PerkStreet Partners

Is PerkStreet a bank?

While PerkStreet offers and services a range of banking products, we are not a chartered bank. Instead, we partner with FDIC-insured banks to hold the deposits in PerkStreet checking and savings accounts. This allows us to focus on developing great products and providing awesome customer service while your money is insured up to the full legal limit of $250,000.

Who are PerkStreet's issuing bank partners?

Currently, we work with two issuing banks, The Bancorp Bank and Provident Bank.

The Bancorp Bank is headquartered in Wilmington, DE and is a publicly traded company (NASDAQ: TBBK) with over $3 billion in assets. The Bancorp Bank is a member of the Federal Deposit Insurance Corporation (FDIC).

Provident Bank is headquartered in Montebello, NY and is a publicly traded company (NYSE: PBNY) with over $3 billion in assets. Provident Bank is also a member of the Federal Deposit Insurance Corporation (FDIC).

How do I know which issuing bank holds my deposits?

The best way to know which bank holds your deposits is to check the bottom of your monthly account statement. In general, if you applied for a PerkStreet deposit account on or after 3/6/2013, your deposits are held at Provident Bank. If you applied before this date, your deposits are held at The Bancorp Bank. Feel free to give us a call if you have questions.

Bank accounts for PerkStreet customers whose debit card number begins with 5507 are held at Provident Bank, New York, member FDIC. Banking services for other PerkStreet customers may be provided by another bank; see our Partners page for more details.

Your earn rate is as follows:

1% unlimited cash back for all non-PIN debit card purchases*
2% cash back on online purchases at: Amazon.com^®, iTunes^®, Target.com, Apple.com, Walmart.com and Bestbuy.com.* Online purchase bonus perks limited to $2,500 in spend every calendar year.
2% cash back in-store, when you have a Current Account Balance of $5,000 or more at: Walmart, Target^®, Best Buy^® & Apple^® stores.* Offline purchase bonus perks limited to $2,500 in spend every calendar year.
2% unlimited cash back when you and a friend use your cards together at the same restaurant, bar or coffee shop.* Transactions must occur within 60 minutes of each other to qualify.
Up to 25% cash back, and sometimes more, on PowerPerks deals which are special in-store and/or online deals that are sent to your inbox every week.

To determine your starting Current Account Balance, we use your closing balance after all settled transactions from the previous business day. Pending purchases and transactions are not included.

^aAnnual Percentage Yield (APY) is accurate as of 5/19/2013. These rates may change at any time without prior notice.

*To redeem a perk as a statement credit requires 2 perks per each $20 redemption, thereby reducing your effective cash back rate. In addition, statement credits are redeemed in $20 increments. For example, a $20 statement credit will require $22 in perks. A $40 statement credit requires $44 in perks, etc. All other reward redemption options require no additional perks.

This offer and the calculation of perks are subject to the terms of the PerkStreet Rewards Program Agreement. We may modify or cancel this offer at any time.

^†The average American can earn over $500 a year in cash back with the PerkStreet Debit Card. According to the U.S. Bureau of Labor Statistics, the average American spends $601 per week on purchases that could be put on a debit card. $601 in weekly non-PIN purchases can earn $712 in perks annually, including 1% cash back on purchases, up to $25 in the 2% online shopping bonus, up to $25 in 2% offline shopping bonus, and $349 in PowerPerks bonuses (at one PowerPerk redemption per week at the average deal amount of $6.72).

$1,000 in perks is based on actual PerkStreet customers' total perks earned in 2011 at a 1% cash back rate.

The MasterCard Zero Liability policy covers U.S.-issued cards only and does not apply to ATM transactions, PIN transactions not processed by MasterCard, or certain commercial card transactions. Cardholder must notify issuer promptly of any unauthorized use. Consult issuer for additional details or visit www.mastercard.us/zero-liability.html. Conditions and exceptions apply - See Cardholder Agreement.

The merchants represented are not sponsors of PerkStreet perks, or otherwise affiliated with PerkStreet Financial, Inc. The logos and other identifying marks are trademarks of and owned by each represented company and/or its affiliates. Used under license. Please visit each company's website for additional terms and conditions of use.

The Bullseye Design, Target and Target GiftCards are registered trademarks of Target Brands, Inc. Terms and Conditions are applied to gift cards. Target is not a participating sponsor of this offer.

Amazon.com Gift Cards ("GCs") sold by SVM, an authorized and independent reseller of Amazon.com Gift Cards. Except as required by law, GCs cannot be transferred for value or redeemed for cash. GCs may be used only for purchases of eligible goods on Amazon.com or certain of its affiliated websites. For complete terms and conditions, see www.amazon.com/gc-legal. GCs are issued by ACI Gift Cards, Inc., a Washington corporation. ©,®,™ Amazon.com Inc. and/or its affiliates, 2013. No expiration date or service fees.

The PerkStreet Financial^SM Debit MasterCard^® is issued by Provident Bank pursuant to license from MasterCard International Incorporated. MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.

©2013 PerkStreet Financial, Inc. All rights reserved.