Business Checking. This is a non-dividend-earning checking account with no minimum balance requirement. The minimum opening deposit is $100. No minimum balance requirements apply to this account and there is no monthly service fee. Premier Business Checking Account – This product is no longer available for new accounts. This is a dividend-earning, tiered-rate checking account with different rates applicable to specified balance levels. To determine current rates please call a Member Services Specialist at (800) 772- 4000, option 0. Dividends are paid at the prevailing rate corresponding to each day’s full balance. The dividend rate and APY may change at any time based upon the determination of the Credit Union’s Board of Directors. A Minimum Balance Fee will be assessed any month the minimum daily balance falls below $2,500 or the average balance falls below $5,000. Account will be assessed an Excess Check Fee per occurrence over 200 checks. Refer to our Business Schedule of Fees. Platinum Business Checking Account – This is a tiered-rate account and different rates may be applicable to specified balance levels as published on our website rate sheet. Dividends are paid at the prevailing rate corresponding to each day’s full balance. The minimum opening deposit is Pledging as Collateral – Checking accounts may not be pledged as collateral to a loan. Electronic Checks – We may pay and charge to your applicable account checks drawn by and payable to any person, organization, association or corporation whom you have authorized by providing sample MICR-encoded information identifying your account, provided there are sufficient funds in your account to pay such checks. You agree that your rights in respect to such checks shall be the same as if it were a check drawn and signed by you personally. This authority shall remain in effect until revoked by you in writing (to us and to the agency to which the sample MICR writing was provided) and we have had a reasonable opportunity to act on it. You agree that we shall be fully protected in honoring such checks. You further agree that if any such check is dishonored, whether with or without cause, and whether intentional or inadvertent, we shall be under no liability whatsoever, even though such dishonor results in the forfeiture of insurance, loss or damage to you of any kind. Stop Payment – You, or any other person authorized to draw on the account, may request a stop payment of any check payable against your account, provided your request is timely and affords us a reasonable opportunity to act upon it under our rules. You may also stop payment on a line of credit check. Your stop payment must include the account number, exact amount, check date, check number, and name of payee. A stop payment fee may be assessed for each Rejected Items Paid or Unpaid
Appears in 1 contract
Sources: Business Account Membership Agreements and Disclosures
Business Checking. This is a non-dividend-earning checking account with no minimum balance requirement. The minimum opening deposit is $100. No minimum balance requirements apply to this account and there is no to avoid the imposition of a monthly service fee. Premier Business Checking Account – This product is no longer available for new accounts. This is a dividend-dividend- earning, tiered-rate checking account with different rates applicable to specified balance levels. To determine current rates please call a Member Services Specialist at (800) 772- 4000, option 0▇▇▇)▇▇▇-▇▇▇▇. Dividends are paid at the prevailing rate corresponding to each day’s 's full balance. The dividend rate and APY may change at any time based upon the determination of the Credit Union’s 's Board of Directors. A Minimum Balance Fee will be assessed any month the minimum daily balance falls below $2,500 or the average balance falls below $5,000. Account will be assessed an Excess Check Fee per occurrence over 200 checks. Refer to our Business Schedule of Fees. Platinum Business Checking Account – This is a tiered-rate account and with different rates may be applicable to specified balance levels as published on our website rate sheetsheet on our website. Dividends are paid at the prevailing rate corresponding to each day’s full balance. The minimum opening deposit is $100. The minimum balance required to earn any dividend is $10,000. The Annual Percentage Yield is variable and may change without notice. See rates on our website for current dividend. Pledging as Collateral – Checking accounts may not be pledged as collateral to a loan. Overdraft and Overdraft Protection – We may, as authorized by you, but shall not be required to, pay overdrafts in the checking account by transferring funds from another account you have designated to cover such overdrafts. If overdrafts are to be covered by a transfer of funds from your savings account(s), such transfer(s) will generally be made only if there are sufficient clear funds on deposit at the time of transfer. You agree that overdrafts, if paid in excess of funds in any savings account or available from any loan account, are payable on demand. If your account becomes overdrawn and you do not have overdraft protection, you are obligated to reimburse us on demand. If an overdraft is not covered, the law provides that we may apply funds on deposit in any of your accounts to satisfy the debt. This procedure is called a setoff. If we exercise our right of setoff, we will promptly advise you of the affected account(s) and the balance(s) before and after setoff. Any items returned unpaid because of insufficient collected funds or paid without sufficient collected funds in your checking account and overdraft source(s) will be subject to fees. A transaction fee may be assessed. Refer to our current Business Schedule of Fees. Electronic Checks – We may pay and charge to your applicable account checks drawn by and payable to any person, organization, association or corporation whom you have authorized by providing sample