Online Checking Accounts Early Access to Your Paycheck, Free Bill Pay, Zelle® and the Perks of a Debit Mastercard
Discover our suite of personal checking accounts: QPlus, QBoost, and QClassic. Each comes with free bill pay, a Debit Mastercard, mobile deposits, overdraft protection services, access to 90,000 ATMs nationwide, and so much more! Choose the one that’s best for you!
The Best Online Checking Account is the One That's Good for You.
Looking for a no-frills, get er’ done checking account with no fees? Or how about an account that gives you a little somethin somethin back each month in addition to ATM reimbursement? At Quorum, we’re all about helping you simplify your daily, personal banking needs. That’s why we designed three checking accounts with your lifestyle and preferences in mind. So the best choice is the one that works best for YOU.
But first, here are all the things that come standard with all of our checking accounts:
- FREE Debit Mastercard®
- FREE Bill Pay service
- Surcharge-free ATMs (90,000+ nationwide)
- Priceless Mastercard® special offers
- Mobile deposits
- Overdraft protection services
QBoost Checking
Elevate your spending money by opening a high-yield checking account that earns interest on all balances, big or small. QBoost Checking offers:
- All standard checking account features
- The ability to earn interest on every dollar
- Up to $20 per month in ATM fee refunds1
- 2-day early direct deposit2
Account Requirements: Establish a monthly direct deposit totaling a minimum of $500 and use your Debit Mastercard for purchase transactions at least 10 times per month.
QClassic Checking
The everyday checking account with no strings attached. QClassic is an easy-to-manage checking solution, with no monthly fees and minimum balance requirements. It’s truly your classic checking account.
- All standard checking account features
- No monthly fees
- No minimum balance requirements
- 2-day early direct deposit2
QPlus Checking
The premium choice for those who want maximum benefits. This one-of-a-kind checking account allows you to access your paycheck five days early, earn high dividends, and charges zero fees (as long as you meet the account requirements):
- ALL standard checking account features
- 5-Day early access to direct deposits3
- Zero overdraft fees4
- Up to $200 in overdraft protection
- Unlimited ATM fee reimbursements1
- 1.25% APY5 on balances $10,000 and over
Account Requirements: Enrollment in eStatements and minimum monthly direct deposit(s) totaling $500. A $10 monthly fee applies when these requirements are not met.
Let’s Talk About Direct Deposit, Free Bill Pay, Electronic Transfers, and More.
Quorum checking accounts come fully loaded with our free digital banking services. In addition to accessing your account, Zelle® transfers and mobile deposits, here are some of the convenient things you can take advantage of:
Free Bill Payment Service
Early Direct Deposit!
Easy Ways to Send or Transfer Money
More Control Over Your Debit Card
Greater Peace of Mind with Overdraft Protection
More Savings Powered by LifeMart
Ready to Start? Here's How:
Apply.
Use our easy, online application to open an account with us.
Choose.
During the application process, you can choose to open any checking or savings product(s) you like.
Fund.
Once you’ve chosen the product(s) you wish to open, you’ll have the opportunity to fund your account(s) before submitting your application.
What is a Quorum membership?
In order to take advantage of Quorum’s products and services, you must be eligible to join Quorum. Quorum membership is free and part of our online application. Learn more about Quorum membership eligibility here.
What do I need to apply?
- You will be asked to provide a valid ID, your SSN, and banking information.
- You must be at least 18 to open an account with us online.
- On average, the application takes about 5 minutes to complete.
Log in.
Log in to your account via online banking.
Click.
Under Open, click on “Checking/Savings.”
Choose.
Select the product you wish to open, then follow the prompts to complete the application.
How much money do I need to deposit?
Minimum deposit requirements will vary depending on the type of account you open. You’ll find account requirements for each account as you go through our online application or in the individual product pages on our website.
Are there additional fees?
QClassic Checking is fee-free! QPlus and QBoost have zero fees as long as you meet the account requirements.
We’ve Got You Covered with Three Levels of Overdraft Protection
Nobody wants an overdraft fee or declined charges from an overdrawn account. Although the simplest way to avoid overdraft fees or rejected transactions is to keep a positive account balance and ensure that you have enough money in your account to cover your transactions, we understand that sometimes overdrawing on your account happens.
That is why we offer three types of overdraft protection, so we can help you avoid steep fees, rejected transactions, and other inconveniences that may arise from an overdrawn account.
