How it Works: A Lesson in AAR Banking AAR Official Bank How it Works: A Lesson in AAR Banking

Teaching you Responsibility The new AAR Banking System requires Alphas to keep track of their own points and cash in a way. Part of the reason we’re relinquishing some of this responsibility to you is to ensure that you understand the power of a dollar, realize that we trust you, and can fend for yourself on a small scale way.

How Island Money Works When you’re at the AAR Mall or are purchasing text-books or anything that requires a fee, all transactions are made through imaginary DEBIT cards Debit cards are different than credit cards because when you use a debit card, the money you use is taken directly from your bank account.

How Island $$$ works (cont.) So basically, you can shop without having to worry about cash or anything… as long as you have enough in your account to cover it. That’s why keeping your account as up to date as possible is ideal. We monitor the money you use around the Island; you have to monitor the money in your bank account to make sure you don’t go over.

How to Deposit $$$ in my Account To deposit money into your account, just go to the AAR bank and fill out the deposit slip. It’s really easy to do. As soon as you do this, wait three days to hear back from us. We’ll confirm we got your deposit via a message at AAR. If you don’t here from us within 36 hrs. of your deposit, send sommerset a message on AAR saying you’ve deposited some money into your account so that we can get that into our records. If we charged you overdraft fees, let us know about it in your message--- we’ll fix everything.

How to be charged overdraft fees This one is simple--- you’ll be charged overdraft fees as soon as your bank account is in negative digits. As soon as you have negative dollars, you’ll be charged a $30 overdraft fee. Yikes! You can avoid overdrafts by being wise, making sure your account stays up to date, and keeping a personal record of what you’ve earned.

When the Bank gets Updated Either sommerset or The_Board will update the bank every weekend, so we are only accepting deposits Wednesdays through Saturdays. If you make a deposit on Sunday, Monday, or Tuesday, chances are we won’t get to input your information on the AAR spreadsheet. This doesn’t mean you’re overdue, this just means you won’t be able to see what’s in your account on the AAR site until the weekend.

When we update (cont.) The AAR bank is constantly being updated on an Excel sheet on sommerset’s computer, but we want to give you a way to keep track for yourself. That’s why we have an additional table on the AAR bank page so you can see what we have. Again, that table will only be updated on weekends.

Other Stuff You also have to keep track of the points you earn, and you do that by using the same form. There’s a section called MAKE A DEPOSIT and we ask you if you have new points to input. Let us know there. A cool thing about points is that you can exchange them for cash so they don’t just go to waste. 1 point= 1 dollar so rack up those points! You can use the POINT EXCHANGE section of that form to switch them out.

Other Stuff (cont…) Do NOT fill out a deposit form every two seconds. The best way to go about this is keep a separate record and submit them all at once--- once or twice a week should do. If you become a form junkie we will have to put you in rehab and input your points ourselves. Don’t make us baby you, Alphas. Also, if you have any questions, let us know. Bella and sommer are here to help. Yes, we’re the us in question. 

Happy Banking