QPlus Checking Account
Get Paid Early with 5-Day Early Access to Direct Deposit!
You’ve heard of banks that pay two days early. What about five days early1?
With QPlus Checking, you’ll get access to your direct deposit five days early. Now you can manage your money on your terms, whether it’s for an impromptu trip, a new venture, or getting some extra breathing room for your bills, so you can manage them stress-free. Plus, enjoy perks like the ability to earn 1.25% APY2, zero overdraft fees3, and unlimited ATM fee reimbursements3.
Discover Why QPlus is the Best Online Checking Account for Your Money
In addition to the standard features that come with all our checking accounts like, FREE Debit Mastercard®, FREE Bill Pay service, Priceless Mastercard® special offers, mobile deposits, and Zelle®, we’ve added a few more bells and whistles so we can give you Quorum’s hardest-working, interest-earning, online checking account ever!
5-Day Early Access to Direct Deposit1
Earn 1.25% APY2
No Overdraft Fees3
No ATM Fees4
Easy Online Account Access
How Does QPlus’s 5-Day Early Access to Direct Deposit Work?
To take advantage of 5-Day Early Access to Direct Deposit and get paid early, you must satisfy the account requirements below:
Open an Account
Set Up Direct Deposit
Enroll in eStatements
When Do I Start Receiving Direct Deposit Five Days Early?
Once you’ve completed the steps above and we’ve validated at least two direct deposits with an aggregate balance of at least $500, you’ll start receiving your paychecks five days earlier than scheduled as an advance from Quorum. There is no additional cost for this service; you can use these funds immediately for any purpose.
When payday officially rolls around, we’ll adjust your account by deducting the amount we advanced to you, ensuring that we do not provide an overpayment. It’s important to remember that timing is essential, so please make sure that your direct deposits are active or that you have enough funds in your account when we reconcile the advance.
How to Apply for a QPlus Checking Account
Other Helpful Resources:
What’s the Deal with Early Direct Deposit?
Questions to Ask Before Opening or Switching Checking Accounts
Joint Checking Accounts: What to Know Before Opening One.
Frequently Asked Questions
How does the $0 Overdraft Feature work for QPlus Checking?
QPlus Checking waives any fees associated with transactions that cause your account to go negative by providing you with two levels of overdraft protection at no cost to you:
- Automatic Overdraft Transfers – This is a free service that authorizes Quorum to automatically transfer funds from any of your eligible existing Quorum savings accounts to your QPlus Checking account to cover transactions that cause your account to go negative.
- Courtesy Pay – If you do not have funds available for transfer in your other Quorum accounts, our Courtesy Pay service will kick in. Courtesy Pay is a free service for QPlus, in which Quorum will consider paying your checks, ACH and recurring debit transactions that overdraft your account, up to $200. You also have the option to opt in to our Extended Courtesy Pay service, to cover everyday debit card and ATM transactions.
Once these two levels of protection have been depleted, any transactions that may cause your account to go further negative will be automatically declined. Quorum will not charge any fees for declined transactions, returned items, or overdrafts related to QPlus Checking.
When will I receive my ATM fee refund for my QPlus checking account?
With a QPlus Checking account, you will receive unlimited ATM fee reimbursements, which will automatically be deposited into your account on the second business day of the following month.
How many 5-Day Early* Access deposits am I allowed to receive per month?
The 5-Day Early Access to Direct Deposits feature only allows for up to two funding sources per QPlus Checking account.
There is no limit to the number of direct deposits you’re allowed to receive as long as the direct deposits are coming from the two eligible funding sources. If you have more than two funding sources, you can choose which two funding sources should receive this benefit by calling (800) 874-5544, Monday through Friday between 8:30 a.m. – 7:00 p.m. ET.
