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When you choose a First Class Checking Account from Wings Financial, you earn dividends on all balances, and you'll have access to your account at 55,000 surcharge-free ATMs across the country. Call 1 800 692-2274 for information on opening your First Class Checking Account.
First Class Checking features:
- Loan Discounts - Cut the APR on your loan by 1/2% on most consumer loans (this discount is already calculated into the rates on our rate sheet)*
- No minimum balance to earn dividends (paid monthly)
- No monthly maintenance fees or per-check charges
- Unlimited monthly withdrawals (by check, ATM* or debit transaction)
First Class Checking Convenience:
*Requires an active checking account and direct deposit of your paycheck
**Note: 10 free ATM withdrawals per month at ATMs not owned by Wings Financial. $1.00 for each transaction for the remainder of the month.
***Approval required. ATM card may be substituted if denied.
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Check 21 - When,What & Why
On October 28, 2004, federal legislation, known as "Check 21," became law. The new law changed the way checks are presented and paid against checking accounts. The purpose of the Act is to improve the efficiency of the nation's check payment systems. This means you, the consumer, will benefit from better and faster financial services.
How Will It Work?
The Check 21 Act makes legal a Substitute Check, which is a digital picture of your original check that can be processed electronically. This method of check payment is faster and decreases the paper work involved with transporting the millions of checks Americans write each year.
How Check 21 Affects You
You may notice that some checks clear faster.
Please Note: You are advised to have sufficient funds on deposit before writing checks. Depositing funds after writing a check can result in overdrafts, embarrassing returns and related fees.
Substitute checks contain all the information of the original check, and in accordance with the Check 21 law, they are the legal equivalent of the original. They can be used for proof of payment, or any other reason that might require an original check. All financial institutions must accept them as if they were the original check.
How You Benefit
- Checks clear faster
- Check fraud is reduced
- Check information is more secure
- You have a right to an investigation by your credit union if an error occurs.
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