Paducah Bank Debit Card

Use your Paducah Bank debit card and feel like a million bucks!

There has been negative talk in the community recently about banking. And as usual, some of the information is true, some isn’t. Paducah Bank has many positive things to say about our way of doing business here in our hometown. So we’d like to share information about some of our current products and services.

“We actually listen to our customers,” says Wally Bateman, President of Paducah Bank. “We want to know what our customers want, what they’re thinking, and how they prefer to bank. That’s one of the reasons we’ve instituted customer surveys and conducted market research efforts. If we know what products our customers would like to access and how they would like those delivered, we will do everything possible to respond appropriately. That’s a philosophy that we continue to stand by.”

Banks have decisions to make every day. They have choices. They are rarely “forced” into situations that affect ultimate customer outcomes. “We make decisions every day based on our core values and our basic philosophy of business,” says Joe Framptom, CEO of Paducah Bank.  “When you hear banks say they HAVE to apply fees and charges because of changes in regulations or Congressional mandates, that is not altogether true. When laws change and new industry regulations are imposed, in most cases, banks have many choices on how to react to those changes. At Paducah Bank, we make a conscious effort to critically analyze changes in our industry or amended laws which affect our Paducah Bank offers operations, and then we work hard to find ways to keep those FREE checking. That means no changes from having an adverse effect on our customers.

“We at Paducah Bank also believe strongly in reinvesting in our minimum balance community in a way that rewards our citizens and our customers,” is required, and you also get FREE internet banking” Framptom adds.

“This kind of positive impact in our community helps to keep our bank strong, and also provides a lasting impact on the people who live and work here in our region. We lend to local businesses; we employ local people; and we support Paducah Bank individuals in their quest to make their financial goals a reality. It’s a win/win for everyone in our small part of the world. And that’s very ‘rewarding’ for all of us.”

This issue of WOW Magazine has answers to some often-asked questions, particularly about the use of debit cards and our WOW! Debit Card Reward Program.  As always, please give us a call at 270.575.5700 if your questions haven’t been answered. We’re always happy to assist you!

{Q} What is the WOW! Debit Card Reward Program? 

{A} You are rewarded for choosing Paducah Bank and using our debit card. The cash reward program is based on either the number of transactions or the dollar amount of usage on your Paducah Bank WOW! Debit Card. The cash reward program requires a signature-based (credit) transaction.

{Q} How does the WOW! Debit Card Reward Program work?

{A} At the time of purchase, there are two card payment methods available:

  1. a PIN-based payment method, which is a “debit” transaction at any ATM or business where your PIN is entered to complete the transaction;
  2. a signature-based payment method, which is a “credit” transaction at any business in which your PIN is not entered.

To take advantage of the rewards, you must select the “credit” payment method. You will not be charged for the transaction if you make a “debit” payment, but there is no reward.

{Q} What cash reward options can I choose from?

{A} One option is calculated on how many times you use your card. Paducah Bank will reward $.10 (a “dime-a-time”) for every signature-based transaction during your monthly statement cycle.  For example, if during your statement cycle you use your card for 20 transactions, Paducah Bank will post a $2 credit to your account that month. If you generally use your WOW! Debit Card for smaller purchases, the “dime-a-time” is a good option.

The other option is a tiered percentage of the cumulative dollar amount of signature-based purchases that you make during the year. Paducah Bank will take the total amount of such purchases for the 12-month period (from November 1 through October 31) and compute the reward as follows:

  • First $3,500 will be rewarded $8.75 (based on .25% of the purchase amount)
  • Next $3,500 will be rewarded $17.50 (based on .50%)
  • Next $3,000 will be rewarded $22.50 (based on .75%)
  • All purchases greater than $10,000 will be rewarded based on 1%

Because this percentage option is payable annually on October 31, the earned, but not paid reward amount will appear on your account statement in the memo section so that you can keep informed of the growing reward.  For example, total signature or “credit” based purchases of $20,000 in the reward period ending October 31, would earn a $148.75 credit to your account. If you generally use your WOW! Debit Card for larger purchases, this method pays back more than the “dime-a-time” method.

{Q} Who is eligible to participate?

{A} Any Paducah Bank customer with a checking account is eligible to participate. This program does include business,  not-for-profit, or any other non-personal account.

{Q} Are current WOW! Debit Card cardholders automatically enrolled in this cash reward program? 

{A} No. Because of the options involved, the cardholder must sign up for this cash reward program and select the option best for them. If you are an existing customer and would like to enroll, you may stop by any Paducah Bank location or call us at 270.575.5700.