Checking Reserve Line-of-Credit:
- Log in to online banking
- Select "Open" then “Checking Reserve Line-of-Credit”
- Select “Continue" then "Get a Checking Reserve"
This service is not available for QPlus Checking.
Automatic Transfer:
Courtesy Pay:
How does Courtesy Pay work?
When you charge your checking account for more money than you have available, Courtesy Pay allows us to honor your transaction for a fee of $37 per transaction so you can avoid the inconvenience of returned checks, rejected transactions, and costly fees. And while we cover the overdrawn transactions on your account, you can focus on keeping your account(s) current!
Courtesy Pay will only kick in after all applicable Overdraft Protection options you have available on your account (i.e. Checking Reserve Line-Of-Credit and/or Overdraft Transfers from Savings) have been utilized.
Exception: If you have a QPlus checking account, Courtesy Pay will only cover up to $200 in overdrafts. Once you’ve exhausted your $200 overdraft coverage, transactions that would overdraw your account are automatically declined. You will not be charged any overdraft or NSF fees.
What types of transactions does Courtesy Pay cover?
We will cover the following transactions:
- Checks and other transactions made using your checking account number
- Automatic bill payments
- Electronic transfers (ACH debits)
- Recurring debit transactions (e.g., gym membership)
You may also opt-in to extended coverage which allows us to cover the following transactions:
- ATM transactions
- Everyday debit card transactions
Courtesy Pay Considerations:
Overdrafts must be covered within 32 days. Payment of overdrafts are subject to the following dependencies:
- Individual and Account Limits
- Coverage level: Standard vs Extended
Other Helpful Resources:
Questions to Ask Before You Open or Switch Checking Accounts
11 Checking Account Features That You Should Be Using
The Benefits of Direct Deposit
Why Choose Quorum?
One of the Best Credit Unions of 2024
Bankrate
The Best Credit Unions
CNET
The Best HELOC Lenders
CNN Underscored
Best Checking Account for Vast Network
CNBC
Best Credit Union of 2024 for ATM Access
Associated Press
Best Credit Unions
Business Insider
Best Online Banks 2024
MarketWatch Guides
Best HELOC for Investors
Bankrate
Best Credit Union Savings Accounts
MarketWatch Guides
Best Overall Credit Union Savings Account
CNBC
2023 Diamond Award Financial Education
CUNA
Great rates and service.
Great rates and service. I recently opened a high-yield savings account with Quorum. The process was easy, online banking is comprehensive, and the rate and service were fantastic!
Great rate!
My family and I have several savings accounts as well as a first mortgage and just opened a savings account with a great rate over 4%. Easy online application. Fully digital experience allows us access whenever we need to 24/7. Nice people Five Stars!
Glad we found Quorum.
Quorum is great. We feel so much more secure with a federal credit union than a commercial bank. Great staff and customer service is always patient and helpful. Rates on interest-bearing accounts are great, too. Website is user-friendly. Info is clear and precise. Glad we found Quorum.
Member Reviews
CLOSEMember Service Team was really helpful in assisting me!
We are back from a cruise tour in the U.S. and Canada. During our vacation, my debit card was blocked (nearly a financial disaster). I called Quorum and got great help, first from Kevin B. After telling him my story, he transferred me to the Fraud Department. Unfortunately, they could not help, as I had one important piece of personal information that was not available. I called Quorum again and got Ebony. Ebony did a super job; she called the Fraud Department and convinced them I'm not a debit card fraudster. Thank you very much for your time and tremendous help, Ebony. Last, but not least, a thank you to Savannah. Coming back from Canada to the U.S., I emailed Quorum asking for support for another debit card alert and Savannah took care of that. Overall, the Member Service Team was really helpful in assisting me!
Klaus W
Easy to fill out application!
Straight to the point, easy to fill out application, and well put together!
Melissa F.
Professional and knowledgeable.
Professional, knowledgeable, sympathetic; a quick and enjoyable experience calling Quorum today!
James B.
Awesome experience.
Awesome experience working with Brianna and the team! Extremely helpful and went above and beyond.
Tysen C.
For security, I give them an A+.
I have been with this Credit Union for 12 or 13 years. For security, I give them an A+. Customer service is very helpful. Happy customer 😁
Rose E.
Absolutely great customer service.
Very helpful. Absolutely great customer service. Made my day.
Rehan H.
Best and most helpful in all my 15+ years with Quorum.
Today’s assistance was the best and most helpful in all my 15+ years with Quorum Federal Credit Union.
Carrie H.
Very friendly and extremely professional.
