First International Bank & Trust

ROTH IRA SAVINGS
TRUTH IN SAVINGS DISCLOSURE

The current interest rate and annual percentage yield for this account may be obtained by calling us at 1-800-359-8092.

This disclosure contains the rules which govern your deposit account. Unless it would be inconsistent to do so, words and phrases used in this disclosure should be construed so that the singular includes the plural and the plural includes the singular

We reserve the right to at any time require not less than 7 days notice in writing before any withdrawal from an interest bearing account.

VARIABLE RATE:
The interest rate for your account is a variable rate. Your interest rate and annual percentage yield may change.

Determination of Rate:  At our discretion, we may change the interest rate on your account.

Frequency of Rate Change:  We may change the interest rate on your account at any time.

Minimum Balance Requirements: 

To open the account. 
You must deposit at least $100.00 to open this account.


Compounding and Crediting:

  • Frequency
    Interest will be compounded annually. Interest will be credited to your account at calendar year-end.
  • Effect of Closing an Account
    If you close your account before interest is credited, you will receive the accrued interest.

Balance Computation Method:

  • Average Daily Balance Method
    We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
  • The period we use is  calendar year-end.

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).

Additional Terms:

  • We charge a $30 Paid Overdraft Item Fee for each item that would create an overdraft or non-sufficient funds balance on your account that we choose to pay at our discretion.
  • We charge a $30 Returned Item Fee for each item that would create an overdraft or non-sufficent funds balance on your account that is returned.
  • We also charge a $30 Continuous Overdraft Balance Fee each 7th calendar day the account remains overdrawn. If the 7th day is a non-processing day (Saturday, Sunday, or a Holiday), the fee will be assessed to the account on the business day prior to the non-processing day.
  • An overdraft or non-sufficient funds or negative balance may result from the (1) payment of checks, in-person withdrawals, other electronic funds transfers, or other withdrawal requests you initiate; (2) payments authorized by you; (3) return of unpaid items you deposited; (4) charging your account for our applicable service charges and fees; or (5) deposit of items to your account which according to our funds availability policy, are treated as not yet "available" or "finally paid".

TRANSACTION LIMITATIONS:  YOU MAY MAKE NO MORE THAN 6 PREAUTHORIZED OR AUTOMATIC WITHDRAWALS OR TRANSFERS FROM THIS ACCOUNT PER MONTH. TRANSFERS INCLUDE THOSE BY TELEPHONE AND PERSONAL ONLINE BANKING.  EXCEEDING THE TRANSATION LIMITATIONS IS PROHIBITED BY REGULATION.  IN-PERSON TRANSACTIONS ARE NOT LIMITED.  IF THE LIMITS ARE REPEATEDLY EXCEEDED, WE ARE REQUIRED TO CHANGE YOUR ACCOUNT TYPE OR REMOVE THE ACCOUNT'S TRANSFER CAPABILITIES.  TRANSACTIONS MADE IN PERSON MAY STILL BE ALLOWED.

CASHCARDS OR CHECK & CASHCARDS ARE NOT AVAILABLE ON THIS ACCOUNT.

REFER TO THE FEE SCHEDULE FOR CHARGES FOR OTHER REQUESTED SERVICES.

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First International Bank & Trust © 2014
100 North Main
Watford City, North Dakota 58854
1-800-359-8092 webmaster@firstintlbank.com
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