Money Market Account Truth in Savings Disclosure
Interest Rate Information
- The interest rate and annual percentage yield for your account depend upon the applicable rate tier. The interest rate and annual percentage yield for these tiers may change at the Bank's discretion any time without notice. Click here for the current interest rates and annual percentage yields.
Compounding and Crediting of Interest
- Interest is compounded monthly and credited to your account every month.
- If you close your account before interest is credited, you will receive the accrued interest.
Accrual of Interest on Noncash Deposits
- Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
Minimum Balance Requirements
- You must deposit $1,000 to open this account.
- A minimum balance fee of $5.00 will be imposed every month if the balance for the monthly statement cycle period falls below $500.
- You must maintain a minimum balance of $500 in the account each day to obtain the disclosed annual percentage yield.
Balance Computation Method
- We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Transaction Limitations
- You may make no more than six preauthorized withdrawals, automatic or telephonic transfers, checks, drafts and debit card or other similar transactions from your account per month or statement cycle.
Service Fees
The following fees may be assessed against your account:
| Stop Payments (per item) | $32.00 |
| *Overdrafts (per item paid or returned) | $40.00 |
| Deposit Item Chargeback (per item) | $10.00 |
| Research (per hour/minimum $30) | $30.00 |
| Escheat Processing | $100.00 |
| Overdraft Protection Transfers (per occurrence) | $5.00 |
| Dormant Account (per month after one year) | $5.00 |
| Early Account Closure (within 90 days of opening) | $20.00 |
| Foreign ATM Cash Withdrawals | $1.00 |
| Excessive Transaction (per item after the first notification of an excessive transaction occurrence.) | $15.00 |
Initial order of checks is free. Thereafter, check printing fees vary based upon the check style selected.
* The overdraft fee applies to overdrafts created by check, in person withdrawal, ATM withdrawal, or other electronic means as applicable.
Equal Housing Lender. Equal Opportunity Lender. Member FDIC.