I just had a phone call to Quorum, talking to Bonnie. She helped me to activate my new debit card which I could not do myself from Germany. Bonnie was very friendly and extremely professional to get my request done. Now the card is activated for the next vacation in the US :-) Thank you very much, Bonnie.
Klaus W.
Very polite and professional.
The representative that I had the pleasure to talk with today took her time; she used safety measures to make sure I was who I said I was; very polite and professional.
Sheila L.E.
I’ve been a member for almost 30 years.
I’ve been a member for almost 30 years. I stay because the customer service professionals are excellent!
Ross W.
Very helpful and professional.
Very helpful and professional.
Ibrahim
Great customer service.
Great customer service.
Barbara R.
Excellent customer service.
Excellent customer service. Eddie was excellent.
Louis A.
Glad we found Quorum.
Quorum is great. We feel so much more secure with a federal credit union than a commercial bank. Great staff and customer service is always patient and helpful. Rates on interest-bearing accounts are great, too. Website is user-friendly. Info is clear and precise. Glad we found Quorum.
Kathy W.
I’ve been a member for over 35 years.
I've been a member of Quorum Federal Credit union for over 35 years. I highly recommend to anyone that would like low banking fees, a great banking experience and fantastic customer service.
Laurie D.
Excellent problem solvers.
I've been banking with Quorum for years. They're always very pleasant to interact with and they're excellent problem solvers. Thank you, Quorum. You're the best.
NYCBlkM4WhtM
Lifetime approval from me!
I have had checking and savings accounts for years with Quorum Federal Credit Union and have never had any problems. Therefore, when I needed a mortgage loan, I turned to Quorum. Their staff was a joy to work with. Very professional, informative and attentive to my every question, concern throughout the entire process. Quorum gets my lifetime customer approval from me.
Ruby S.
I conduct all of my banking transactions via the Mobile App.
I conduct all of my banking transactions via the mobile app. I like that I can deposit my checks, and view my account daily balances.
Marla E.
Our mortgage was a breeze!
Extremely professional team, our mortgage was a breeze with all the support from Mirella and Brandi. Highly recommended!
Erika V.
Very helpful and attentive.
I have been a member of Quorum for many years. They have always been helpful and very attentive. I highly recommend Quorum for financial business.
Herminia M.
Knowledgeable and friendly.
Bonnie was both knowledgeable and friendly. My issue was corrected immediately.
Catherine C.
A safe place to put your money.
This is a safe place to put your money. They have very proactive fraud prevention systems that I am impressed with. Recently, I moved a large amount of money that is going towards the purchase of a car and my account not only required a code, but I received a phone call within a half hour of my transaction from one of their professionals, Savannah. She politely quizzed me, and from every angle may I say, to establish that it was indeed me who was working within my account. The savings and CD rates are great also and, their website works like clockwork. Thank you, Quorum, for being the best!
LS B.
Refreshing.
I was amazed at the simplicity and speed at which things were handled today. Not something you see every day in business anymore. So refreshing.
Livin Curiously
Tremendously patient and helpful.
Quorum customer service was tremendously patient and helpful today. I'd phoned with two problems, which were successfully addressed with a combination of patience and professionalism.
Richard B.
Love everything about them.
Have been a member for 15 years and love everything about them: have a HighQ account, QClassic checking and a mortgage with them, too.
Sharon C.
Go with a credit union-and this is a good one.
Really nice group here; they actually work with you, much like a community bank. They are also fast and efficient.If you are tired of being gouged by the Big and Ugly banks, you should go with a credit union--and this is a good one.
Heidi K.
Have been a faithful and delighted customer.
I joined Quorum in 1998 and have been a faithful, and delighted customer since. Any issue I have experienced has always been handled with respect, knowledge and follow-through. Can't give them enough high praise. Today I was contacted by Quorum so they could personally update me on a specific change in their policy that may affect me. What other company takes the time and consideration to do that? I don't know of any other. Adisa was the Quorum representative who contacted me. Her approachability and the fact that she consistently asked if I was comfortable in giving answers to the requests for information from me made me feel safe and comfortable. Any business who employs someone of Adisa's caliber is worthy of all my banking business! Thank you, Quorum... you guys really are The Best!
Kathy C
Always friendly and courteous.
Always friendly and courteous. Great job by the Quorum team. Great to do business with them.
Bill J.
Highly recommend.
Amazing experience with this company for the past two years. I highly recommend.
Jorgefelix S.
Great rate!
