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HiFi Checking
Interest bearing checking account with
limited checking privileges. Available to individuals,
businesses, partnerships, and corporations operated for
profit. Imaged statements are provided monthly.
- Interest is paid monthly
- $2,500.00 minimum to open account
- Deposit and Check Images with monthly statement
- $7.50 per item insufficient fee
for paid or returned insufficient items
- Overdraft fee is 18% of the balance
- Stop payment fee of $5.00 per item
- Free Internet and Telephone banking
- ATM Card available
Rate Information:
Contact the bank for the current rate
and annual percentage yield (APY) for the HiFi account. Your interest rate and
APY may change. At our discretion,
we may change the rate on or about the first Tuesday of
each month.
Interest:
Interest will be compounded every monthly
statement cycle and be credited to your account every
monthly statement cycle. If you close your account
before interest is credited, you will forfeit the
accrued interest. 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. Interest begins to accrue on the same
business day as the business day of deposit.
Fees:
A service fee of $5.00 per monthly statement cycle will be
assessed against your account if the average daily
balance falls below $2,500. 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.
A HiFi account cannot have more than a total of 6
transfers in a monthly statement cycle and no more than
3 of such transactions can be by check, draft, or
similar payment order. We reserve the right to at any
time require no less than 7 days notice in writing
before each withdrawal from this account.
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