Description:
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Limited access interest-bearing
checking account
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Requirements:
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- Minimum balance to open -
$200.00. You must maintain a minimum balance of $1,000.00
in the account each day to obtain the disclosed annual
percentage yield.
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Benefits:
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- We use the daily balance
method to calculate the interest to your account. This
method applies a daily periodic rate to the principal in the
account each day. Interest begins to accrue the business day
you deposit it. Interest is credited quarterly.
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Cost:
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- Minimum balance to avoid
imposition fees – A service charge fee of $10.00 will be
imposed every statement cycle if the balance in the account
falls below $1,000.00 any day of the cycle.
- Transaction limitations –
Transfers from a Money Market account to another account or
to third parties by pre-authorized, automatic, or telephone
transfer are limited to six per statement cycle with no more
than three by check, draft, or similar order to third
parties.
- A per debit item fee of
$1.00 will be charged for each debit transaction
(withdrawal, check paid, automatic transfer or payment of
this account) in excess of six during a statement cycle.
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