My family and I have several savings accounts as well as a first mortgage and just opened a savings account with a great rate over 4%. Easy online application. Fully digital experience allows us access whenever we need to 24/7. Nice people Five Stars!
DCG021022
This Credit Union quickly became my bank!
This credit union quickly became my bank! What started with a low-interest first mortgage refinance has turned into a first mortgage, two credit cards, a high yield savings account, fee free checking account and a checking reserve account. I pay all my bills via the online bill payment and even send physical checks from my online checking account to the landscaper and others. Member support is beyond expectation and the mobile app is robust and user friendly. Great work Quorum!
mhudson
Very good service and rates.
Very good service and rates.
Stan L.
Great rates.
I've been a member of Quorum for many years. They almost always have great deposit rates and the app is super easy too!
Tbe
Mobile deposits went perfectly.
I was very apprehensive about doing a mobile deposit. I'm still a fan of brick and mortar but that's no longer an option. I spoke to a wonderful woman named Shelley who was just amazing with patience. She informed me of a few banking options. Everything went perfectly as she walked me through the process that I chose.
B Renee B.
Very easy to navigate across the board.
Very easy to navigate across the board, making banking from home a no-effort issue.
7 reasons to smile
I was THRILLED to be able to do mobile deposits.
Since I need to use mail to deposit checks, I was THRILLED to be able to do mobile deposits. This app works better for deposits than either of the other two bank apps I use.
Kim N.
Friendly, helpful and knowledgeable representatives.
New customer. Friendly, helpful and knowledgeable representatives. They answered ALL my questions and stayed on the phone with me through the entire setup and deposit process. I hope the exceptional customer service continues. Based on my experience, so far, I would definitely recommend.
Cynthia M.
Excellence, patience and care.
Shelly's service was of excellence and she walked me through the entire claims process with ease and calmness. I greatly appreciate her customer service skills of excellence, patience and care. Thank you.
Janice J.
OUTSTANDING!
Shelly was nothing short of OUTSTANDING! Big thank you to her and her follow through.
Bob S.
Personable staff who are motivated to bring solutions.
Brand new customer. So far so good. They were able to answer all questions promptly and accurately. Will see how follow-through goes but no complaints, which is a good thing! Personable staff who are motivated to bring solutions.
Vicki P
CD and high-yield savings rates are excellent.
CD and high-yield savings rates are excellent. Decent service for an online only bank.
Celtics
Extremely helpful and knowledgeable.
The Quorum representative was extremely helpful and knowledgeable. I appreciate all she did to resolve my situation.
Carl W.
I so appreciate their time and hard work.
I want to thank Adisa, Debra, Eddie and Ellie for the excellent customer service that they gave me during the past week and a half. It made a difficult experience easier to deal with. The patience, understanding and kindness that they showed me was outstanding. They should be commended on doing their job with such expertise and professionalism. I so appreciate their time and hard work.
Mary F.
They do NOT disappoint.
Quorum has been my primary bank for over 5 years where they do NOT disappoint. Not only do they offer the best interest rates with the HighQ Savings and term CDs, they are prompt to provide answers to any questions that you may have regarding transactions with a detailed explanation of both benefits and minimum balances as well as other options to avoid fees. I encourage others to use these benefits and services offered.
Sonja M.
Friendly, knowledgeable, efficient.
Service member was friendly, knowledgeable, efficient and solved my problem quickly.
Marianne M.
Love my Credit Union.
Great experience today! We even got disconnected and she called me back after my issue was solved! Love my Credit Union.
Allison W.
Excellent customer service.
Excellent customer service. Very kind, courteous, pleasant and patient!
Vince D.
Quorum is the BOMB!
Quorum Federal Credit Union is the BOMB! Best customer service, helpful & assists with any concerns. I've banked at conventional "brick mortar" banks for 50 years. The extra benefits, better rates and customer service are by far SUPERIOR to any bank anywhere. Look them up, compare as I did then sign up. They are truly the real deal.
Gary H.
Just a wonderful credit union.
Just a wonderful credit union. Very knowledgeable people with kindness and professionalism. I’m an older gentleman, you can always call and speak with a human voice, it doesn’t have to be done on the computer. It’s a wonderful organization. If you’re looking for a credit union that offers great CD rates, great customer service, and most of all is very professional, I would recommend them to anyone that is looking for those qualities and some of the highest CD rates in the country. Quorum Federal Credit Union is all five star - first class, in my opinion.
Kin F.
Great experience being a member.
Quorum is a great credit union. The staff are always so helpful, friendly, and very patient. Great experience being a member.
Carla F.