What is the difference between Quorum’s Early* Direct Deposit feature and QPlus Checking’s 5-Day Early* Access to Direct Deposits?
| Early Direct Deposit | 5-Day Early Access to Direct Deposits | |
| Early Access Timing | Quorum will make your direct deposit available 2-5 days early, depending on when we receive the payroll/funding information from your employer or funding source. | Quorum will make your direct deposit funds available five days early, regardless of when we receive the payroll/funding information from your employer or funding source, as long as account requirements are met. |
| Availability | Applies to all checking and savings accounts, if you have qualifying direct deposits set up, except in QPlus Accounts when the 5-Day Early Access to Direct Deposits feature is activated. | Available only for QPlus. This benefit will override the Early Direct Deposit feature once activated. |
| Requirements | Automatically kicks in for eligible direct deposits. | Kicks in once the QPlus Checking account requirements are met. |
How do I find out what QPlus checking account transaction was returned/declined?
QPlus checks that are declined/returned due to insufficient funds will not appear on your account transaction screen and you will not be charged a fee for these returned items. However, a Nonsufficient Fund (NSF) eNotice is generated for every returned transaction. You can access this notification within online or mobile banking under “Statements/Docs” which you will find under the “Accounts” menu.
What happens if I’m no longer receiving direct deposits from my employer or funding source?
QPlus Checking requires two monthly direct deposits of at least $500 for each direct deposit and enrollment in eStatements. If you can no longer satisfy these requirements, you will incur a fee of $10 for each month that these requirements are not met. To avoid this monthly maintenance fee, you can do one of three things:
- Reestablish the account requirements for QPlus by setting up the required direct deposits and enrolling in eStatements.
- Close your QPlus checking account. To close your account, contact Member Services by sending us a secure message via online banking or the mobile banking app, or by calling (800) 874-5544, Monday through Friday between 8:30 a.m. – 7:00 p.m. ET.
- Change your QPlus checking account to another checking account product. To switch your checking account, submit the “Checking Account Change Request” form via online/mobile banking.
How does Direct Deposit work?
Direct deposit is an automated process commonly used for paychecks, which allows employers to transfer money electronically into your checking or savings account, with no need for a physical or paper check.
Direct Deposit works through an electronic network called the Automated Clearing House (ACH). The ACH network is managed by the National Automated Clearing House Association, a nonprofit association known as NACHA. It administrates the movement of money through the ACH network for all U.S. banks and credit unions.
How do I set up Direct Deposit with Quorum?
To initiate a direct deposit through your employer, use our ABA Routing & Transit Number 221981335 and your Quorum checking or savings account information when setting up this service with your employer.
Please use the following account number formats to ensure the funds are deposited/withdrawn appropriately:
- For savings accounts: Provide your account number (also known as your member number) and suffix without dashes. For example, your account number is 123456 and your savings account suffix is 0000, you would use 1234560000. You can view your suffix(es) in online banking. The suffix is the four-digit number listed after the dash in the number under each account name.
- For checking accounts: Provide the 14-digit account number located on the bottom of your Quorum checks. (You do not need your member number or suffix.) You can also find this in online banking by clicking on your checking account, then the “Account Details” tab above your transaction history.
Can I switch checking accounts?
Yes, it’s easy to switch checking accounts. Follow the steps below to get started:
- Log in to online/mobile banking.
- Select “Account Services.”
- Under “More Services,” click “Checking Account Change Request.”
- Complete the form, and then click “Submit.”
Please note, if you are trying to switch to a new QPlus Checking and you have an existing Overdraft Line-of-Credit (Checking Reserve) linked to the checking account you are attempting to switch from, you must close your Overdraft Line-of-Credit (Checking Reserve) and pay off any remaining balance on that account prior to switching to QPlus Checking.
When do I start seeing the QPlus Checking 5-Day Early Access* to Direct Deposit feature kick in so I can get paid early?
In order to establish access to this feature and get paid early, two direct deposits with an aggregate total of at least $500.00 coming from the same funding source and enrollment in eStatements must be established within 90 days of account opening. It may take two cycles for the early access to direct deposits to take effect.
Once this feature kicks in, you can expect to see up to three transactions related to QPlus:
- QPLUS EARLY DD – A transaction with this starting item name indicates that your 5-Day Early Access to Direct Deposit has kicked in. Your account will receive funds from Quorum that is equal to the direct deposit you set up for QPlus approximately five days prior to receiving your actual direct deposit from your funding source.
