Traditional cash back rewards have long been a popular feature of various banking products, from checking accounts to credit cards and more. But what if those rewards had more than a one-time use? What if their value could grow, earn dividends and lay the foundation for a diverse financial portfolio?
With OMB Stock Rewards Checking, they can.
What is Stock Rewards Checking?
OMB Stock Rewards Checking is a cutting-edge account that introduces a novel approach to rewards. Instead of traditional cash back for everyday spending, customers earn back 5% of their everyday purchases redeemable for fractional shares of popular stocks, up to $5 per month. And those who like maintaining a higher balance can earn even more rewards - $10 if your account balance is $2,500 or higher at the end of each month.
By earning fractional shares of renowned companies, OMB customers can enjoy the benefits of the stock market without needing substantial capital. With OMB Stock Rewards Checking, the pathway to stock market participation is more accessible and inclusive than ever before.
While the stock market boasts thousands of publicly traded companies, this account keeps participation simple by allowing customers to choose from several of the world’s most popular companies, plus a few favorites local to OMB’s roots in southwest Missouri.
From giants like Microsoft and Apple to established consumer brands like Walmart and Starbucks, customers have the flexibility to select stocks that resonate with their goals and interests. Other available stock options include Amazon, Alphabet (Google), Meta (Facebook), computer chip maker Nvidia, bank software company Jack Henry and industrial powerhouse 3M.
In doing so, the account not only encourages financial literacy and market awareness but also enables customers to tailor their portfolio according to their preferences. With the potential for continuous growth and diversification, customers can harness the power of their everyday spending to gradually build a robust portfolio.
With no service charge and a monthly rewards cap of $5 - plus an additional $10 for balances above $2,500 at month-end - OMB Stock Rewards Checking ensures that customers can consistently earn stock rewards without feeling constrained by excessive limits. This thoughtful approach strikes a balance between encouraging regular spending and responsible financial management.
The simplicity and convenience of the account makes it an attractive option for customers seeking a seamless banking experience. Online account opening is straightforward and takes just minutes, plus customers can easily link it to their existing accounts for a hassle-free transition.
OMB’s best-in-class mobile banking app allows customers to manage their rewards on the go, providing real-time updates and insights into their investment progress. With OMB’s dedication to customer service and award-worthy digital banking solutions, customers can enjoy a modern experience that aligns with their financial goals.
Thanks to rewards partner Bits of Stock, OMB Stock Rewards Checking takes modern banking to a completely new level. By seamlessly integrating stock rewards into everyday spending, OMB enables customers to take control of their financial journey and embrace stock market participation with confidence.
With its emphasis on accessibility, diversity and convenience, OMB Stock Rewards Checking sets a new standard for innovative banking solutions, redefining the relationship between consumers and their financial institution in a profoundly new and different way.
Opening an OMB Stock Rewards Checking account is quick and easy - open yours online in minutes today!
How Stock Rewards Checking Works
Customers earn back 5% of their daily debit card purchases, up to $5 each month, redeemable for fractional shares of popular stocks. Account balances above $2,500 at month-end earn an addtional $10 in stock rewards. Here's how it works:
- Select your active stock from our list of popular companies — don’t worry, you can change it at any time.
- Use your debit card for gas, groceries, shopping and all your everyday purchases.
- Receive redeemable rewards: Each debit card purchase earns 5% back, up to $5, to be invested as fractional shares in your active stock pick.
- When your active stock pick reaches $5 in rewards, you’re ready to buy a fractional share of that stock!
Common Terms & Their Definitions
Stocks: Also known as shares or equities, stocks represent ownership in a corporation and are traded on the stock market. Investors purchase stocks in the hope of generating profits through capital appreciation and dividends as the company grows and becomes more profitable.
Fractional shares: Partial shares of a company's stock that are less than one full share, allowing investors to own a portion of a stock rather than a whole unit.
Dividends: Dividends are a portion of a company's profits distributed to its shareholders. Typically paid quarterly or annually, dividends are a way for companies to share their financial success with investors and provide them with a regular income stream based on the number of shares they own.
Investment portfolio: A collection of various financial assets, such as stocks, bonds and mutual funds, owned by an individual or an organization to achieve financial goals and manage risk.
Portfolio diversification: Portfolio diversification refers to the practice of spreading investments across various asset classes, industries and geographic regions to reduce risk and optimize returns. By diversifying their portfolios, investors aim to minimize the impact of market fluctuations on their overall investment performance.
Mobile app integration: The process of linking a bank account or financial service to a mobile application, allowing users to manage their finances, track transactions and access banking services conveniently from their smartphones or tablets.
OMB and its affiliates do not provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decision.
