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You’re on the right road for savings

You will have the opportunity to add a Linked Savings account to your student loan refinance at the end of the refinance process. You can bypass any Checking account invitations and look for an offer to add Linked Savings when you receive your final rate offer. Please note: you can only add one deposit account – either Linked Savings or Checking – to reduce your student loan refi rate.

Checking - FAQ

Using Your Debit Card

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Account Management

  • Can I deposit cash into my Laurel Road CheckingSM account?
    No, you cannot deposit cash directly into your Laurel Road Checking, however there are several ways you can add money to your account. You can deposit checks via online banking or our mobile app, set up an online transfer, direct deposit, or wire transfer to add funds to your account.  
  • How do I order paper checks for my Laurel Road CheckingSM account?
    You can order paper checks anytime through your online banking account, or by calling us at (833) 427-2265. For TDD/TTY (for the hearing impaired), call 1-800-539-8336.
  • How can I add a joint account owner to my checking account?
    To request the addition of a joint account owner, please contact us at (833) 427-2265. For TDD/TTY (for the hearing impaired), call 1-800-539-8336.
  • When will my funds be available after I make a deposit?
    The availability of funds depends on the type of deposit you make and how it is deposited.
    • Same-day availability: Direct deposits of electronic payments (such as Social Security benefits and payroll), wire transfers received by 6:00 p.m. ET on a business day.

    Next-Day availability: U.S. Treasury checks payable to you, wire transfers received after 6:00 p.m. ET on a business day will be available for withdrawal on the next business day.

    Exceptions

    There are a few exceptions that may delay your availability of funds. If we delay your ability to withdraw funds for any of these reasons, we will notify you and inform you when the funds will be available.

    Reasons for delay include:

    • We believe a check you deposit will not be paid.
    • You deposit checks totaling more than $5,000 on any one day.
    • You redeposit a check that has been returned unpaid.
    • You have overdrawn your account repeatedly in the last six months.
    • There is an emergency, such as failure of computer or communications equipment or other conditions beyond our control.
    • You are a new client with a checking account open for fewer than 30 days.

    In case of a delay, your funds will generally be available for withdrawal no later than the fifth business day after your deposit. For more information, see our funds availability policy.    
  • How do I view activity in my checking account?
    You can view your checking account activity in the following ways:
    • Sign in to Online Banking
    • Use the Laurel Road mobile app (you must be enrolled in Online Banking)
    • Check your monthly statement online (you may request to receive statements by mail)
    • Call (833) 427-2265, or TDD/TTY (for the hearing impaired): 1-800-539-8336.
     
  • Can I pay my bills online using Laurel Road CheckingSM account?
    Yes, you can pay your bills online with your Laurel Road CheckingSM account. With online bill pay, you don’t have to worry about writing paper checks, buying stamps, or going to the post office.
  • How do I add money to my checking account?
    You can add money to your account by depositing checks through online banking or our mobile app, or by setting up an online transfer or direct deposit.
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About

  • Where can I learn about Laurel Road’s overdraft fees?
    You can find detailed information about Laurel Road Checking account overdraft fees here , or by calling a member specialist at (833) 427-2265. For TDD/TTY (for the hearing impaired), call 1-800-539-8336.
  • Where can I find my routing number?
    Your routing number is the first nine digits located on the lower left-hand corner of your checks. You may also lookup your routing number by logging into your online banking account or by calling us at (833) 427-2265, or TDD/TTY (for the hearing impaired): 1-800-539-8336.
  • What is the student loan refinance interest rate discount I will receive for opening a Laurel Road Checking account?

    Members who open a Laurel Road CheckingSM account in conjunction with an application to refinance their student loans will receive an introductory 3-month 0.25% interest rate discount on their Laurel Road student loan, which will be applied during the first three billing cycles of the student loan. Starting with the 4th billing cycle, and continuing with each billing cycle thereafter, the interest rate discount applied during a billing cycle will be based on the amount deposited via an Automated Clearing House (ACH) transaction into the Laurel Road Checking℠ account during the preceding calendar month, according to the table below.

    Note: To continue to receive the discount for the 4th billing cycle, you must begin making ACH deposits to your Laurel Road Checking account during the second full month after your loan funds.

    Direct Deposit Amount 3-Month Intro Discount Post-Intro Discount*
    $0 - $2,499 0.25% 0.00%
    $2,500 - $7,499 0.25% 0.25%
    $7,500+ 0.25% 0.55%

    *Potential discount after three months and qualifying monthly direct deposits

    Example: If your first payment due date is June 15th, you will receive the introductory 0.25% interest rate discount for the first three billing cycles (e.g. May 16th – June 15th, June 16th – July 15th, and July 16th – August 15th). The discount for the fourth billing cycle (from August 16th – September 15th) will be based on the amount deposited via an ACH transaction into your Laurel Road CheckingSM account during the preceding calendar month (July in this example). Consistent with the table above, for subsequent billing cycles your discount will be based on the amount deposited via ACH in your Laurel Road Linked CheckingSM account for the previous calendar month.
  • Is the money in my Laurel Road CheckingSM account FDIC-insured?
    Yes. The balance in your checking account is FDIC-insured up to the maximum allowable limit. Laurel Road is a part of KeyBank N.A. All single accounts owned by the same person at KeyBank N.A. are added together and insured up to the maximum allowable limit. To learn more, contact the FDIC toll-free at 1.877.ASK.FDIC (1.877.275.3342) or visit www.fdic.gov.
  • How much interest will I earn with my Laurel Road CheckingSM account?
    Laurel Road CheckingSM is an interest-bearing account. You can see the most updated interest rate for your Laurel Road CheckingSM account here.
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