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Reddi Reserve Account Agreement Updates

Important changes to your Nevada State Bank Reddi Reserve Account Agreement

Agreement Letter

Important changes to your Nevada State Bank Reddi Reserve Account Agreement 

We are notifying you of changes to your Nevada State Bank Reddi Reserve Account (CRL) that will occur as we convert your deposit account to our new system. Below are details of these changes: 

  • Your Reddi Reserve Account (CRL) is now called “Flex-Line.”

  • Your Reddi Reserve Account payment due date is changing. The monthly payment due date will now be 25 days after your statement closing date.

  • Your new account number will be on your first statement after the conversion. Your account number will be truncated, and will only show the last 4 digits, however your full account number (15-digit number) is located at the bottom of page 1 in the payment coupon section. You may need this number to set up a payment through a third party who requires this account number.

  • Your credit line, outstanding balance, and available limit will transfer automatically to your new Flex-Line account, including transfers to the checking account currently connected to your Reddi Reserve Account.

  • Automatic payments set up under your Nevada State Bank checking account will transfer over with conversion. Any automatic payments from another financial institution will need to be re-established by completing a Consumer Loan Authorization Form. Please contact your local office/banker to complete this process.

  • Your Flex-Line will have a standalone statement and you will now receive paper statements. To receive electronic statements for your Flex-Line, you will need to re- enroll using this link [www.nsbank.com]. After signing in to Nevada State Bank Digital Banking please go to Services>eDocuments>Preferences>eStatements and eNotices, to select the box and opt out of paper delivery for Statements and Notices for your Flex- Line account. 

Benefit: At conversion, you will have the ability to transfer funds to enrolled eligible accounts through Nevada State Bank Digital Banking without a corresponding fee.


Important Changes to Your Account Terms—a summary of interest rate and fee changes, which will take effect on April 7, 2024

Description
Current
After Migration
Description

Interest Rate

Current

Prime + 16.74% Variable Rate

After Migration

Same

Description

Transfer Rate

Current

$10 per transfer

After Migration

$10 per automatic transfer; no fee for transfers initiated through Online Banking/Mobile Banking

Description

Automatic Transfer Amount

Current

$100 increment

After Migration

Actual Overdraft Amount

Description

Payment Due Date

Current

Various

After Migration

A fixed date each month, starting 25 days after the statement closing date

Description

Minimum Payment

Current

The greater of $25.00 or 1.00% Outstanding Balance

After Migration

The greater of $25.00 or 2.78% Principal Balance plus accrued interest

Description

Penalty Fees

Current

Return Payment: $6

After Migration

Return Payment: $25

Description

Late Fees

Current

Late Fee: $20

After Migration

Late Payment: $29


You have the right to reject these changes unless you become more than 60 days late on your account. However, if you reject these changes, you will not be able to use your account for new transactions. You can reject the changes by calling us at  800-727-4743 by midnight MST, on April 6, 2024.
 

Please click here to view the Flex-Line Agreement for additional information. 

Please Note: If the Account is subject to a temporary hardship program, the program terms will apply to the Account as previously disclosed to you. Protections afforded under the Servicemembers Civil Relief Act or Military Lending Act, if applicable, will continue to apply to the Account for the period that you are entitled to such protections.

Revised Terms, as of April 7, 2024 

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You're about to leave Nevada State Bank's website and be directed to a website that is not affiliated with Zions Bancorporation, N.A. dba Nevada State Bank and may have a different privacy policy and level of security. Zions Bancorporation, N.A. is not responsible for, and does not endorse or guarantee, the privacy policy, security, accuracy, or performance of the third party’s website, or the information, products, or services that are expressed or offered on that website.

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Warning: you’re about to leave!

You're about to leave Nevada State Bank's website and be directed to a website that is not affiliated with Zions Bancorporation, N.A. dba Nevada State Bank and may have a different privacy policy and level of security. Zions Bancorporation, N.A. is not responsible for, and does not endorse or guarantee, the privacy policy, security, accuracy, or performance of the third party’s website, or the information, products, or services that are expressed or offered on that website.