Heath Savings e-Account Disclosure
BANKING FEATURES
Online Banking: Online banking system that enables you to check balances, deposit checks, transfer funds, pay bills and receive alerts for all your accounts.
You may enroll in Foresight Bank's online banking application ("iBanking") by clicking here(Opens in a new Window).
Mobile App: Connect with your smart phone. Check balances, deposit checks, transfer funds, pay bills, and receive alerts for all your accounts.
eStatements: Electronic statements of all checking, savings and Money Market accounts, via iBanking or the Mobile App.
Mobile Deposit: Deposit checks by taking a picture and submitting the deposit through the Mobile App.
Mobile Deposit: Deposit checks by taking a picture and submitting the deposit through the Mobile App.
Online Bill Pay: Pay all of your bills through electronic or check payments. All transactions are controlled by you. All checks, envelopes and stamps are taken care of by Foresight Bank.
Answerline: Free 24-hour/day telephone banking service that allows you to check balances, transfer money and more
INTEREST RATES AND ANNUAL PERCENTAGE YIELDS
At our discretion, we may change the interest rates for this account.
Tier 1: If your daily balance is less than or equal to $999.99, the interest rate paid on the entire balance in your account will be 0.000% with an annual percentage yield (APY) of 0.00%.The interest rates and annual percentage yields may change at any time.
Tier 2: If your daily balance is equal to or greater than $1,000.00 or, but less than or equal to $2,499.99, the interest rate paid on the entire balance in your account will be 1.25% with an annual percentage yield (APY) of 1.26%.
Tier 3: If your daily balance is equal to or greater than $2,500.00, but less than or equal to $24,999.99, the interest rate paid on the entire balance in your account will be 1.30% with an annual percentage yield (APY) of 1.31%
Tier 4: If your daily balance is equal to or greater than $25,000.00, the interest rate paid on the entire balance in your account will be 1.40% with an annual percentage yield (APY) of 1.41%.
TERMS AND CONDITIONS
Additional Rate Information: Your interest rate and annual percentage yield may change at any time without advance notice and according to Foresight Bank's discretion.
Minimum balance to open: The minimum balance required to open this account is $20.00.
Daily balance computation method: We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. 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. The average daily balance that we use when calculating interest is the collected balance. That means we only include those funds for which we have actually received payment when we determine the average daily balance on which interest is paid.
Accrual of interest on noncash deposits: Interest will begin to accrue no later than the business day we receive credit for the deposit of noncash items. (for example, checks)
Compounding frequency: Interest will be compounded monthly.
Crediting frequency: Interest will be credited into this account monthly.
Deposit limitations: You may make an unlimited number of deposits into your account.
Effect of Closing the Account: If you close the account before interest is credited, you will receive the accrued interest.
Other Terms and Conditions: Please see the Deposit Account Agreement for other important terms and conditions that apply to this account.