If you’ve had a Velocity account, you still have your same account, even though we are not allowing any new members into the account.
You are now part of an exclusive club. You are “grandfathered” in to the old account.
We’ve got a new account. It’s called Cartwheel. It’s just like the old account, only the cap is lowered to $10,000.
As market rates continue to drop, we must be smart in the way we price our deposit products. A lower cap allows us to keep the rate high, but still be prudent on pricing.
So… we’ve got two Rewards Checking accounts. Those of you signed up for Velocity will notice no difference. Those of you who have not yet signed up for Cartwheel – it really is a great account. You should consider it.
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