1. Onyx is a financial technology company and is not a bank. Banking services provided by Piermont Bank; Member FDIC. Deposits are insured to the maximum amounts permissible by law. Visit https://edie.fdic.gov/indes.html to learn more. The Onyx Visa® Debit Card is issued by Piermont Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.
2. The interest rate on your checking account is 0.4875% with an APY of 2%. Your interest rate and annual percentage yield are variable and subject to change based on the target range of the Federal Funds Rate. Fees could reduce earnings.
3. COMING SOON USDC 5.00% rewards rate effective as of June 27, 2022. The rewards rate can vary over time and is not guaranteed. The Onyx Rewards USDC deposit rewards account is a Digital Asset Participation Account and requires a separate agreement. The USDC rewards account is NOT FDIC insured.
4. Onyx Cash Back rewards are determined by your Onyx Card spend with eligible merchants. Your Onyx Rewards balance will be credited 3 Reward Points for digital subscriptions, 2 Reward Points for delivery and ridesharing and 1 Reward Point for all other purchases. [Onyx Rewards Program link] Your Special Offer [Dosh Rewards link here] rewards balance using your Onxy Card are in addition to the Onyx Cash Back rewards and may vary in amount as to eligible merchants in the programs discretion from 1 – 10% of your spend. Terms and conditions of the Rewards Program may be modified and services and benefits may be added or deleted at any time without notice to cardholders.
5 The Onyx Membership Fee will be subtracted from your Onyx Deposit Account opening deposit. If you select annual Membership your annual Membership Fee will be deducted from your Onyx Deposit Account on the on year anniversary date of your Account opening. If you select to pay your Membership Fee on a monthly basis, your Membership Fee will be deducted from your Onyx Deposit Account on the first day of your statement cycle.
6. Cardholders are responsible for the cost of any goods or services purchased through the Exclusive Member-Only Benefits.
7. This is not a solicitation for a deposit account or debit card. Waitlist status is not a guarantee of membership. You agree by putting your name and contact information on the waitlist we can contact you using the submitted information. All waitlist participants will be contacted regarding updates to the Onyx program, subsequent submission of membership application information to be requested by Onyx in the waitlist order received plus number of referrals. To become a member will require the submission of additional information for verification of eligibility. You can remove your name from the waitlist at any time.
8. The more you refer Onyx to other members the higher you get in our waitlist to be the one of the first members to try our membership.