Most Valuable Savings
Earns 0.50% APY* on entire balance when monthly qualifications are met
Earns 0.05% APY* on balance if monthly qualifications are not met
- No monthly service fee
- No minimum balance to earn rewards or maintain account
- Linked to Most Valuable Checking account of your choice
- ATM fee refunds nationwide*** (up to $50 per monthly qualifications cycle)
- Earnings from ATM fee refunds are automatically deposited in Most Valuable Savings
- Free online banking
- Free e-Statements
- $50 minimum deposit to open
- FDIC insured
- Be enrolled & receive e-statement notice
- Have at least 10 debit card purchases post and settle to the Most Valuable Checking Account of your choice per monthly qualification cycle
- Have at least one direct deposit or automatic debit (ACH) transaction post and settle to the Most Valuable Checking Account of your choice each monthly qualification cycle
Even if you don't qualify during a given cycle, you can try again next cycle to earn rewards.
Rates may change after account is opened. Fees may reduce earnings. Not available as a stand-alone product, must be opened in conjunction with a Most Valuable Checking account.
*Annual Percentage Yield (APY) accurate as of 3/31/2015. Minimum to open Most Valuable Checking account is $50 and $50 for Most Valuable Savings.
Most Valuable Savings rate tiers are as follows: Qualified Rate of 0.50% APY on entire balance if qualifications are met during monthly qualification cycle on Most Valuable Checking. Base Rate of 0.05% APY applies to all balances if monthly qualifications are not met on Most Valuable Checking. When the Most Valuable Checking with Interest monthly qualifications** are met, the qualifying interest rate on your Most Valuable Checking with Interest account and corresponding interest will be tiered. If your collected daily balance is $10,000 or less, the qualifying interest rate paid on the entire balance will be 1.24% with an APY of 1.25%. A qualified interest rate of 0.35% will be paid only for that portion of your collected daily balance that is greater than $10,000.00. The APY for this tier will range from 0.43% to 1.25%, depending on the balance in the account. 0.05% APY applies to all balances if monthly qualifications are not met. The interest earned in Most Valuable Checking is automatically transferred to Most Valuable Savings each monthly statement cycle and does not compound. The actual interest paid for Most Valuable Checking with Interest account may be less than the advertised APY. Most Valuable Savings APYs may be less than Most Valuable Checking with Interest account APYs.
Qualifying transactions MUST post to and settle to the Most Valuable Checking account during the Monthly Qualification Cycle. Transactions may take one or more banking days from the date the transaction was made to post to and settle to an account from the date the transaction is made. ATM-processed transactions, transfers between accounts and debit-card transactions processed by merchants and received by MVB Bank as ATM transactions do not count toward earning account rewards.
Limit one account per Tax ID number. May be reported on IRS Form 1099.
**Monthly Qualification Cycle means a period beginning one banking day prior to the first day of the current statement cycle through one banking day prior to the close of the current Statement Cycle.
*** If you have met your qualifications during the Monthly Qualification Cycle in your Most Valuable Checking account, we will reimburse you for domestic ATM fees incurred on your Most Valuable Checking account during the Monthly Qualification Cycle by our institution and other U.S. Financial Institutions up to $50.00 per each Monthly Qualification Cycle in which you qualified. Monthly ATM fee reimbursements will be credited to your Most Valuable Checking account on the last day of the Monthly Statement Cycle. If the monthly qualifications are not met, no ATM surcharge fees will be reimbursed for that monthly qualification cycle.
ATM fees of $4.99 or less will be reimbursed up to a maximum of $4.99 per individual transaction. ATM fees of $5.00 and higher will be reimbursed if the appropriate ATM receipt is presented to a representative at one of our branches. If you believe that you have not been reimbursed the correct amount, please contact us. We must hear from you no later than 30 days after the Statement Cycle where the reimbursement was applicable in order to received a refund. Note: ATM withdrawals do not count as qualifying transactions for purposes of earning rewards within this account.
Most Valuable Checking-with Cash Back customers: ATM fee reimbursements will be credited to your Most Valuable Savings account automatically on the last banking day of the statement cycle.
Most Valuable Checking-with Interest customers: ATM fee reimbursements will be credited to your Most Valuable Checking account on the last day of your monthly statement cycle and then transferred to your Most Valuable Savings account on the next banking day.