Important changes are taking place that affect the SmarterBank Program. Effective December 4, 2013, the SmarterBank® checking account will be converted to a One Point Checking Account with The Bancorp.
This decision was made in mutual agreement between SmarterBucks and our banking partner, The Bancorp, who has powered our SmarterBank checking account since its launch.
Below is important information to guide you through this transition. Please read it carefully.
- No action is needed on your part, your funds remain secure. Your checking account will be converted automatically to The Bancorp One Point Checking Account effective December 4, 2013.
- Your account number and routing number will remain the same. Your pre-established bill pays or funds transfers will continue to be processed as normal. You can access your account at www.thebancorpbank.com.
- You can continue to make purchases using your SmarterBank® Visa Debit card and checks; however, after December 4, 2013 you will no longer earn SmarterBucks rewards for those purchases.
- Please familiarize yourself with the terms and conditions of the One Point Checking account. The new disclosures and new schedule of fees that will apply to your account can be found here. These changes will take effect December 4, 2013.
- SmarterBucks will no longer accept new SmarterBank applications.
Still not sure what this change means for you and your existing SmarterBucks and SmarterBank accounts? Read on for more information.
I am a SmarterBucks member, but do not have a SmarterBank account. What does this change mean to me?
As a SmarterBucks member, you will still have access to the SmarterBucks Marketplace, SmarterBucks Surveys, monthly giveaways, SmarterBucks Exclusives and gifting of rewards. You will no longer be able to open a SmarterBank checking account or invite contributors to make cash contributions to your rewards account.
What will happen to my SmarterBank checking account and SmarterBank Visa debit card between now and December 4, 2013?
Nothing. You will have access to your SmarterBank checking account with the same login that you have used since opening the account. All purchases that you make on your SmarterBank Visa Debit card between now and 11:59 p.m. December 3, 2013 will earn SmarterBucks rewards as usual: 0.5% back in rewards on the first $100 of signature-spend purchases, and 1% on any amount over $100. All pending and earned banking rewards accumulated before December 4, 2013 will be honored.
What will happen to my SmarterBank checking account and SmarterBank Visa debit card on December 4, 2013?
Effective December 4, 2013 the following changes will go into effect:
- Your SmarterBank checking account will be converted automatically to a One Point Checking account with The Bancorp. The login url for your SmarterBank account will be redirected to https://thebancorp.mybankingservices.com/.
- Your checking account will be subject to the features and fee structures associated with The Bancorp One Point Checking account, which can be found here.
- You may to continue to use your SmarterBank Visa debit card and checks to make purchases, but your transactions will no longer earn SmarterBucks rewards.
How do I login to my new One Point Checking account with The Bancorp, starting December 4?
On December 4, 2013, your current SmarterBank login url will be redirected to The Bancorp’s One Point Checking account login. You will also be able to access your account directly from www.thebancorpbank.com.
Can I still take advantage of other ways to earn rewards, such as the SmarterBucks Marketplace and SmarterBucks Surveys?
Yes! SmarterBucks offers a number of different ways to earn rewards, including the SmarterBucks Marketplace, SmarterBucks Surveys, monthly giveaways, SmarterBucks Exclusives and gifting of rewards. We encourage you to take advantage of as many of these different rewards features as possible. After December 4, 2013, all links to SmarterBank will be removed within your SmarterBucks dashboard.
Can I still use my card?
Yes. When your SmarterBank Visa Debit card expires or needs to be reissued, you will receive a new debit card from The Bancorp.
Can I still use my checks?
Yes. Your account number will remain the same so you can continue to use the checkbook you already have.
Will my old statements still be available in online banking?
Yes. Old statements will still be available through online banking as they are now.
I want to close my account. How do I do that?
Before closing your account, you need to ensure that any pending transactions--including scheduled payments in bill pay, recurring automated transfers, or transactions that have not yet posted--have cleared. You should also make note of any recurring transactions so that you can set them up with your new account.
Online - To make the process easier, you can now close your account online. You will need to login to your account. Next, click My Accounts > Account Closure Request then follow the link to close your account. This will submit your account to the bank for closure. The standard processing and mailing time of 7-10 business days will apply.
After confirming that all transactions have completed, you can simply spend down your account balance using your SmarterBank card or transfer your balance to an external account. The account will automatically close if the balance remains at zero for 21 days. You can also contact Customer Care and request that a check for your remaining balance be mailed to you. The standard processing and mailing time of 7-10 business days will apply. For accounts with balances less than $2.00 a disbursement check will not be sent.
Who is The Bancorp?
The Bancorp Bank is an FDIC-insured, publicly traded (NASDAQ: TBBK) bank with more than $4 billion in assets. SmarterBucks partnered with The Bancorp to create SmarterBank, and since launch, The Bancorp has managed the banking functions and online interface associated all SmarterBank accounts.
Who can I contact for help with my One Point Checking account with The Bancorp?
For help with your checking account, contact bank Customer Care by email at email@example.com or call us at 866-792-5408.
For questions regarding the SmarterBucks program contact us at firstname.lastname@example.org.
When can I expect the rewards that I've earned from SmarterBank activity between now and December 4, 2013 to show up in my SmarterBucks dashboard?
Rewards can take between 30-90 days to show up in your SmarterBucks activity statement. We will be working hard to process your rewards as quickly as possible.
What happens to my SmarterBank checking account if I do not close it?
SmarterBank checking accounts that remain open as of December 4, 2013 will automatically become a One Point Checking account with The Bancorp.
Is SmarterBucks planning on launching new ways to earn SmarterBucks rewards?
Our mission at SmarterBucks is to get you out of student debt smarter, faster and for less. To this end, we are working on a number of new rewards features that would allow you to earn more SmarterBucks rewards. We'll be sure to keep you posted!