Truth in Savings
Money Market Accounts
Rates
Your interest rate and annual percentage yield may change. At our discretion we may change the interest rate on your account daily. The interest rate on your account will never be less than 0.00%.
Interest
Interest begins to accrue on the business day you deposit noncash items (for example, checks). Interest is compounded monthly and credited monthly. If you close your account before interest is credited, you will receive the accrued interest. We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Minimum Balance
The minimum deposit to open a Beal Bank USA money market account is $1,000.00. Minimum balance necessary to obtain the highest disclosed annual percentage yield is $25,000.00.
Additional Terms
We reserve the right to limit your aggregate deposit balances to $1,000,000 per taxpayer identification number.
Account Fees
|
Service charge assessed on money market accounts closed within 6 months of opening |
$15.00 |
|
Monthly minimum balance fee if the daily balance drops below $1,000 any day of the statement cycle |
$10.00 |
|
Returned deposits (per item) |
$ 7.50 |
|
Insufficient funds (per item) |
$25.00 |
|
Overdraft (per item) |
$25.00 |
|
Stop payment (per request) |
$25.00 |
|
Wire transfer - domestic |
$15.00 |
|
Wire transfer - foreign |
$60.00 |
|
Wire transfer - incoming |
NO CHARGE |
|
Cashier's Check (customer) |
$ 3.00 |
|
Cashier's Check (non customer) |
$10.00 |
|
Recon/Research per hour (min. 1 hr.) |
$25.00 |
|
Photocopy of check |
$ 3.00 |
|
Collection item/plus additional fees imposed by bank |
$10.00 |
|
Photocopy/microfilm copy-statement |
$ 4.00 |
|
Photocopy/microfilm copy-other item |
$ 3.00 |
|
Direct deposit service |
NO CHARGE |
|
Compliance with Legal Orders per hour |
$35.00 |