To fully set up a Rocket Dollar account, our team will open a bank account with one of our partner banks: Solera National Bank or American Estate & Trust. Here is a list of common fees you could encounter while using our partner banks.
Basic Bank Fees
Solera National Bank:
| Domestic Outgoing Wire Transfer | $30 (updated 12/12/2022) |
| Domestic Incoming Wire Transfer | $15 (updated 12/12/2022) |
| Yearly Free Outgoing Wire Transfers | Four outgoing wires a year are covered by a Gold subscription. |
| Bounced or Returned Check (returned deposited item) | $5 |
| Overdraft/Overdraft protections | Not offered as Self-Directed Retirement Accounts cannot be provided extensions of credit |
| Daily Wire Limit | There is a $250,000 daily wire limit. For special wires at higher levels, please contact Rocket Dollar Support. |
American Estate & Trust:
| Domestic Outgoing Wire Transfer | $40 |
| Domestic Incoming Wire Transfer | $40 |
ACH Transfer
ACH transfers are free up to $99,999.99 through the bank messages portal. The Daily cut-off is 4 pm Central Time.
If the amount is larger, it would be a domestic outgoing wire transfer of $25 or you can also write a check if you have a checkbook.
Simply set the ACH transfer as a "business" transaction. If you hit a $5,000 limit, you may be using the "personal" ACH transaction setting and simply need to change it when executing with our bank partner.
Activity Requirements
| Minimum Balance Requirements | None, but must maintain an active Rocket Dollar Account |
| Minimum Activity Requirements | None, but must maintain an active Rocket Dollar Account |
Checks and Debit Cards
| Customized Checkbook Order | $8 for 100 check orders. (automatically included with Rocket Dollar Gold) |
| Cashier Check Sent by Bank | $5 |
| ATM/Debit Card Replacement |
Checkbooks and Debit Cards come automatically with the Gold Account. Can I still get them with a Silver Account?
Yes, but you are responsible for procuring it from our partner bank. With a Silver account, you will have to procure a checkbook or debit card on your own. Rocket Dollar support does not provide these items. Any fees needed to purchase a checkbook will be taken from the IRA.
International Investments and Activity
| International Outgoing Wire Transfer | $50 |
| International Incoming Wire Transfer | $10 |
Can I choose my own bank?
No. Rocket Dollar has chosen its partners based on extensive review processes.
Comments
1 comment
Hi, With the Core account, will I be able to name my own LLC? or if not, how will you name it?
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