Strategy Checking 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 YIELD
Rate information: The interest rate listed in a tier will be paid for only that portion of your average daily balance range that is equal to or greater than the low balance amount but less than the high balance amount within that tier.
Tier 1 - If your average daily balance is less than or equal to $99,999.99, the interest rate paid will be 0.00% .
Tier 2 - If your average daily balance is equal to or greater than $100,000.00, but less than or equal to $249,999.99, the interest rate paid for this tier will be 0.35% .
Tier 3 - If your average daily balance is equal to or greater than $250,000.00, but less than or equal to $499,999.99, the interest rate paid for this tier will be 0.75%.
Tier 4 - If your average daily balance is equal to or greater than $500,000.00 or more, the interest rate paid for this tier will be 0.85%.
The interest rates and annual percentage yields 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.
Compounding frequency: Interest will be compounded monthly.
Crediting frequency: Interest will be credited into this account monthly.
Daily Balance Computation Method: We use the average 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.
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).
Effect of Closing the Account: If you close the account before interest is credited, you will receive any accrued interest.
FEES THAT MAY BE ASSESSED AGAINST YOUR ACCOUNT, AS APPLICABLE
The following fees and charges apply to this account
Minimum balance to avoid Minimum Balance Fee: 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 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 charged 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" includes withdrawals, checks, transfers, sweeps, and iBanking bill pay and transfers.
See the Fee Schedule for additional fees that may be assessed against your account.