Polite, professional, helpful.
Polite, professional, helpful. What customer service should be.
Penny W.
Great rates and service.
Great rates and service. I recently opened a high-yield savings account with Quorum. The process was easy, online banking is comprehensive, and the rate and service were fantastic!
panslif12
Join an online community geared towards helping your financial well-being through top-tier financial tools, competitive rates, and award-winning customer resources. Become a member today and find out why Quorum is consistently selected as one of the top credit unions in the country.
Frequently Asked Questions
How does a checking account differ from a personal savings account?
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.
I’m interested in opening a checking/savings account with Quorum. Do they perform a hard/soft pull credit inquiry when reviewing the application?
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.
What is Quorum's ABA Routing and Transit Number?
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:
Do you offer Direct Deposit?
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.
Make the Switch through Your Employer.
Use our ABA Routing & Transit Number 221981335 and your Quorum checking or savings account information. Use the following account number formats to ensure the funds are deposited/withdrawn appropriately:
For savings accounts: Provide your account number (your member number) and suffix without dashes. For example, your account number is 123456 and your savings account suffix is 0000, you would use 1234560000. You can view your suffix(es) in online banking. The suffix is the four-digit number listed after the dash in the number under each account name.
For checking accounts: Provide the 14-digit account number located on the bottom of your Quorum checks. You can also find this within online banking or the mobile app, by navigating to your checking account, then selecting Account Details.
What is Quorum's Early Direct Deposit?
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.
How does Direct Deposit work?
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.
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.
- Select “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.
I switched checking accounts types. Will my current ATM card or MICR account number change?
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.
Are my funds insured with Quorum?
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.
A Few Things You Should Know
1. ATM Fee Reimbursements: ATM fees incurred will be reimbursed and will be automatically deposited into your account on the 2nd business day of the following month.
2. Early Direct Deposit: 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.
3. 5-Day Early Access to Direct Deposits: This feature is only available for Quorum members with a QPlus checking account. In order to establish access to this feature, two direct deposits with an aggregate total of at least $500.00 coming from the same funding source and enrollment in eStatements must be established within 90 days of account opening. It may take two cycles for the early access to direct deposits to take effect. Early Access funds will be credited to your account up to five days prior to the date scheduled by the payor and are subject to change at any time. Quorum does not guarantee that any direct deposits will be made available before the date scheduled by the payor, and early availability of funds may vary between direct deposits from the same payor. Quorum shall have no liability for payments returned as a result of insufficient funds, overdrafts or any other payment failure due to reliance on Early Access funds. Early availability of your direct deposit is not guaranteed and may vary from deposit to deposit. There is a maximum of two direct deposits that will be eligible for Early Access and a maximum of $10,000 per direct deposit will be advanced. In the event an account has more than two different direct deposits, Quorum reserves the right to determine which two are eligible for Early Access. Funds availability depends on meeting the requirements mentioned above and is subject to any additional limitations set on early availability of funds, including, but not limited to standard fraud prevention screening. The criteria we use for making funds available early are determined in our sole discretion, based on confidential criteria necessary for maintaining the security of your account and our payment services and are subject to change without notice. Not all direct deposits are eligible for 5-Day Early Access to Direct Deposits. 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 Access. Interest on your incoming direct deposit will begin accruing on the business day we receive credit for the deposit from your payor’s bank. Early Access advance amount will be debited from your account once the direct deposit has posted. Beginning two (2) business days after the deposit date scheduled by the payor, you are responsible for any negative balance that results from the usage of Early Access funds and the subsequent debit in accordance with our Truth in Savings Agreement. Quorum reserves the right to revoke Early Access to funds for any reason and at any time.
4. Overdraft Protection: You will not be charged with any overdraft of non-sufficient funds fees on this account. QPlus Checking comes with two levels of overdraft protection at no cost to you: automatic overdraft transfers and Courtesy Pay. The automatic overdraft transfers feature authorizes Quorum to transfer funds from any of your eligible existing Quorum savings/checking accounts to your QPlus checking account to cover transactions that cause your account to go negative. Courtesy Pay allows us to consider paying your checks, ACH and recurring debit transactions that overdraft your account up to $200.
5. Annual Percentage Yield (APY) is in effect as of 04/01/24 and subject to change. The current rate is 1.24%. APY and rate may change after account is opened. You must maintain a minimum monthly balance of $10,000 in order to earn this APY and rate. Balances under $10,000 will earn the Basic Savings APY and rate. Please refer to our rate sheet for current APY and rates.