OMB Stock Rewards Checking requires connected brokerage account with rewards partner Bits of Stock. Redeemed shares of stock are not insured by the FDIC, not guaranteed by the bank and subject to investment risks, including possible loss of principal amount invested. These non-deposit investment products are insured by the SIPC with a total of up to $500,000, including $250,000 in cash. See account disclosures or a branch banker for complete details.
Invest When You Spend
Here are some of the many stocks you can choose from - spanning the world's largest tech companies to local favorites.
Plan for Anything
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MONEY TIPS
** OMB Stock Rewards Checking requires connected brokerage account with rewards partner Bits of Stock. Redeemed shares of stock are not insured by the FDIC, not guaranteed by the bank and subject to investment risks, including possible loss of principal amount invested. These non-deposit investment products are insured by the SIPC with a total of up to $500,000, including $250,000 in cash. See account disclosures or a branch banker for complete details.
TRUTH IN SAVINGS DISCLOSURE:
MINIMUM BALANCE REQUIREMENTS. You must deposit $25.00 to open this account.
TRANSACTION LIMITATIONS. You may make an unlimited number of deposit(s) into your account.
ADDITIONAL INFORMATION REGARDING YOUR ACCOUNT. Do rewards differently by earning fractional shares of popular stocks with every debit card purchase.
No minimum balance required to qualify for $5 stock reward tier. A $2,500 minimum balance at month-end is required to qualify for additional $10 stock reward tier.
Qualifications:
- Earn up to $5 in stock rewards per month on qualifying debit card purchases.
- Earn an additional $10 in stock rewards if your account balance is $2,500 or more at month-end.
- 5% of each debit card purchase applies toward earning base tier rewards.
- Requires a connected brokerage account with our partner, Bits of Stock. Not insured by the FDIC. Not a deposit or other obligation of, or guaranteed by, 0MB Bank. Subject to investment risks, including the possible loss of the principal amount invested. Non-deposit investment products are insured by the SIPC up to $500,000, including $250,000 in cash.
- Customer must select a default stock pick to begin to earn rewards.
- Stocks are chosen by 0MB Bank and may change at any time.
- If you choose to close your Bits of Stock brokerage account, your 0MB Bank checking account will not automatically close. You must inform 0MB Bank if you wish to close the checking account.
- Rewards will be lost if not redeemed prior to account closing.
This account requires you to receive electronic statements monthly; however, you may add-on the service of receiving a paper statement fee for a $4 monthly statement fee.
This account requires you to receive electronic statements monthly; however, you may opt to receive paper statements for a $4 monthly statement fee. If you meet your eligibility qualifications, stock reward redemption is available for qualifying debit card purchases, subject to a $5 base monthly cap and an additional $10 reward tier for customers maintaining a $2,500+ balance at month-end. Limit one account per primary Social Security Number.
Nonsufficient Funds (NSF) Fees
If an item you draft (such as a check) or a transaction you set up (such as a preauthorized transfer) is presented for payment in an amount that exceeds your available balance, and we decide not to pay the item, we may charge you an NSF fee for returning the payment. Be aware that such an item may be presented multiple times. We do not monitor or control the number of times a transaction is presented for payment. We will process debit and credit transactions in accordance with our processing order policy. If your account has insufficient funds to cover transactions in the order they are processed, we may charge NSF fees for returned transactions or overdraft fees if we pay the item on your behalf.
FEES AND CHARGES. Please refer to the separate Fee Schedule provided to you with this disclosure for information about fees and charges associated with this account. A Fee Schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request. The following additional fees and charges apply to this account:
Paper Statement Fee: $4.00
Starbucks and the Starbucks logo are registered trademarks of Starbucks U.S. Brands, LLC
Jack Henry and the JHA logo are registered trademarks of Jack Henry & Associates, Inc.®
Apple and the Apple logo are trademarks of Apple, Inc., registered in the U.S.
3M and the 3M logo are the registered trademarks of 3M.
Amazon and all related Marks are Trademarks of Amazon.com, Inc. or its affiliates.
Microsoft and the Microsoft logo are trademarks of Microsoft Corporation, Inc., or its affiliates.
Meta and the Meta logo are trademarks of Meta, Inc.
Walmart, Wal-Mart, and the Walmart logos are registered trademarks of Walmart.
Google and the Google logo are registered trademarks of Google LLC.
Nvidia, the Nvidia logo, and all related marks are trademarks of Nvidia Corp.
App Store is a service mark of Apple Inc. Apple and the Apple logo are trademarks of Apple Inc, registered in the U.S. and other countries. Android, Google Play, and the Google Play logo are trademarks of Google Inc. Data charges may apply. Check with your mobile phone carrier for details.
Zelle® and the Zelle® related marks are wholly owned by Early Warning Services, LLC and are used herein under license.