FREE BANKING FEATURES
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.
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 $50,000.00 or more, the interest rate paid on the entire balance in your account will be 0.50 .
Tier 2: If your daily balance is $2,500.00 or more, but less than or equal to $49,999.99, the interest rate paid on the entire balance in your account will be 0.50 .
Tier 3: If your daily balance is $1,000.00 or more, but less than or equal to $2,499.99, the interest rate paid on the entire balance in your account will be 0.45 .
Tier 4: 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%.The interest rates may change at any time.
TERMS AND CONDITIONS
Minimum balance to open: You must deposit at least $20.00 to open this account.
Deposit limitations: You may make an unlimited number of deposits into your account.
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.
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 the 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
Minimum balance to avoid Minimum Balance Fee: A minimum balance fee of $5.00 will be imposed every monthly statement in which the average ledger balance in your account is below $1,000.00. The average ledger 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 $1,000.00 on any given day during the monthly statement cycle, your account will not necessarily be assessed the service charge.
The minimum balance service charge will be waived if, as of the last day in the monthly 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 $50,000.00, or your current principal loan balance with Foresight Bank is at least $100,000.00. 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. The ledger balance equals all credits minus all debits that have posted to your account. 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.
Debit Item Fee: A "debit item" is a check paid, in-person withdrawal, ATM withdrawal, automatic transfer, or any other payment out of this account. A "debit item" does not include an iBanking transfer, ACH payment, or debit card transaction. If you have more than 100 debit items in a monthly statement cycle, a fee of $0.20 will be charged for each debit item over 100.
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.