Interest First Checking Account with Paper Statements
TRUTH IN SAVINGS DISCLOSURE
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.
The current interest rate and annual percentage yield for this account may be obtained by calling us at 1-800-359-8092.
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.
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: You must deposit at least $100.00 to open this account.
To avoid the imposition of the service charge fee you must meet the following requirements: A service charge of $9.95 will be imposed every statement cycle if the balance in the account falls below $100.00 any day of the statement cycle.
To obtain the annual percentage yield disclosed you must maintain a minimum average daily balance of $100.00. 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 monthly statement cycle is the period we use.
COMPOUNDING AND CREDITING: Interest will be compounded every statement cycle. Interest will be credited every statement cycle.
If you close your account before interest is credited, you will not receive the accrued interest.
BALANCE COMPUTATION 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 the monthly statement cycle.
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.
- Check printing fee depends on style ordered.
- A fee of $.50 will be charged for each check not ordered through First International Bank & Trust which cannot be automatically processed.
- When processing checks drawn on your account, our policy is to pay checks in numerical sequence. Lower check numbers are paid first.
- A $30 NSF paid item fee is charged for each item that would create an overdraft on your account that is paid.
- A $30 NSF returned item fee is charged for each item that would create an overdraft on your account that is returned.
- A $30 continuous negative balance fee is charged each 7th day the account is overdrawn.
- A non-sufficient funds /overdraft / negative balance may result from: a) the payment of checks, in-person withdrawals, recurring debit card transactions or other electronic funds transfers, or other withdrawal requests you initiate; b) payments authorized by you; c) the return of unpaid items deposited by you; d) charging your account for our applicable service charges and fees; or e) the deposit of items to your account which according to our Funds Availability Policy, are treated as not yet “available” or “finally paid”.
- Each Stop Payment requested will be charged $30.00 per item or $60.00 per range of items.
- An early account closing charge of $10.00 will be assessed on any account that has been open less than 6 months.
- A dormant service charge fee of $5.00 will be charged monthly if for one year no deposits or withdrawals are made to the account and if the account balance falls below a constant minimum balance of $1,000.00
- If you use an automated teller machine that is not operated by us, you may be charged a fee by the operator of the ATM or network.
- If you conduct a transaction with the ATM / debit card in a foreign country, there will be an international service assessment or an international currency conversion fee of up to one percent (1%) of the transaction amount that will be included in the transaction that appears on your monthly statement.
- If you consent to receiving your monthly periodic statement electronically your account will be changed to an Interest First Checking Account with E-Statements and the service charge will be $4.95 for every statement cycle the balance in the account falls below $100.00 any day of the statement cycle.
- Refer to the Fee Schedule for charges for other requested services.
Tier Level Average Daily Balance Interest Rate APY*
Tier 1 $100.00 - $2,499.99 For current interest rate and annual
Tier 2 $2,500.00 - $99,999.99 percentage yield information
Tier 3 $100,000.00 - $499,999.99 please call 1-800-359-8092.
Tier 4 $500,000.00 and up
*APY = Annual Percentage Yield