What is the NewAlliance Bank Visa® debit card rewards program? How does it work?
The debit card rewards program is our way of saying thank you for using your NewAlliance Visa® debit card to make purchases - and for banking at NewAlliance Bank! Here's what you'll receive:
- $.03 for every signature transaction
- $.01 for every PIN transaction
- $1.00 for every signature transaction of $250 or more
- $1.00 when your total monthly debit card transactions reach $1,000
Note: All transactions conducted at an ATM or with an ATM only card are ineligible (even if used to make purchases). Only purchases made with a NewAlliance Visa® debit card are eligible.
When and how often will I receive my cash rewards?
Your cash rewards will be automatically credited to your checking account by the 15th of each month, for Visa
® debit card transactions completed during the previous calendar month. There's nothing to redeem.
Do I have to register to be eligible?
No. All you need is a NewAlliance checking account with a Visa
® debit card assigned to it, and you'll start earning rewards automatically.
Are cash rewards available for my business account?
Yes, the NewAlliance Bank Visa
® debit card cash rewards program applies to personal checking as well as business checking accounts that have a NewAlliance Visa
® debit card assigned to it. There are no differences in how the program works.
Why is my cash reward higher for a signature-based transaction?
Visa
® provides all debit card holders with zero liability protection. This means that you are protected against unauthorized use of your card, so you won't have to pay for fraudulent signature purchases you don't make. This is a good reason to sign for your purchases, instead of using your PIN.
How do I make a purchase with a signature transaction instead of a PIN transaction?
When you are at the register paying for your items, simply select "Credit" and not "Debit" on the electronic keypad. This will prompt the cashier to have you provide your signature for the sales transaction. A signature transaction is completed when you provide your signature on either a printed sales slip or an electronic signature pad.
Can I complete a signature Visa® debit card transaction even when the keypad prompts me to enter my PIN?
Yes. Just make sure you've selected "Credit" on the keypad, or tell the cashier that you would like to complete a credit transaction and not use your PIN. Remember, when you use your Visa
® debit card for purchases, whether or not you enter a PIN, your purchase amount will still be debited from your checking account.
How can I track my rewards as they accumulate?
Sign-up or log-in to online banking where you can view your cash rewards. You will be able to view your total cash reward from the previous month as well as year-to-date totals.
Do I pay taxes on the rewards?
Yes, your cash rewards will be reported to the IRS as income on a 1099 INT form.
Can I continue to use my current NewAlliance Visa® debit card?
Yes, if your NewAlliance Visa
® debit card displays the Visa
® logo on the front, simply continue to use the one you have. If you do not have a Visa
® debit card, or if your card has no
Visa
® logo, please visit your local NewAlliance Bank branch or give us a call.
What if I return merchandise that I purchased?
Cash rewards that were earned will not be taken away if merchandise is returned. However, you will not earn additional rewards on returns. Rewards are only earned on purchases made with your NewAlliance Visa
® debit card.
How does this program compare to my credit card rewards program?
Most credit card rewards programs offer points that you need to redeem for merchandise, travel or other benefits. Our program provides cash which is automatically deposited into your account - with no redemption hassles or points that expire. Plus, there are no big credit card bills or finance charges to worry about - the amount of your purchase is simply deducted from your NewAlliance checking account. So put away your credit card and start using your NewAlliance Visa
® debit card today!!
What if I don't want to participate in this program?
Simply write us a letter indicating that you would like to Opt-out of the Visa
® debit card rewards program and provide us the following information:
Checking Account Number
Primary Name on the account
Last 4 digits of your SSN
Address
You may provide this information in writing by sending it to:
NewAlliance Bank
P.O. Box 302
New Haven, CT 06510
Or, you may provide us this information by visiting any NewAlliance branch or by calling our Customer Contact Center at 800-892-2096.
Please note: opting out of this program will cancel accrued rewards on all Visa
® debit cards associated with your checking account. In addition, the benefits from the NewAlliance Visa
® debit card rewards program are non-transferable and cannot be redeemed for discounts or other benefits.
Where do I call if I have questions about the program, my account or my cash rewards?
You may call your local NewAlliance branch or our Customer Contact Center at
800-892-2096.