- Actual Direct Deposit – This is the actual direct deposit transaction from your funding source (employer, etc.)
QPLUS ADV REPAY – A transaction with this starting item name indicates that we’ve debited back the amount that is equal to your advance (i.e., QPLUS EARLY DD). This amount will be taken from your account once the actual direct deposit transaction from your funding source comes in, or, if we do not receive the funding source at the scheduled date of direct deposit. This transaction ensures that we don’t overpay your account.
If you have any questions related to the transactions on your account, please log in to your account via our mobile banking app or online banking and send us a Secure Message.
When will I start earning dividends on my QPlus Account?
QPlus Checking lets you earn dividends on average daily balances of $10,000 and over. As long as you meet the minimum balance requirements, you will earn dividends on all funds available in your account. Your earnings are posted on your account monthly.
Are my funds insured with Quorum?
Your Quorum accounts are insured up to $250,000 per person by the National Credit Union Share Insurance Fund (NCUSIF). Individual Retirement Accounts (IRA) are insured separately up to $250,000. The National Credit Union Administration (NCUA), a federal agency, administers the insurance fund and regulates federally insured credit unions. The fund is backed by the full faith and credit of the U.S. Government.
Depending on how your accounts are owned and what types of accounts you have, you can potentially increase the total insurance on your funds to greater than $250,000.
The Share Insurance Estimator, found here, can help you determine whether your accounts are established and insured appropriately. If you have already utilized the Share Insurance Estimator and still have additional questions, you can also reach out to the NCUA Consumer Assistance Center at (800) 755-1030. Representatives are available from Monday through Friday from 8 a.m. – 5 p.m. ET. You can also send an email with your questions to dcamail@ncua.gov.
A Few Things You Should Know
1. 5-Day Early Access to Direct Deposits: This feature is only available for Quorum members with a QPlus Checking Account. In order to establish access to this feature, two direct deposits with an aggregate total of at least $500.00 coming from the same funding source and enrollment in eStatements must be established within 90 days of account opening. It may take two cycles for the early access to direct deposits to take effect. Early Access funds will be credited to your account up to 5 days prior the date scheduled by the payor and is subject to change at any time. Quorum does not guarantee that any direct deposits will be made available before the date scheduled by the payor, and early availability of funds may vary between direct deposits from the same payor. Quorum shall have no liability for payments returned as a result of insufficient funds, overdrafts or any other payment failure due to reliance on Early Access funds. Early availability of your direct deposit is not guaranteed and may vary from deposit to deposit. There is a maximum of two direct deposits that will be eligible for Early Access and a maximum of $10,000 per direct deposit will be advanced. In the event an account has more than two different direct deposits, Quorum reserves the right to determine which two are eligible for Early Access. Funds availability depends on meeting the requirements mentioned above and is subject to any additional limitations set on early availability of funds, including, but not limited to standard fraud prevention screening. The criteria we use for making funds available early are determined at our sole discretion, based on confidential criteria necessary for maintaining the security of your account and our payment services and is subject to change.
2. Annual Percentage Yield (APY) is in effect as of 04/01/24 and subject to change. The current rate is 1.24%. APY and rate may change after account is opened. You must maintain a minimum monthly balance of $10,000 in order to earn this APY and rate. Balances under $10,000 will earn the Basic Savings APY and rate. Please refer to our rate sheet for current APY and rates.
3. Overdraft Protection: You will not be charged with any overdraft of non-sufficient funds fees on this account. QPlus Checking comes with two levels of overdraft protection at no cost to you: automatic overdraft transfers and Courtesy Pay. The automatic overdraft transfers feature authorizes Quorum to transfer funds from any of your eligible existing Quorum savings/checking accounts to your QPlus Checking account to cover transactions that cause your account to go negative. Courtesy Pay allows us to consider paying your checks, ACH and recurring debit transactions that overdraft your account up to $200.
4. ATM Fee Reimbursements: ATM fees incurred will be reimbursed and will be automatically deposited into your account on the 2nd business day of the following month.