MICR-encoded information identifying your account, provided there are sufficient funds in your account to pay such checks. You agree that your rights in respect to such checks shall be the same as if it were a check drawn and signed by you personally. This authority shall remain in effect until revoked by you in writing (to us and to the agency to which the sample MICR writing was provided) and we have had a reasonable opportunity to act on it. You agree that we shall be fully protected in honoring such checks. You further agree that if any such check is dishonored, whether with or without cause, and whether intentional or inadvertent, we shall be under no liability whatsoever, even though such dishonor results in the forfeiture of insurance, loss or damage to you of any kind. Stop Payment – You, or any other person authorized to draw on the account, may request a stop payment of any check payable against your account, provided your request is timely and affords us a reasonable opportunity to act upon it under our rules. You may also stop payment on a line of credit check. Your stop payment must include the account number, exact amount, check date, check number, and name of payee. A stop payment fee may be assessed for each stop payment request. We will not be liable for paying a check over a stop payment request if the request is incomplete or incorrect. You agree to indemnify, defend and hold us harmless for all claims, actions and damages related to or arising from our action in stopping payment of any check pursuant to your request. If you give a stop payment request orally, the request shall be valid for only fourteen (14) days thereafter unless confirmed in writing. Written requests shall be valid no longer than six (6) months, but may be renewed for additional six (6) month periods by written notice given during the time that the stop payment request was effective and may be subject to additional stop payment fee. You have the burden of establishing the fact and amount of loss resulting from payment contrary to a binding stop payment request. Rejected Items Paid or UnpaidUnpaid Other Checking Account Terms and Conditions
Appears in 1 contract
Sources: Business Account Membership Agreements and Disclosures
Business Checking. This is a non-dividend-earning checking account with no minimum balance requirement. The minimum opening deposit is $100. No minimum balance requirements apply to this account and there is no monthly service fee. Premier Business Checking Account – This product is no longer available for new accounts. This is a dividend-earning, tiered-rate checking account with different rates applicable to specified balance levels. To determine current rates please call a Member Services Specialist at (800) 772- 4000, option 0. Dividends are paid at the prevailing rate corresponding to each day’s full balance. The dividend rate and APY may change at any time based upon the determination of the Credit Union’s Board of Directors. A Minimum Balance Fee will be assessed any month the minimum daily balance falls below $2,500 or the average balance falls below $5,000. Account will be assessed an Excess Check Fee per occurrence over 200 checks. Refer to our Business Schedule of Fees. Platinum Business Checking Account – This is a tiered-rate account and different rates may be applicable to specified balance levels as published on our website rate sheet. Dividends are paid at the prevailing rate corresponding to each day’s full balance. The minimum opening deposit is Pledging as Collateral – Checking accounts may not be pledged as collateral to a loan. Electronic Checks – We may pay and charge to your applicable account checks drawn by and payable to any person, organization, association or corporation whom you have authorized by providing sample MICR-encoded information identifying your account, provided there are sufficient funds in your account to pay such checks. You agree that your rights in respect to such checks shall be the same as if it were a check drawn and signed by you personally. This authority shall remain in effect until revoked by you in writing (to us and to the agency to which the sample MICR writing was provided) and we have had a reasonable opportunity to act on it. You agree that we shall be fully protected in honoring such checks. You further agree that if any such check is dishonored, whether with or without cause, and whether intentional or inadvertent, we shall be under no liability whatsoever, even though such dishonor results in the forfeiture of insurance, loss or damage to you of any kind. Stop Payment – You, or any other person authorized to draw on the account, may request a stop payment of any check payable against your account, provided your request is timely and affords us a reasonable opportunity to act upon it under our rules. You may also stop payment on a line of credit check. Your stop payment must include the account number, exact amount, check date, check number, and name of payee. A stop payment fee may be assessed for each stop payment request. We will not be liable for paying a check over a stop payment request if the request is incomplete or incorrect. You agree to indemnify, defend and hold us harmless for all claims, actions and damages related to or arising from our action in stopping payment of any check pursuant to your request. If you give a stop payment request orally, the request shall be valid for only fourteen (14) days thereafter unless confirmed in writing. Written requests shall be valid no longer than six (6) months, but may be renewed for additional six (6) month periods by written notice given during the time that the stop payment request was effective and may be subject to additional stop payment fee. You have the burden of establishing the fact and amount of loss resulting from payment contrary to a binding stop payment request. Rejected Items Paid or Unpaid
Appears in 1 contract
Sources: Business Account Membership Agreements and Disclosures