Online Checking Accounts Early Access to Your Paycheck, Free Bill Pay, Zelle® and the Perks of a Debit Mastercard

Checking accounts allow you to access your money to shop, pay bills or withdraw cash from locations across the globe. They are well-suited to pay for your daily or recurring expenses. A regular savings account, on the other hand, offers the added benefit of earning higher dividends, or a compounded return on the funds you deposit over time. These dividends compound at intervals set by the financial institution, but usually occurs either annually, quarterly, monthly, or daily. (Quorum compounds dividends monthly.)

Savings accounts are, by design, not suited to pay for daily purchases. If your monthly budgeting and bill payment plan requires multiple transfers each month from a savings account, or you believe you may routinely exceed six transfers per month, consider a checking account, or setting up multiple savings accounts.

A hard pull or soft pull can occur when you open a new checking or savings accounts from an online banking, credit union, or financial institution. A hard pull (which typically happens when a lender checks your credit report to make a lending decision; for instance, when applying for a mortgage) can (temporarily) slightly lower your credit score, and will typically stay on your credit report for two years. A soft pull, on the other hand, is an inquiry performed by a financial institution on your credit report, but does not affect your credit score in any way.

When Quorum reviews a checking or savings account application, we may perform a soft pull on an applicant’s credit report through one of the three major credit reporting agencies (TransUnion, Experian, Equifax) for verification purposes, and also run the name through ChexSystems to see if there is a report in their system. Neither of these actions will impact an applicant’s credit score in any way.

Quorum’s ABA Routing and Transit Number is 221981335.

A routing number is a 9-digit code used to identify financial institutions in electronic transactions. You can always find our routing number in the lower left-hand corner of your checks:

Yes! When your electronic deposits—including paychecks and social security payments—are deposited directly into your Quorum checking account, you get immediate access to your money. Your funds are available as soon as they’re deposited.

Whether this is the first time you’re setting up direct deposit or simply want to switch it to Quorum, we make it easy for our members with ClickSWITCH. It takes about two minutes to initiate a switch in online banking. Simply log in to online banking and from the Dashboard, click on “More,” then “ClickSWITCH.” ClickSWITCH will initiate the change with your employer and notify you once the switch is complete.

Refer to How do I set up direct deposit? to get started.

Quorum’s Early Direct Deposit* transfers your paycheck from your employer into your checking or savings account a few days before your actual payday (typically, between 2 -5 days earlier). To take advantage of Early Direct Deposit, you must have direct deposit set up to your Quorum checking or savings account. Once it’s set up, there’s nothing else you need to do: you’ll start seeing deposits earlier than expected!

*Early availability is not guaranteed and may vary from deposit to deposit. Funds availability depends on when we receive the payor’s payment instructions, any limitations we set on the amount of early availability, and standard fraud prevention screening. Eligible deposits are electronic deposits made through the Automated Clearing House (ACH) to your personal account including but not limited to items such as your payroll, pension, and government benefit payments. Other deposits or credits to your account, such as deposits of funds from person-to-person payment services (e.g., Zelle®, Venmo, or PayPal transfers), check or mobile deposits, and other online transfers or electronic credits are not eligible for early availability.

Direct deposit is an automated process commonly used for paychecks, which allows employers to transfer money electronically into your checking or savings account, with no need for a physical or paper check.

Direct Deposit works through an electronic network called the Automated Clearing House (ACH). The ACH network is managed by the National Automated Clearing House Association, a nonprofit association known as NACHA. It administrates the movement of money through the ACH network for all U.S. banks and credit unions.

If you have opened a QChoice checking account and checks were requested at the time of opening, your free checks and your Mastercard debit card will arrive in five to seven business days.

To order free checks, all you need is our Routing Number (221981335) and your 14-digit MICR account number. This can be found at the bottom of one of your existing checks, or in online banking: from the Dashboard, click on “Accounts” and then select the “Account Details” tab.

If you have moved from another Quorum checking account to a QChoice account, your existing Mastercard debit card and 14-digit MICR account number will remain the same. You can continue to use your current checks or order free checks here.

To receive free checks, please note that you will need to order the specific style for the QChoice Checking; this style is called Sky Blue Alliance.

Can I switch checking accounts?
Yes, it’s easy to switch checking accounts. Follow the steps below to get started:

• Log in to online/mobile banking.
• Click on “More” from the Dashboard, and then “Account Services.”
• Under “More Services,” click “Checking Account Change Request.”
• Complete the form, and then click “Submit.”

Please note, if you are trying to switch to a new QPlus Checking and you have an existing Overdraft Line-of-Credit (Checking Reserve) linked to the checking account you are attempting to switch from, you must close your Overdraft Line-of-Credit (Checking Reserve) and pay off any remaining balance on that account prior to switching to QPlus Checking.

If you switch checking account types, your ATM card and MICR number will not change.

If you request a new checking account suffix, the MICR will change. This may also affect the checking account linked to your ATM Card.

If you need to confirm the checking account linked to your card, please either send us a secure message by logging in to online banking and clicking on “More” from the main menu, then “Message Center,” or contact us at (800) 874-5544, Monday through Friday, 8:30 a.m. to 7:00 p.m. ET.

Your Quorum accounts are insured up to $250,000 per person by the National Credit Union Share Insurance Fund (NCUSIF). Individual Retirement Accounts (IRA) are insured separately up to $250,000. The National Credit Union Administration (NCUA), a federal agency, administers the insurance fund and regulates federally insured credit unions. The fund is backed by the full faith and credit of the U.S. Government.

Depending on how your accounts are owned and what types of accounts you have, you can potentially increase the total insurance on your funds to greater than $250,000.

The Share Insurance Estimator, found here, can help you determine whether your accounts are established and insured appropriately. If you have already utilized the Share Insurance Estimator and still have additional questions, you can also reach out to the NCUA Consumer Assistance Center at (800) 755-1030. Representatives are available from Monday through Friday from 8 a.m. – 5 p.m. ET. You can also send an email with your questions to dcamail@ncua.gov.