Strategy Checking Account Disclosure
FREE BANKING FEATURES
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.
Online Bill Pay: This account does not have any fees for unlimited transactions.
Electronic Statements: You may receive electronic statements ("eStatements") without any charge.
Electronic Statements: You may receive electronic statements ("eStatements") without any charge.
INTEREST RATES AND ANNUAL PERCENTAGE YIELD
At our discretion, we may change the interest rates for this account.
Tier 1 - If your daily balance is $500,000.00 or more, the interest rate paid on the entire balance in your account will be 1.35%.
Tier 2 - If your daily balance is $250,000.00 or more, but less than or equal to $499,999.99, the interest rate paid on the entire balance in your account will be 1.25%.
Tier 3 - If your daily balance is $100,000.00 or more, but less than or equal to $249,999.99, the interest rate paid on the entire balance in your account will be 0.85% .
Tier 4 - If your daily balance is $1,000.00 or more, but less than or equal to $99,999.99, the interest rate paid on the entire balance in your account will be 0.00% .The interest rates may change at any time.
TERMS AND CONDITIONS
Minimum balance to open: The minimum balance required to open this account is $20.00.
Deposit limitations - You may make an unlimited number of deposits into your 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. The collected balance is calculated by subtracting uncollected checks from the account balance. An uncollected check is a check drawn on another bank for which Foresight Bank has not received final credit. Your interest rate and annual percentage yield may change at any time without advance notice and according to Foresight Bank's discretion.
Compounding frequency: Interest will be compounded monthly.
Crediting frequency: Interest will be credited into this account monthly.
Daily balance computation method: Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of interest on noncash deposits: Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account.
Effect of Closing the Account: If you close the account before interest is credited, you will receive any accrued interest.
Ready Reserve Line of Credit: If you have a Ready Reserve line of credit, available credit will not be included in your available balance disclosed at the ATM. If you access your line of credit when making a purchase or ATM withdrawal, you will be subject to the terms and conditions (including fees and interest) noted in your Ready Reserve agreement.
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
The following fees and charges apply to this account:
Minimum Balance: A service charge of $10.00 will be imposed for every monthly statement cycle in which the average ledger balance in your account is below $50,000.00. 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 $50,000.00 on any given day during the monthly statement cycle, your account will not necessarily be assessed the service charge.
Debit Item Charge: There is no charge for the first 1,000 debit items per monthly statement cycle. Beginning with the 1,001st debit item that is paid from your account in a monthly statement cycle, there is a charge of $0.10 per debit item. A "debit item" is a transaction that decreases the balance in your account.
Minimum Balance: A service charge of $10.00 will be imposed for every monthly statement cycle in which the average ledger balance in your account is below $50,000.00. 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 $50,000.00 on any given day during the monthly statement cycle, your account will not necessarily be assessed the service charge.
Debit Item Charge: There is no charge for the first 1,000 debit items per monthly statement cycle. Beginning with the 1,001st debit item that is paid from your account in a monthly statement cycle, there is a charge of $0.10 per debit item. A "debit item" is a transaction that decreases the balance in your account.
Statement Fee: $5.00 per statement cycle. This fee is waived if you receive electronic statements ("estatements").
Transit Fee: A "transit" item is a check not drawn on Foresight Bank that is deposited to this account. If you have more than 200 transit items in a monthly statement cycle, a fee of $0.20 per item will be charged for each transit item over 200.
See the Fee Schedule for additional fees that may be assessed against your account.