To fully achieve checkbook control, Rocket Dollar will open a bank account at our partner bank: Solera National Bank. Here is a list of common fees you could encounter while using our partner bank
Basic Bank Fees
Domestic Outgoing Wire Transfer - $25
Domestic Incoming Wire Transfer - $10
Four 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
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.
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 - $10 (automatically included with Rocket Dollar Gold)
International Investments and Activity
International Outgoing Wire Transfer - $50
International Incoming Wire Transfer - $10
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 you 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.
Can I choose my own bank?
No. Rocket Dollar has chosen its partners based on extensive review processes.