Horizon Savings Account Disclosure
ACCOUNT FEATURES
Free Online Banking: You may enroll in Foresight Bank's online banking application ("iBanking") by clicking here. There is no fee to enroll in or to use iBanking.
No-Fee Online Bill Payment Program: You may enroll in Foresight Bank's online Bill Pay program and make unlimited payments without charge.
Free Online Banking: You may enroll in Foresight Bank's online banking application ("iBanking") by clicking here. There is no fee to enroll in or to use iBanking.
No-Fee Online Bill Payment Program: You may enroll in Foresight Bank's online Bill Pay program and make unlimited payments without charge.
INTEREST RATES AND ANNUAL PERCENTAGE YIELD
Interest will be compounded and credited to your account every quarter. The interest rate on your account is % with an annual percentage yield of %. Your interest rate and annual percentage yield may change at any time without advance notice according to Foresight Bank's discretion.
TERMS AND CONDITIONS
Initial Deposit: You must deposit at least $10.00 to open this account.
Daily Balance Computation Method: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the collected balance in the account each day.
Accrual of Interest on Non-Cash Deposits: Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
Effect of Closing the Account: If you close the account before interest is credited, you will receive the accrued interest.
Transaction Limitations: Pursuant to federal regulations, transfers from this account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per month. Transfers by check, draft, or similar order to third parties are not allowed. These transaction limitations will not apply to withdrawals or transfers made in person at the bank, by ATM, or by mail.
Modification: Foresight Bank may make changes to the account terms and conditions (including fees) after providing 30 days' advance notice to you. The interest rate and annual percentage yield may change without any advance notice.
Other Terms and Conditions: Please see the Deposit Account Agreement for other important terms and conditions that apply to this account.
Initial Deposit: You must deposit at least $10.00 to open this account.
Daily Balance Computation Method: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the collected balance in the account each day.
Accrual of Interest on Non-Cash Deposits: Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
Effect of Closing the Account: If you close the account before interest is credited, you will receive the accrued interest.
Transaction Limitations: Pursuant to federal regulations, transfers from this account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per month. Transfers by check, draft, or similar order to third parties are not allowed. These transaction limitations will not apply to withdrawals or transfers made in person at the bank, by ATM, or by mail.
Modification: Foresight Bank may make changes to the account terms and conditions (including fees) after providing 30 days' advance notice to you. The interest rate and annual percentage yield may change without any advance notice.
Other Terms and Conditions: Please see the Deposit Account Agreement for other important terms and conditions that apply to this account.
FEES THAT MAY BE ASSESSED AGAINST YOUR ACCOUNT, AS APPLICABLE
Minimum Balance: A service charge of $3.00 will be imposed for every quarterly statement cycle in which the average ledger balance in your account is below $50.00. The average ledger balance is calculated by adding the ledger balance in the account for each day in the period and dividing that figure by the number of days in the period. The ledger balance equals all credits minus all debits that have posted to your account. Even if your ledger balance falls below $50.00 on any given day during the quarterly statement cycle, your account will not necessarily be assessed the service charge. The service charge will not be assessed if you are under the age of 18.
Minimum Balance Service Charge Waiver: The minimum balance service charge will be waived if, as of the last day in the quarterly statement cycle in which the fee would otherwise accrue, the average collected balance in your Foresight Bank checking, savings, and money market accounts plus the current principal balance in your Foresight Bank certificate of deposit accounts is at least $1,000.01, or your current principal loan balance with Foresight Bank is at least $20,000.01. The average collected balance is calculated by adding the collected balance in each Foresight Bank deposit account for each day in the period and
dividing that figure by the number of days in the period. The collected balance is calculated by subtracting uncollected checks from the ledger balance. An "uncollected check" is a check drawn on another bank for which Foresight Bank has not received final credit. The average principal loan balance is calculated by
adding the principal loan balance in each Foresight Bank loan account (not including Ready Reserve or credit card accounts) and dividing that figure by the number of days in the period.
