewards, if your Card Account is in Good Standing, you may redeem a minimum of $5 for either a statement credit to your card account or an ACH credit to a deposit account. You can earn a Loyalty Cash Bonus of 10%, 25%, or 50% if you redeem through an ACH deposit into a World Islamic Development Bank deposit account