Kasasa Cash Back® Checking

Disclosure

This disclosure contains the rules that govern your Kasasa Cash Back^® deposit account as of May 15, 2020.

Kasasa Cash Back® Account Overview:

A free, variable rate checking account with no minimum balance that rewards account holders with cash back on their PIN-based or signature-based debit card purchases and nationwide ATM withdrawal fee refunds when they meet minimum qualifications during the account's Monthly Qualification Cycles.

Iowa State Bank's Expectations

Purpose & Expected Use of Account:

The Kasasa Cash Back® account is intended to be the account holder's primary checking account in which payroll transactions and day-to-day spending activities, including but not limited to grocery, gasoline, apparel, shopping, dining, sporting, and entertainment transactions are posted and settled.

Commensurate with the spending activities identified above, we expect the account's debit card to be used frequently throughout each month and for transaction amounts to reflect a wide dollar range. Small debit card transactions conducted on the same day at a single merchant and/or multiple transactions made during a condensed time period, particularly near the end of a Monthly Qualification Cycle, are not considered normal, day-to-day spending behavior. These types of transactions appear to be conducted with the sole purpose of qualifying for the account's rewards and thus will be deemed inappropriate transactions and will not count toward earning the account's rewards.

Iowa State Bank & Trust Company of Fairfield, Iowa (hereafter referred to as Iowa State Bank) reserves the right to determine if the account is being maintained for a purpose other than day-to-day, primary use. Account holders who persist in making debit card transactions in a calculated and limited fashion in order to meet their monthly qualifications may have their accounts converted to a different checking account or closed altogether. We also reserve the right to convert the account to a different checking account if the account does not have consistent active use over six (6) consecutive Statement Cycles.

We have the right to close this account at any time, with proper notice. Our decision to close the account will not affect your existing obligations to us, including any obligation to pay fees or charges incurred prior to termination. No deposits will be accepted and no checks will be paid after the account is closed. If the account is closed, you will forfeit any rewards that have not been credited to your account. An Iowa State Bank check for the remaining balance, if applicable, will be mailed to the account holder at the address indicated on our current records. Upon termination of your Kasasa Cash Back® account, any optional add-on products/services associated with this account will also be terminated at the same time.

Account Qualifications

Qualification Information:

To earn your rewards just do the following transactions and activities in your Kasasa Cash Back® account during each Monthly Qualification Cycle:

• Have at least 1 direct deposit / ACH transaction post and settle
• Have at least 12 PIN-based or signature-based debit card purchases
• Have online banking with e-statements enabled

Transactions and activities may take one (1) or more Business Days from the date the transaction or activity occurred to post and settle to the account. The following activities do not count toward earning account rewards: ATM-processed transactions; transfers between accounts; debit card purchases processed by merchants and received by our bank as ATM transactions; non-retail payment transactions; and purchases made with debit cards not issued by our bank. Transactions bundled together by merchants and received by our institution as a single transaction count as a single transaction for the purpose of earning account rewards.

"Monthly Qualification Cycle" means a period beginning one (1) Business Day prior to the first day of the current Statement Cycle through one (1) Business Day prior to the close of the current Statement Cycle.

"Statement Cycle" means the period of time for which Iowa State Bank provides a summary of the financial activities and transactions that post and settle to the account holder's account. Click here to review the Statement Cycle Dates.

Account Rewards Information

If qualifications are met during the monthly qualification cycle:

Cash Back:

1) When Kasasa Cash Back® qualifications are met during a Monthly Qualification Cycle, you will receive 3.00% cash back on up to a total of $300 PIN-based and signature-based debit card purchases that post and settle to the account during that cycle period. A maximum of $9.00 cash back payments may be earned per Monthly Qualification Cycle.

ATM Fee Refunds:

2) You will receive reimbursements up to an aggregate total of $25 (max. $5.00 per single transaction) for nationwide ATM withdrawal fees imposed by other financial institutions within your Kasasa Cash Back® account and incurred during the Monthly Qualification Cycle in which you qualified. We reimburse ATM withdrawal fees based on estimates when the withdrawal information we receive does not identify the ATM withdrawal fee. If you have not received an appropriate reimbursement, we will adjust the reimbursement amount if we receive the transaction receipt within sixty (60) calendar days of the withdrawal transaction.

If qualifications are not met during the monthly qualification cycle: No cash back payments are made and ATM withdrawal fees are not refunded.

Rates and rewards are variable and may change at our discretion after account is opened, without notice to you. Fees may reduce earnings.

Reward Distribution: Interest and ATM fee reimbursements will be credited to the account on the last day of the current Statement Cycle. No minimum balance is required to earn or to receive the account's rewards. Rewards less than a penny cannot be distributed.

Additional Information

Deposits: $100 minimum deposit is required to open the account.

Conditions of the Account: E-statement is a condition of having this account. This account is not to be used for commercial purposes. There is a limit of one (1) account per social security number. Enrollment in electronic services (e.g., online banking and electronic statements) are required to meet some of this account's qualifications.

Fees: There are no fees to open or close this account. There are no recurring monthly service charges associated with this account. See accompanying schedule of Limits and Fees Disclosure for fees that may apply to this account.

Questions: Contact an Iowa State Bank service representative for additional information, details, and enrollment instructions at 641-472-3161.

Deposit Insurance: Member FDIC.  FDIC-Insured – Backed by the full faith and credit of the U.S. Government.

Trademarks & Credit Lines: Kasasa Cash® is a trademark of Kasasa®, Ltd., registered in the U.S.A.