Add Momentum! To Your Money.
Our automatic MoneyLink!Sweep feature will link your SharePlus checking account to a Money Market Plus! Together it's called Momentum!Reserve and it's FREE.
Just decide how much money you want to keep in your checking account to cover your day-to-day expenses, then set that balance as the MoneyLink!Sweep "trigger point". Overnight, any available, extra money above that balance will be automatically transferred into the high-yielding Money Market Plus!
How Momentum!Reserve works:
- Determine how much money you want to keep in any SharePlus checking account to meet your daily needs. A SharePlus banker can help you review previous bank statements to choose an appropriate balance.
- This dollar amount is the MoneyLink!Sweep "trigger point" (minimum trigger point level in checking account is $5,000).
- After the MoneyLink!Sweep trigger point is set up, any available funds ABOVE that balance will be automatically "swept" into your Money Market account. Just set the trigger point and forget it. MoneyLink!Sweep does it automatically overnight.
- When you sign up for Momentum!Reserve, your Money Market account will provide Overdraft Protection for your linked checking account, with up to six overdraft transfers allowed per month by law. (See other limitations below)*
- You can adjust your trigger point at any time to meet changes in your daily financial obligations. Just give the bank your instructions in writing (or fax instructions to 972-931-6401) and we'll adjust the trigger point balance.
"Real-life" Momentum!Reserve Example
Click here to see how Momentum!Reserve and MoneyLink!Sweep can work for you.
What about Overdraft Protection?
If you accidentally write a check without sufficient funds in your checking account, the necessary funds will be automatically transferred back from the Money Market account into the checking account to cover the overdraft. (See other limitations below)*
Emergency Fund Calculator
Have you set aside three to six months' living expenses? Click here to access an Emergency Fund Calculator see how much you need to set aside.
Insurance
All bank deposits are currently insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor. Learn how a family of four can structure its accounts to achieve insurance levels up to $3 million. VIEW VIDEO for more information.
You can calculate your insurance coverage using the FDIC's Electronic Deposit Insurance Estimator at www.myfdicinsurance.gov. For questions about FDIC coverage, call toll-free 1-877-ASK-FDIC or contact Customer Service at (972-931-5311 or 1 800-35BUCKS or 1-800-352-8257.
SharePlus is participating in the FDIC’s Transaction Account Guarantee Program. Under that program, through December 31,2010, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules.
Beginning December 31, 2010 through December 31, 2012, deposits held in noninterest-bearing transaction accounts will be fully insured, regardless of the amount in the account, at all FDIC-insured institutions.
*transfers and withdrawals by preauthorized, automatic telephone, wire or computer transfer are limited to six per statement cycle including check, draft, or debit card. A REG D Excess Transaction Fee of $30 will be charged for each pre-authorized withdrawal, check, draft or debit card withdrawal in excess of six per statement cycle. Unlimited withdrawals in person from your branch. Customers will be allowed three months of REG D Excess Transactions within a twelve month period. Further violation will result in the closing of the account.
