MY PRIZE CHECKING FAQs
Is there a fee for My Prize Checking if I don’t meet all the activity requirements?
No, there is no fee for My Prize Checking. If you don’t meet all the activity requirements in a month, you won’t be paid dividends that month. You will be eligible to earn dividends again the following month.
Is there a dollar minimum for debit card transactions to qualify for rewards?
No, there is no dollar minimum for debit card transactions. Make at least 15 debit card purchases of any dollar amount to qualify to earn dividends. Debit card transactions processed by merchants and received by The Credit Union as Point of Sale (POS) transactions are included. Note that ATM transactions and debit card transactions processed by merchants and received by The Credit Union as ATM transactions are not included.
How will I know if I will receive my dividends each month?
You can track your progress toward earning dividends with the My Prize Rewards Tracker in Digital Banking. Just log in to digital banking to see exactly where you are on your way to earning dividends each month. The tracker shows your debit card transactions, direct deposit amounts, and enrollment in eStatements.
I already have a Marine Credit Union checking account. How can I switch to My Prize Checking?
You have three options to switch your existing checking account to My Prize Checking:
- Send a secure message in digital banking requesting to change your checking account type,
- Call the contact center and request to change your checking account type, or
- Visit a branch and a member service representative can help you make the switch.
The changes to your account will occur within 24-48 hours.
Can I open a My Prize Checking account online?
Yes, you can open an account with Marine Credit Union online. Online account opening is quick and easy with just 3 simple steps:
- Choose the My Prize checking account. There are no hoops to jump through.
- Tell us a little about yourself. We’ll ask some questions about who you are and where you live. You’ll also have the option to add someone to your account.
- Fund your account. You can make your first deposit using a debit card, credit card, or a transfer from another bank account.
How much money do you have to have to open a checking account?
Opening a checking account with Marine Credit Union is easy. You must live in our service area and have a minimum balance of $5.
When will I receive my debit card?
You must fund your account before you receive your debit card. After you make your first deposit to fund your checking account, you may need to wait 7-10 days for your new debit card to arrive. You can activate your debit card and begin using it as soon as you receive it.
How does My Payday work?
My Payday is a feature that allows you to get paid up to two days before your official pay date.
To take advantage of My Payday, you must be enrolled in direct deposit from your employer. When we receive notice from your employer that your paycheck is on the way, we reduce the processing time to release your money as early as possible. You can turn the My Payday feature on and off as you need it, like when unexpected expenses pop up.
The timing of the availability of your funds depends on when we receive notice from your employer and is not guaranteed. Reasons you may not receive your deposit early include: your direct deposit was set up too recently, your deposit type is not eligible (such as bank-to-bank transfer), or there is a payroll issue with your employer.
Your account must be open for 30 days to use My Payday. After 30 days, you will be automatically enrolled in My Payday.
How does My Grace Zone work?
My Grace Zone is a feature of My Prize and My Relationship Checking that gives you a $50 buffer in case you spend a little more than you have in your account. We know accidents happen and sometimes you forget that you wrote a check or a charge goes through earlier than expected. If you qualify for My Prize or My Relationship Checking, MCU will cover an overdraft of up to $50 without charging a fee.
To take advantage of My Grace Zone, you must be opted into overdraft privilege for ATM and everyday debit card transactions.
To opt in, log into the Mobile App or Digital Banking, go to Account Services (choose More first on the Mobile App), and then Overdraft for Card.