Posted March 23, 2018 11:14:51 What does it mean?
“The bonus is now calculated based on your earnings and the bank bonus,” said Brian Pascarella, president and chief executive officer of the CSL bank.
“The bank bonus will be calculated based upon your bank bonus and bonus eligible deposits.”
The bonus calculation will be based on the number of bank deposit withdrawals you made in each month and your total earnings for that period, he added.
The bank bonus calculation is based on total earnings, and is calculated as a percentage of total bank deposit balances.
That percentage is calculated on the total amount of cash you make on a daily basis, Pascareas said.
For example, if you make $500 a day and earn $1,500 in bonuses, your bonus will come out to $2,500.
The total of your bank deposit bonus and bank bonus eligible withdrawals is calculated based off your bank account balances.
The bonus calculated for a new bank account will not be applied to previous accounts.
Bank bonuses and bonuses earned on a pre-existing bank account can also be included, Pescarella said.
The CSL Bank has been an employer for 10 years, Piscarella said, and has about 1,300 employees.
The company is currently evaluating the bonus calculation process and expects to announce the results of the bonus calculator process in the coming days.
The average bonus amount for employees in the Southeastern United States is $8,000.
The bonuses will be applied retroactively to the first $2 million of any employee’s bonus pool after the first year, Paccareas added.
It is possible that some bonuses may be subject to a penalty if a customer is found to be using the account after the account is closed, PISCAREAS said.
“If the customer is later found to have used the account, that will be assessed in the bonus amount,” he said.
Customers are advised to check the bonus disclosure form for their bank to be aware of the amount of bonus they can receive.
The Bonus Calculator has been updated for 2018.
“We have added the ability to compare bonus amounts across all bank bonuses and bonus eligibilities,” Pascarias said in an email.
“This is very helpful for those of you who are looking to compare bonuses across bonuses and incentives.”
The CSPB is a 501(c)(3) nonprofit organization with offices in New York City, Dallas, Fort Worth, Oklahoma City, Salt Lake City, and San Antonio.
The award is made through the United States Postal Service.
For more information, go to csnb.org/bonus.
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