This disclosure contains information about terms, fees, and interest rates for Legacy Checking.
Today’s Date is April 23rd, 2017.
To open this account you must deposit at least $1,000.00 into the account.
Variable Rate Information
The interest rate for this account is 0.08% with an annual percentage yield of 0.08%. This information is effective as of April 23rd, 2017. If you would like additional rate and yield information, please call us at 800-344-7048.
Your interest rate and annual percentage yield may change. We may change the interest rate on your account daily, at our discretion.
You must maintain a daily available balance of $1,000.00 to obtain the annual percentage yield. 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.
Interest will be compounded monthly and credited monthly. If you request to close your account prior to interest being credited, you will receive your accrued interest. Fees may reduce earnings.
Interest will begin to accrue no later than the business day we receive credit for non-cash items, i.e., checks you deposit to your account.
We reserve the right to require written notice, 7 days in advance, before we allow you to withdrawal from your account.
Service Charge Information
A monthly service charge of $17.00 will be imposed if your minimum daily balance falls below $1,000.00.
If you do not initiate at least one deposit or withdrawal on this account in a 12 month period, the account will go inactive. If the account continues to go 24 months without at least one deposit or withdrawal initiated by you, your account will go dormant. There will be a monthly service charge as long as your account is inactive or dormant. We reserve the right not to send statements on accounts we consider dormant, subject to state law. Funds in abandoned accounts will be sent to a state agency, in accordance with state law. After the funds have been sent to the state, we are not responsible for them. If you choose to reclaim the funds, you must apply to the state agency. See Additional Terms for corresponding fees.
Inactive or Dormant account*: $10.00 per month
Abandoned account*: $50.00, one-time fee
Account closure within 6 months of account opening*: $30.00
On any one business day if you bring your account to a zero balance, we will assume you wish to close your account. This will cause deposits or withdrawals to reject.
Reopen Closed Account: $10.00 per time
Negative Balance Closing*: $25.00
Counter Checks*: $0.50 per item
Foreign Deposited Check*: $5.00 per check
Deposited items returned*: $7.00 per returned check
Foreign Deposited items returned*: $15.00 per returned check
Stop Payments*: $35.00 per item, no max
Overdrafts/NSFs: $33.00 per item
Returned NSF Items: $36.00 per item
Photo Debit Card*: $10 per card
Replacement Debit Card*: $10 for replacement
Returned Mail/Returned eStatement*: $5.00
* All Fees marked with an asterisk (*) are subject to Iowa State sales tax of 7.00%
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