International Transaction Fee: A fee of up to 1% of the transaction amount applies to debit card and ATM transactions with a merchant or ATM in a foreign country. The fee may show up as "C/B Fee", "C/C Fee", or both on your statement.
ATM Transactions: $1.00 ATM Fee per withdrawal at machines outside of the PULSE network. When you use an ATM not in the MoneyPass or PULSE networks, the ATM operator or network may charge you a fee for a withdrawal or a balance inquiry even if you do not complete a fund transfer.
Overdraft Fee: $25.00 per paid non-sufficient-funds item (daily maximum of $50.00) for items created by check, in-person withdrawal, or electronic means (excluding debit card transactions).
Return Item Fee: $25.00 per returned non-sufficient-funds item (daily maximum of $50.00) for items created by check, in-person withdrawal, or electronic means.
Continuous Overdraft Fee: $20.00 per business day, beginning on the sixth business day and every business day thereafter you are overdrawn. This fee is in addition to any "per-item" fees.
Stop Payment Requests: $15.00 per request.
Dormant Account: $3.00 per quarter if your account does not have any activity in the previous 36 months and the account balance is less than $100.00.
Sweep Account Option: $10.00 one-time set-up charge.
Account Balancing Assistance: $20.00 per hour.
Minimum Balance: A service charge of $3.00 will be imposed for every quarterly statement cycle in which the average ledger balance in your account is below $50.00. The average ledger balance is calculated by adding the ledger balance in the account for each day in the period and dividing that figure by the number of days in the period. The ledger balance equals all credits minus all debits that have posted to your account. Even if your ledger balance falls below $50.00 on any given day during the quarterly statement cycle, your account will not necessarily be assessed the service charge. The service charge will not be assessed if you are under the age of 18.
Minimum Balance Service Charge Waiver: The minimum balance service charge will be waived if, as of the last day in the quarterly statement cycle in which the fee would otherwise accrue, the average collected balance in your Foresight Bank checking, savings, and money market accounts plus the current principal balance in your Foresight Bank certificate of deposit accounts is at least $1,000.01, or your current principal loan balance with Foresight Bank is at least $20,000.01. The average collected balance is calculated by adding the collected balance in each Foresight Bank deposit account for each day in the period and
dividing that figure by the number of days in the period. The collected balance is calculated by subtracting uncollected checks from the ledger balance. An "uncollected check" is a check drawn on another bank for which Foresight Bank has not received final credit. The average principal loan balance is calculated by
adding the principal loan balance in each Foresight Bank loan account (not including Ready Reserve or credit card accounts) and dividing that figure by the number of days in the period.
International Transaction Fee: A fee of up to 1% of the transaction amount applies to debit card and ATM transactions with a merchant or ATM in a foreign country. The fee may show up as "C/B Fee", "C/C Fee", or both on your statement.
ATM Transactions: $1.00 ATM Fee per withdrawal at machines outside of the PULSE network. When you use an ATM not in the MoneyPass or PULSE networks, the ATM operator or network may charge you a fee for a withdrawal or a balance inquiry even if you do not complete a fund transfer.
Overdraft Fee: $25.00 per paid non-sufficient-funds item (daily maximum of $50.00) for items created by check, in-person withdrawal, or electronic means (excluding debit card transactions).
Return Item Fee: $25.00 per returned non-sufficient-funds item (daily maximum of $50.00) for items created by check, in-person withdrawal, or electronic means.
Continuous Overdraft Fee: $20.00 per business day, beginning on the sixth business day and every business day thereafter you are overdrawn. This fee is in addition to any "per-item" fees.
Stop Payment Requests: $15.00 per request.
Dormant Account: $3.00 per quarter if your account does not have any activity in the previous 36 months and the account balance is less than $100.00.
Sweep Account Option: $10.00 one-time set-up charge.
Account Balancing Assistance: $20.00 per hour.