FDIC-Insured – Backed by the full faith and credit of the U.S. GovernmentRetail Account Changes
Our entire line of checking accounts will be changing on March 15, 2024.
Please refer to the personalized cover letter, mailed to you in February, to see which new account(s) your current account(s) will be moved to. If you want to choose a different account type than what was mailed to you, please review your options below and contact us to finalize your changes.
Avidia Checking Accounts
| Avidia Free Checking | Avidia Premier Checking | Avidia Premier Plus Checking | |
|---|---|---|---|
| Opening Deposit | $10.00 minimum opening deposit. | $25.00 minimum opening deposit. | $500.00 minimum opening deposit. |
| Monthly Fee | No minimum balance or monthly maintenance fee. | Must maintain a minimum average daily balance of $2,500 or greater to avoid the $8 monthly maintenance fee. | Must maintain a combined minimum average daily balance of $25,000 or greater in consumer checking, savings and/or money market accounts to avoid the $25 monthly maintenance fee. |
| Interest | Non-interest bearing. | Non-interest bearing. | Interest-bearing. |
| Free ATMs | Free ATM transactions at all SUM & All Point network ATMs. | Free ATM transactions at all SUM & All Point network ATMs. | Free ATM transactions at all SUM & All Point network ATMs. |
| ATM | No non-Avidia or non-network ATM transaction fee reimbursement. | Up to $10 monthly reimbursement of non-Avidia or non-network ATM transaction fees. | Unlimited monthly reimbursements of non-Avidia or non-network ATM transaction fees. |
| Checks | Free first order of checks. | Free first order of checks. | Unlimited free standard checks. |
| Benefits | Additional Benefits: Free online & mobile banking with bill pay. Free online or paper statements. | Additional Benefits: Free online & mobile banking with bill pay. Free online or paper statements. | Additional Benefits: Free online & mobile banking with bill pay. Free online or paper statements. Free cashier’s checks and complimentary safe deposit box rental of 3x5 inches, or smaller, where available. |
Savings & Money Market Accounts
Our savings and money market accounts will remain the same with a few minor changes:
Money market accounts will be moving to a non-blended tiered rate instead of a blended tiered rate. Savings accounts will be moving to a non-tiered, single rate account instead of a blended tiered rate.
The names for the following accounts have been changed, but the features remain the same:
• Smart Savings = Avidia Free Savings. • Personal Money Market = Avidia Premier Money Market. • Max Money Market = Avidia Premier Plus Money Market.
FAQs
Please refer to the letter you should have received in February or March for the effective date that applies to your account(s). The changes to the deposit accounts will be effective by March 29, 2024 and will not affect business accounts should you have any with Avidia Bank.
No. You’ll continue to have uninterrupted access to your money in branches, at ATMs, or with online and mobile banking. Only your account name will change.
No. You will continue to use the same account number(s) assigned.
No. You can continue to use your current supply of checks, since your account number isn’t changing.
If your new account is listed as either Avidia Free Checking or Avidia Premier Checking, you can continue to use the same debit card.
If your account is listed as Avidia Premier Plus Checking, you can continue to use your current debit card until you receive your new debit card. When you receive your new card, please activate it and discontinue using your old card, which will no longer be active as of 6/1/2024.
After you receive and activate your new Premier Plus debit card, be sure to change all automatic payments that use your old debit card number to your new debit card number.
Rewards points expire three years after the date you earned them. We recommend visiting your points account through Internet Banking and redeeming your points by the effective date of the account change.
Visit www.sum-atm.com and/or www.allpointnetwork.com to locate free ATM near you. You can also download the free Allpoint app to locate ATMs within their network.
Early Access to Direct Deposit Funds depends upon the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which COULD be up to 2 days earlier than the scheduled payment date. No enrollment necessary.
To simplify the interest calculation method, we are changing from blended to tiered rate. As of March 1, 2024 – you will earn interest on the entire balance of your account corresponding with the balance of the account. Please refer to the disclosures mailed with the account change letter for additional information.
You can change your account type in any of the following four ways:
• Stop by any branch location
• Call customer support at 800-508-2265
• Visit www.avidiabank.com:
– Choose the “Support” menu option.
– Select “Deposit Support”
– On our deposit support page, please use the drop down to select “Account Type Change”
-Scroll up on this webpage and select “Submit your request.”
No. There will be a three-month grace period (3/1/24-6/1/24) when you won’t be charged maintenance fees if your balances with us change in that time frame and you no longer qualify for that account’s benefits.